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Montpelier Malaysia suspends two directors, shuts office

By Kirsten Hastings, 12 Feb 16

Wealth management and financial planning firm Montpelier Malaysia on Friday suspended directors Stuart Williamson and Diane Docherty and closed its Kuala Lumpur office.

Wealth management and financial planning firm Montpelier Malaysia on Friday suspended directors Stuart Williamson and Diane Docherty and closed its Kuala Lumpur office.

In a copy of a letter to employees obtained by International Adviser, Keith Bayliss, director of Montpelier Malaysia, advised:

“Re: Office access denied until further notice. I write to advise that Stuart Williamson and Diane Docherty have been suspended with immediate effect, pending audit of business operations.

“Under these circumstances access to their place of business for all staff is denied until further notice.”

Office guarded

An employee told International Adviser that they arrived at the office Friday morning to find it sealed, with guards outside preventing people from entering. A letter to employees was handed out informing them of the action taken against Williamson and Docherty.

Montpelier was incorporated in Malaysia in 1993. The company had over 50 staff members and was headed by Williamson.

Tags: Malaysia

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.