WPP confirms involvement in Lord Mandelson’s Global Counsel venture

WPP has confirmed that it has invested in Global Counsel LLP, a new London-based advisory firm to be chaired by Lord Mandelson.

Martin Sorrell: WPP confirms venture
Martin Sorrell: WPP confirms venture

News of the venture emerged on 29 November, but WPP has only now spoken publicly about the plans.

The marcoms group, owner of agencies including Burson-Marsteller and Finsbury, will take a minority equity stake in Global Counsel.

It has provided seed capital along with additional benefits in kind including office accommodation. 

A WPP representative will sit on Global Counsel’s board alongside chairman Lord Mandelson and managing partner Ben Wegg-Prosser.

A statement sent out by WPP said Global Counsel would ‘provide corporate leaders with support to grow their businesses beyond their home markets’.   

WPP CEO Martin Sorrell said: ‘Peter’s experience, skills and know-how made this an opportunity that was too good to miss.  We are looking forward to supporting him grow Global Counsel into a world-class advisory business.’

Lord Mandelson said: ‘This is an exciting project and I am thrilled that Sir Martin has backed our new venture.  I’m looking forward to getting behind my desk and working alongside businesses whose values I share to help them develop in an ever-changing world.’

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