Now report that Montpelier KL staff not paid

The Montpelier Malaysia advisory firm that was reported to have closed earlier this month, “pending an audit of business operations” according to a memo allegedly given out by a company director, is now said to have told staff that they won’t be paid today, as expected.

Instead, “an announcement regarding salaries” is to be made tomorrow, staffers have been told, according to an employee there, who requested anonymity.

“All starting to sound very ominous”, the anonymous source added, in an email on Monday to this publication.

Calls and emails to Montpelier seeking comment, as well as to two executives of Greenwood Private Wealth Management Ltd, weren’t immediately returned or replied to.

As reported, Montpelier was reported earlier this month to have closed, after two employees were suspended. According to an anonymous tip-off received by International Investment, the employees were said to be Stuart Williamson, Montpelier chief executive, and Diane Docherty, whose title wasn’t given.

The offices opened again the following Monday, but few further details were forthcoming, and the company’s officials didn’t reply to requests for comment.

Montpelier was incorporated in Malaysia in 1993, and currently has offices as well in Thailand and Labuan, according to its website.

Among its specialist areas is providing wealth management advice to teachers, and its website boasts of its affiliation with such organisations as the Council of British International Schools, the Federation of British Schools in Asia and the East Asia Regional Council of Schools.

ABOUT THE AUTHOR
Helen Burggraf
Helen Burggraf is the editor of International Investment. A US-trained journalist, she has worked in Rome, New York City and London, covering everything from the fashion and retailing industries to the global drinking water and water-treatment sector, private equity, and most recently, the international cross-border financial services/advice industry.

Read more from Helen Burggraf

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