Mandelson fired as Britain's ambassador to Washington, then dismissed by Global Counsel within hours

Peter Mandelson was withdrawn as Britain's ambassador to the United States at 10:30 a.m. on Sept. 11, after Prime Minister Keir Starmer announced his sacking. Within about an hour and nine minutes, the directors of his private strategy firm Global Counsel moved to sever ties with the Labour peer who founded the company in 2010, according to documents filed at Companies House and public reports.

Public filings show that a four-page termination deal was signed by Global Counsel directors by 11:39 a.m., as the firm weighed the potential commercial benefits of cutting Mandelson loose and attempts to limit reputational risk for clients who work with the firm. Several clients had already expressed concern they might be tarnished by association if Mandelson retained any economic interest. The filing notes there was no imminent loss of clients, but the longer Mandelson retained any economic interest in GC, the more challenging it would become. The company also said that dealing with questions from clients about Mandelson was not an optimal use of management time.

Mandelson still held about a 21 percent stake in Global Counsel, valued at roughly £6 million, but on the morning of the sacking directors converted his shares to non-voting stock, removing his capacity to influence the firm. Global Counsel counts TikTok and Palantir among its clients and operates six offices worldwide, according to public filings.

The timeline of events intersected with political developments in Westminster. Whitehall accounts indicate that Prime Minister Starmer acted in the face of pressure from Labour MPs, with internal messaging showing about 50 colleagues calling for Mandelson to be removed. Mandelson reportedly refused to resign, arguing that he did not want the ignominy of a third resignation in a career defined by political comebacks. There was no public farewell between Mandelson and the prime minister as the diplomat’s status was withdrawn with immediate effect. Allies of Mandelson have said he acknowledged in vetting interviews that he maintained a long relationship with Epstein, though details and interpretations of that relationship have been contested and difficult to verify publicly.

Global Counsel did not comment on the documents or the events surrounding Mandelson's departure from the firm he founded in 2010 to build a commercial advisory business with long-time associate Benjamin Wegg-Prosser. The company has publicly available client and office information, but the internal deliberations reflected in the Companies House filings illustrate how a founder’s personal controversy can coincide with corporate governance actions in real time.