Wegg-Prosser, who was Chief Executive Officer at Global Counsel, stepped down on Friday morning. It has also been announced that Rebecca Park will succeed him as CEO. This accompanies the firm’s decision to begin divesting Mandelson’s stake in the company, which currently sits at 21 per cent. The link between Epstein and Global Counsel began prior to the firm being established, with Mandelson seeking advice from the convicted sex offender soon after exiting government in 2010. Wegg-Prosser also met with Epstein to discuss the business plan of the company. This occurred when Epstein was under house arrest in New York. Clients of Global Counsel including Barclays and Vodafone have expressed their concern over continuing a professional relationship with the firm. Barclays has since terminated its relationship with the lobbying outfit, and Vodafone has begun reviewing its contract. GSK, an international pharmaceutical company and yet another client of Global Counsel, has announced that it will sever ties with the firm and cease to do business with them. It remains unclear to what extent Global Counsel will be harmed by this controversy. Much of the firm’s value was built around Mandelson’s unparalleled access to government and his deep-rooted influence within the political establishment. With Mandelson now on the way out, that unique selling point has evaporated, leaving a vacuum that will be difficult, and perhaps even impossible, to fill. Wegg-Prosser’s departure reinforces this uncertainty. Leadership upheaval of this scale, combined with the loss of major clients, raises serious questions about how long it will take for Global Counsel to regain credibility, if indeed it can at all. Relationships once severed in the public affairs world are not easily repaired. While the firm may still generate tens of millions of pounds in annual revenue, this issue strikes at the very heart of its business model. Without Mandelson nor Wegg-Prosser at the helm, and with confidence draining away among clients, this moment may prove not merely damaging, but existential for the firm....