Barclays has severed ties with Global Counsel, a lobbying firm co-founded by Peter Mandelson, amid mounting scrutiny over its close association with the late child sex offender Jeffrey Epstein. The move comes as Vodafone is reviewing its contract for public affairs services with Global Counsel following similar pressure.
Mandelson's involvement with Global Counsel has been severely impacted by revelations about his relationship with Epstein, which have sparked a major political scandal in the UK. Mandelson, who was sacked from the Labour party on Sunday, had previously tried to distance himself from the lobbying firm but has since faced intense scrutiny over its dealings with Epstein.
The US Department of Justice's investigation into Global Counsel has also raised concerns about the firm's practices. Newly released emails suggest that Mandelson regularly shared sensitive information about government policy with Epstein, while others indicate that he leaked confidential details on his own business dealings.
As a result, several prominent clients have taken steps to review or terminate their contracts with Global Counsel. Rokos Capital Management, a ยฃ16 billion London hedge fund, has terminated talks with Mandelson over an advisory role following the emergence of these allegations.
The move also highlights concerns about the close ties between Global Counsel and high-profile politicians and business leaders. The firm's clients include Palantir, a military and security technology firm with deep connections to the administration of Donald Trump, as well as Glencore, a mining company that has benefited from Global Counsel's strategic advice.
UK Prime Minister Keir Starmer has apologized for appointing Mandelson as ambassador to the US despite being misled about his ties to Epstein. The crisis surrounding Mandelson's involvement with Global Counsel is likely to have far-reaching implications for the UK government and its relationships with influential lobbying firms.
Mandelson's involvement with Global Counsel has been severely impacted by revelations about his relationship with Epstein, which have sparked a major political scandal in the UK. Mandelson, who was sacked from the Labour party on Sunday, had previously tried to distance himself from the lobbying firm but has since faced intense scrutiny over its dealings with Epstein.
The US Department of Justice's investigation into Global Counsel has also raised concerns about the firm's practices. Newly released emails suggest that Mandelson regularly shared sensitive information about government policy with Epstein, while others indicate that he leaked confidential details on his own business dealings.
As a result, several prominent clients have taken steps to review or terminate their contracts with Global Counsel. Rokos Capital Management, a ยฃ16 billion London hedge fund, has terminated talks with Mandelson over an advisory role following the emergence of these allegations.
The move also highlights concerns about the close ties between Global Counsel and high-profile politicians and business leaders. The firm's clients include Palantir, a military and security technology firm with deep connections to the administration of Donald Trump, as well as Glencore, a mining company that has benefited from Global Counsel's strategic advice.
UK Prime Minister Keir Starmer has apologized for appointing Mandelson as ambassador to the US despite being misled about his ties to Epstein. The crisis surrounding Mandelson's involvement with Global Counsel is likely to have far-reaching implications for the UK government and its relationships with influential lobbying firms.