2026년 2월 12일 · Unknown · financial · 출처 Uk
Some of Global Counsel’s clients are leaving after revelations about Peter Mandelson in the Epstein files
Tesco has cut ties with the lobbying group co-founded by Lord Mandelson amid a growing exodus of clients after the Jeffrey Epstein scandal.
The supermarket giant confirmed it had axed its deal with Global Counsel on Wednesday, becoming the latest major client to cancel a contract after the extent of Lord Mandelson’s close relationship with Epstein came to light.
Phoenix Group, which owns Standard Life, confirmed on Wednesday it had also cancelled its contract, while Bank of America was also reported to have severed ties.
Lord Mandelson founded Global Counsel in 2010, building a glittering roster of elite business clients seeking policy advice and access to the firm’s political contacts.
He stepped down as chairman of the firm in 2024 after he was appointed British ambassador to the US.
Yet the firm’s relationships have been unravelling after fresh revelations about Lord Mandelson’s ties to Epstein.
Blackstone, the private equity giant founded by billionaire Stephen Schwarzman, said on Monday that it had dropped Global Counsel while the Premier League has also halted work.
Barclays and KKR have also abandoned the lobbying firm.
Some of Global Counsel’s other high-profile customers – such as military contractor Palantir – are maintaining their relationships.
Benjamin Wegg-Prosser, who co-founded the lobbying firm with the disgraced peer in 2010, resigned from the firm last week.
In an internal email, he said: “Although the firm has never had any commercial engagement with Epstein in any form whatsoever, the ongoing controversy regarding Mandelson’s relationship with him is a distraction for the business.”
The Telegraph has previously disclosed that Rebecca Park, the firm’s new chief executive, would be acquiring Lord Mandelson’s shares as the advisory business fully cuts ties with the former minister.
Archie Norman, Global Counsel’s chairman, said last week: “Peter Mandelson no longer has any shareholding, role, or association with Global Counsel and has no influence over the firm in any capacity.”
Lord Mandelson has said he regrets “ever having known Epstein”.
The Epstein emails revealed that Lord Mandelson had continued to seek advice and guidance from the financier for years after he was convicted of soliciting sex from underage girls as young as 14 in 2008.
The former business secretary maintained a friendship with the paedophile even after he had set up Global Counsel.
Tesco and Bank of America were contacted for comment.
A Global Counsel spokesman declined to comment.
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