Crispin Odey to leave hedge fund after sexual misconduct claims, partners say
- By Marc Ashdown, Business Correspondent & Thomas Mackintosh in London
- BBC News
Crispin Odey, who based Odey Asset Management in 1991, strenuously denies the claims
Partners at a distinguished finance agency have stated its founder, Crispin Odey, is leaving after sexual harassment allegations.
The transfer follows a Financial Times report that 13 girls had accused Mr Odey of sexual harassment or assault over 25 years.
Mr Odey strenuously denies the claims. He informed the paper they had been “rubbish” and hinted he might resist the transfer.
The hedge fund stated it took allegations of misconduct “extremely seriously”.
For greater than three a long time Mr Odey had been on the helm of the hedge fund he based in 1991 – at its peak the agency managed greater than £10bn value of investments.
Mr Odey, a distinguished Brexit backer, claimed to have made a whole bunch of hundreds of thousands of kilos as sterling plummeted within the aftermath of the referendum vote.
On Thursday, the Financial Times reported that the allegations dated again to 1998 and the newest alleged incident was in December 2021.
Mr Odey stated this week that “none of the allegations have been stood up in a courtroom or an investigation”.
Speaking to the Financial Times on Saturday, he additionally advised he might struggle the agency’s choice. “You have to have [a] willing buyer, willing seller,” he informed the paper.
A press release from Odey Asset Management govt on Saturday stated that Mr Odey can be leaving.
“As from today, he will no longer have any economic or personal involvement in the partnership,” it stated.
“Odey Asset Management Group Ltd will also cease to be a member and the partnership will now be owned and controlled by the remaining partners and managed as an independent legal entity.”
The govt committee stated the agency’s insurance policies and procedures “have been followed at all times”.
“The firm has been investigating allegations concerning Mr Odey, but the firm cannot comment in detail as it is bound by legal obligations of confidentiality.”
Odey Asset Management stated it had been “fully transparent” with the regulator Financial Conduct Authority (FCA) and would contact shoppers over the weekend.
