Crispin Odey leaving hedge fund following misconduct allegations
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rispin Odey is to go away Odey Asset Management, the partnership mentioned on Saturday, following a collection of allegations of misconduct.
In an announcement, the chief committee of OAM mentioned Mr Odey, who based the hedge fund, will “no longer have any economic or personal involvement in the partnership”.
It follows a report within the Financial Times (FT), along with Tortoise Media, which included a number of allegations of sexual harassment or misconduct from ladies who both labored on the agency or had social or skilled dealings with Mr Odey.
The assertion, signed by chief government Peter Martin and chief monetary officer Michael Ede, mentioned the agency investigated the allegations regarding Mr Odey however “cannot comment in detail as it is bound by legal obligations of confidentiality”.
As from at this time, he’ll not have any financial or private involvement within the partnership
The assertion mentioned: “We, the executive committee of Odey Asset Management LLP, are announcing that Mr Crispin Odey is leaving the partnership.
“As from today, he will no longer have any economic or personal involvement in the partnership.
“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.
“As we have said previously the executive committee takes all allegations of misconduct extremely seriously. The firm has robust policies and procedures that 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.”
The allegations contain 13 ladies who declare that Mr Odey abused or harassed them, with eight of the 13 saying he sexually assaulted them.
The alleged incidents occurred between 1998 and 2021, the FT reported, after interviewing 40 former workers at Odey Asset Management.
In an announcement to the FT, Mr Odey described the claims as “rubbish”.
On Thursday it emerged that the Financial Conduct Authority (FCA) is investigating the corporate and that banks are rethinking their relationships with the fund.
On Friday, asset supervisor Schroders lower ties with OAM and offered its remaining funding within the enterprise, following the allegations.
The agency mentioned on Saturday it has been “fully transparent with the regulator and kept them informed throughout this process”.