(Bloomberg) -- Prime Minister Keir Starmer has confirmed he is appointing trade expert and Labour Party veteran Peter Mandelson as the UK’s next ambassador to Washington.
“The United States is one of our most important allies and as we move into a new chapter in our friendship, Peter will bring unrivaled experience to the role and take our partnership from strength to strength,” Starmer said in a statement released by his office on Friday.
Mandelson will take up the role in the new year, Downing Street said. Bloomberg reported the decision on Thursday.
Mandelson, who was the UK’s business secretary and president of the Board of Trade during Gordon Brown’s premiership, was chosen for his trade credentials, in an effort to spare Britain from being hit by tariffs by Donald Trump, according to people familiar with the matter. He was also the European commissioner for trade between 2004 and 2008.
“We face challenges in Britain but also big opportunities and it will be a privilege to work with the government to land those opportunities, both for our economy and our nation’s security, and to advance our historic alliance with the United States,” said Mandelson, 71.
Mandelson will now have to decide what to do with his 28% stake in Global Counsel, the lobbying group he co-founded. His holding is estimated to be worth £8.4 million ($11 million), presenting a potential conflict of interest in his role as ambassador.
Mandelson will make sure that he will make sure there is no perceived of actual conflict, but details are still being worked through, according to one person familiar with the discussions.
--With assistance from Philip Aldrick.
(Updates with Global Counsel stake in sixth paragraph.)
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