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LONDON: Global Counsel, the consultancy firm co-founded by former British ambassador to the United States Peter Mandelson, is preparing to enter administration as early as Friday, a source familiar with the matter told Reuters.
Staff were told on Thursday that the move followed a wave of client departures after disclosures about Mandelson’s past links to the late U.S. sex offender Jeffrey Epstein, the source said.
The firm did not immediately respond to a request for comment.
Global Counsel cut ties with Mandelson in September last year, Reuters had reported, the day Prime Minister Keir Starmer sacked him as Britain’s ambassador to Washington.
Benjamin Wegg-Prosser, who co-founded Global Counsel alongside Mandelson, stepped down as chief executive earlier in February.