Mandelson Branded 'Naive Sucker' in Epstein Files Over Post-Government Career
New revelations from the Jeffrey Epstein files have exposed Peter Mandelson's attempts to build a career after leaving government, with the Labour veteran described as "naive" and a "sucker" in private communications. The documents, released by the US Department of Justice, shed light on Mandelson's efforts to secure a board position at advisory and investment banking firm Lazard, which he viewed as crucial for his post-ministerial brand development.
Rothschild's Harsh Critique of Mandelson's Financial Acumen
In the files, Mandelson revealed to convicted paedophile Jeffrey Epstein that he had sought advice from financier Nathaniel Rothschild regarding the Lazard board role. Rothschild delivered a scathing assessment, branding Mandelson "tragically naive as to how the financial system works" and merely a "sucker" that Lazard wanted on their board for appearance rather than substance.
According to the documents, Rothschild told Mandelson: "If you're not capable of performing a piece of perfunctory analysis like looking at income statements, balance sheets, and cash flow, you shouldn't be sitting on the board." Mandelson later admitted to Epstein that attempting to "engage Nat's great brain" had been a mistake, forwarding the harsh critique to the disgraced financier.
From Business Secretary to Lazard Chairman
Despite the criticism, Mandelson successfully joined Lazard as a senior adviser in 2011 and subsequently served as chairman of Lazard International from 2012 until late 2016. This global advisory arm position represented the culmination of his post-government career ambitions, though the newly released files suggest his journey was marked by significant professional skepticism from financial insiders.
Metropolitan Police Launch Criminal Investigation
Following the latest document release, the Metropolitan Police has confirmed it will launch a criminal investigation into Mandelson over allegations of misconduct during his tenure as business secretary. The investigation centres on accusations that Mandelson relayed market-sensitive information to Epstein, potentially breaching official protocols and regulations.
Epstein's 'Devious' Remark Over JP Morgan Lobbying
The files reveal another significant exchange where Epstein called Mandelson "devious" after learning about his lobbying efforts. Mandelson had contacted former Barclays chief Jes Staley, then at JP Morgan, in April 2010 regarding Nathaniel Rothschild's plans to list a £700 million investment vehicle on the London Stock Exchange.
In his communication, Mandelson wrote: "I've been following my friend Nat Rothschild's plans to list a vehicle on the London Stock Exchange and I'm very happy that JP Morgan are now planning to get involved as book runners alongside Credit Suisse. I think it's a great idea from what I see of the global mining business and their prices. I hope it all goes well. Best Easter greetings to you and your family."
When Mandelson shared this exchange with Epstein, who was a close friend of Staley's, Epstein responded with the telling remark: "You are sooooooooooooooo devious." This comment now forms part of the broader picture emerging from the Epstein files about Mandelson's post-government activities and relationships.
Broader Implications for Political-Financial Relationships
The revelations highlight the complex intersections between political figures and financial institutions in post-government careers. Mandelson's experience illustrates both the opportunities and pitfalls that former ministers face when transitioning to corporate roles, particularly when their actions come under subsequent scrutiny through investigations like those stemming from the Epstein files.
The ongoing police investigation into Mandelson's conduct while serving as business secretary adds another layer to this developing story, suggesting that the implications of these revelations may extend beyond reputational damage to potential legal consequences for the Labour peer.
