Crispin Odey leaves Odey Asset Management following allegations of misconduct

One of the city’s most prominent hedge fund managers is leaving the investment firm he founded after numerous allegations of sexual harassment.

Crispin Odey will leave Odey Asset Management following allegations that he sexually assaulted or harassed 13 women. A law firm representing the financier has said the allegations are “strongly disputed”.

He financial timesalong with Tortoise Media, published an investigation Thursday with testimonials from victims who said Odey had abused or harassed them between 1998 and 2021.

In a statement issued on Saturday, the executive committee of Odey Asset Management said that Odey “would no longer have any financial or personal interest in the company.”

The statement, which was signed by the firm’s chief executive Peter Martin and chief financial officer Michael Ede, said the firm had investigated the allegations about Odey but “cannot comment in detail because it is bound by legal obligations of confidentiality.” .

The statement read: “We, the executive committee of Odey Asset Management LLP, announce that Mr. Crispin Odey is leaving the company.

“As of today, you will no longer have any economic or personal participation in society. 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 a separate legal entity.”

The executive committee said all allegations of misconduct were taken “extremely seriously.”

Odey, 64, is one of the City of London’s best-known figures and has previously donated to the Conservative Party.

He began donating regularly in 2007 and his total contributions to date exceed £350,000, according to public records examined by the financial times. He was also a prominent Brexit supporter and contributed to groups campaigning for the UK to leave the EU.

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The allegations against Odey have triggered a crisis for Odey Asset Management. Financial firms Canada Life and Schroders have said they are cutting ties with the company, and investment banks Goldman Sachs, JP Morgan Chase and Morgan Stanley are reviewing their relationships with the hedge fund.

He financial times reported Thursday that the Financial Conduct Authority was investigating the company for “non-financial misconduct.”

Odey Asset Management said on Saturday yesterday that it had been “fully transparent with the regulator and kept them informed throughout this process.”

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