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Crispin Odey leaves hedge fund after sexual misconduct allegations, partners say




  • By Marc Ashdown, Business Correspondent and Thomas Mackintosh in London
  • BBC news

Caption,

Crispin Odey, who founded Odey Asset Management in 1991, strongly denies the allegations

Partners at a prominent financial firm have said its founder, Crispin Odey, is stepping down after allegations of sexual harassment.

The move follows a Financial Times report that 13 women had accused Odey of sexual harassment or assault over 25 years.

Odey vehemently denies the allegations. He told the paper they were “rubbish” and suggested he might resist the move.

The hedge fund said it took allegations of misconduct “extremely seriously”.

For more than three decades, Mr Odey had been at the helm of the hedge fund he founded in 1991 – at its peak the firm managed more than £10bn of investments.

Odey, a prominent Brexit supporter, claimed to have made hundreds of millions of pounds as the pound fell in the wake of the referendum.

On Thursday, the Financial Times reported that the allegations date back to 1998 and the last alleged incident was in December 2021.

Odey said this week that “none of the allegations have been made in a courtroom or an investigation”.

Speaking to the Financial Times on Saturday, he also suggested he might fight the firm’s decision. “You must have [a] willing buyer, willing seller,” he told the newspaper.

A statement from an Odey Asset Management executive on Saturday said Odey would be leaving.

“As of today, he will no longer have any financial or personal involvement in the partnership,” it said.

“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 executive committee said the firm’s policies and procedures “have been followed at all times”.

“The firm has investigated allegations about Odey, but the firm cannot comment in detail as it is bound by legal obligations of confidentiality.”

Odey Asset Management said it had been “fully transparent” with the regulator the Financial Conduct Authority (FCA) and would contact clients over the weekend.



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