- By Marc Ashdown, Business Correspondent and Thomas Mackintosh in London
- BBC News
June 10, 2023
Updated 51 minutes ago
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Crispin Odey, who founded Odey Asset Management in 1991, vigorously denies the claims
Partners at a well-known financial firm announced that founder Crispin Odey is leaving the company amid allegations of sexual harassment.
The move follows a report by the Financial Times that 13 women had accused Mr Odey of sexual harassment or assault over a 25-year period.
Mr Odey vigorously denies the allegations. He told the newspaper it was “rubbish” and indicated he could resist the move.
The hedge fund said it takes the allegations of misconduct “extremely seriously”.
Mr Odey has been at the helm of the hedge fund he founded in 1991 for more than three decades – at its peak the company managed investments worth over £10 billion.
Mr Odey, a prominent Brexit supporter, claimed to have made hundreds of millions of pounds when the pound plummeted after the referendum vote.
On Thursday, the Financial Times reported that the allegations date back to 1998 and the last alleged incident took place in December 2021.
Mr Odey said this week that “none of the allegations have been confirmed in a courtroom or inquest”.
Speaking to the Financial Times on Saturday, he also suggested he could challenge the company’s decision. “You have to have that [a] “Willing buyer, willing seller,” he told the newspaper.
A statement from Odey Asset Management’s chief executive on Saturday said Mr Odey would be leaving the company.
“As of today, he is neither economically nor personally involved 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 administered as an independent legal entity.”
The board said the company’s policies and procedures “have been followed at all times.”
“The company has investigated allegations against Mr. Odey but cannot comment in detail as it is bound by statutory confidentiality obligations.”
Odey Asset Management said it had been “entirely transparent” with regulator Financial Conduct Authority (FCA) and would be in touch with clients over the weekend.