Peter Mandelson Resigns from Labour and Lords Amid Epstein Email Revelations
The political and financial worlds have been rocked by the dramatic resignation of Peter Mandelson from the Labour Party and his subsequent stepping down from the House of Lords. This move comes in the wake of explosive new revelations concerning his relationship with the convicted child sex offender Jeffrey Epstein.
Hedge Fund Terminates Talks Following Epstein Document Release
A major London hedge fund has abruptly ended discussions with Mandelson regarding an advisory position. Rokos Capital Management (RCM), a $22 billion firm founded by billionaire Chris Rokos, confirmed it had terminated all talks with the former UK business secretary. This decision followed the release of millions of additional documents by the US Department of Justice, which shed new light on the extent of Mandelson's connections with Epstein.
The hedge fund stated clearly: "RCM works with many consultants. We were in discussion with Peter Mandelson about adding him to our deep bench of consultants, but following the recent revelations on Friday, all such discussions were immediately terminated."
Email Evidence Reveals Sensitive Government Information Leaks
The newly released emails provide damning evidence of Mandelson's ongoing relationship with Epstein. Crucially, they show that Mandelson maintained contact with Epstein even after the financier's first prison sentence for child sex offences in 2008. More alarmingly, the correspondence reveals that Mandelson apparently forwarded highly sensitive government information to Epstein during his tenure as business secretary under Gordon Brown in 2009.
This leaked information included critical government responses to the global financial crisis, raising serious questions about national security breaches and professional conduct during a period of economic emergency.
Criminal Investigation Launched by Metropolitan Police
The Metropolitan Police have now launched a formal criminal investigation into Mandelson over allegations that he leaked market-sensitive emails to Jeffrey Epstein. Epstein died in prison in 2019 while awaiting trial on child sex trafficking charges, adding further complexity to an already troubling situation.
Mandelson's resignation from the Labour Party occurred on Sunday, directly following the document release. His departure from the House of Lords was confirmed on Tuesday, marking a significant fall from grace for the former political heavyweight.
Mandelson's Financial Connections and Previous Roles
According to the register of commercial and financial interests for members of the House of Lords, Mandelson had previously been paid for advisory work for Rokos Capital Management in both 2024 and 2025. However, Mandelson told the Financial Times that he had not worked with the hedge fund since taking up his role as UK ambassador to the US in February 2025.
"I advised Rokos before becoming ambassador. We have not had any relationship since I was appointed as ambassador," Mandelson stated in his defence.
Background on Key Figures and Institutions
Chris Rokos, founder of RCM, ranks among the UK's biggest taxpayers and was estimated to be worth £2.6 billion in last year's Sunday Times rich list. The 55-year-old billionaire made his name as a bond trader, beginning his career at Goldman Sachs and Credit Suisse before co-founding the hedge fund Brevan Howard. He launched Rokos Capital Management in 2015, which now employs more than 350 people.
Rokos recently gained attention for undertaking what is believed to be the most expensive home renovation in England, following his purchase of the 200-room Tottenham House, an 18th-century mansion in Wiltshire.
Mandelson's political career has suffered a severe blow following these revelations. He was dismissed as the UK's ambassador to the US in September amid mounting pressure over his connections to Epstein. The latest developments represent a significant escalation in a scandal that continues to reverberate through British political and financial circles.
