Abrdn faces anti-money laundering failures probe

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Abrdn is facing accusations of anti-money laundering failures and his boss is accused of intimidation and aggression.

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The stock giant, which dropped out of the FTSE 100 for the first time just a few weeks ago, lacked documentation for some clients in its Luxembourg arm.

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This led to the fact that the company had to freeze the accounts of more than 20 institutional clients, according to The Sunday Times.

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Problem at the top: Several current and former employees have accused Stephen Byrd, the chief executive of Abrdn, of bullying and intimidating behavior.

The misfortune came after several current and former employees accused Stephen Byrd, chief executive of Abrdn, of aggressive and intimidating behavior.

He has been tasked with improving the group’s performance as Abdn has failed to impress since its formation in 2017.

A spokesman said Byrd was forced to make “difficult decisions … not all [which] popular, and cannot be.

A spokesperson said Luxembourg was “a historic documentation issue”.

Credit: www.thisismoney.co.uk /

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