World Counsel, the political advisory agency co-founded by Peter Mandelson, is chopping ties with the previous Labour minister after his dismissal as Britain’s US ambassador following revelations about his hyperlinks to Jeffrey Epstein.
The agency, which advises among the world’s largest corporations on regulatory and political danger, has begun promoting Mandelson’s multimillion-pound stake and expects to finish the method inside two months.
Mandelson, a key determine in Tony Blair’s authorities who resigned twice from ministerial posts earlier than returning as Northern Eire secretary, co-founded World Counsel in 2010 with Benjamin Wegg-Prosser. He stepped again from the enterprise after being appointed by prime minister Keir Starmer as ambassador to Washington in December, however Corporations Home filings present he nonetheless holds a 21 per cent stake. He resigned as a director in Might final 12 months.
The strain to chop ties intensified after emails surfaced detailing Mandelson’s shut relationship with Epstein, whom he as soon as described as his “greatest pal”. The correspondence included a suggestion that Epstein’s first conviction must be challenged. {A photograph} of Mandelson in a white bathrobe with Epstein has additional fuelled the controversy.
World Counsel counts JP Morgan, Barclays, OpenAI, Anglo American, Shein and TikTok amongst its shoppers, and its vice-chair is Marks & Spencer chair Archie Norman. The agency declined to touch upon the developments.
Mandelson additionally declined to remark when approached by Bloomberg and the Monetary Occasions.
