Montpelier’s Malaysia office reportedly shut

Montpelier, a financial adviser with offices in at least three Asian locations, has had its Kuala Lumpur office closed and two of its employees suspended, “pending [an] audit of business operations”, according to a memo allegedly given out on Friday by Montpelier Malaysia director Keith Bayliss to the company’s employees.

The two suspended employees were said to be Stuart Williamson, Montpelier chief executive, and Diane Docherty.

In the memo, which someone who claimed to be an employee of Montpelier Malaysia forwarded by email to International Investment,  Bayliss told staff that “access to their [Williamson and Docherty’s] place of business” was now “denied until further notice”.

The employee said he had arrived at work on Friday morning “to find the office sealed, guards preventing anyone from entering”, and the memo from Bayliss being handed out.

There was no answer at any of the phone numbers given on the Montpelier website  on Friday, nor was any reply immediately  forthcoming to emails seeking comment sent to various company email addresses.

In a separate development, a Hong Kong Confederation of Insurance Brokers’ document emailed to International Investment shows that an entity called Montpelier Private Clients Ltd was “expelled” last month from HKCIB membership for various infractions, including not having paid its annual membership subscription fee by 1 April 2015.

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

preloader
Close Window
View the Magazine





You need to fill all required fields!