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You can find the current article at its original source at https://www.theguardian.com/business/2023/jun/10/crispin-odey-leaves-odey-asset-management-after-misconduct-allegations
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| Crispin Odey leaves Odey Asset Management after misconduct allegations | Crispin Odey leaves Odey Asset Management after misconduct allegations |
| (32 minutes later) | |
| The hedge fund says Odey will no longer be involved in the firm and it ‘cannot comment in detail’ | |
| Crispin Odey is to leave Odey Asset Management, the partnership said on Saturday, after a series of allegations of misconduct. | Crispin Odey is to leave Odey Asset Management, the partnership said on Saturday, after a series of allegations of misconduct. |
| In a statement, the executive committee of OAM said Odey, who founded the hedge fund, would “no longer have any economic or personal involvement in the partnership”. | |
| It came after a report in the Financial Times, together with Tortoise Media, that included several allegations of sexual harassment or misconduct from women who either worked at the firm or had social or professional dealings with Odey. | It came after a report in the Financial Times, together with Tortoise Media, that included several allegations of sexual harassment or misconduct from women who either worked at the firm or had social or professional dealings with Odey. |
| The statement, signed by the chief executive, Peter Martin, and the chief financial officer, Michael Ede, said the firm had investigated the allegations concerning Odey but “cannot comment in detail as it is bound by legal obligations of confidentiality”. | The statement, signed by the chief executive, Peter Martin, and the chief financial officer, Michael Ede, said the firm had investigated the allegations concerning Odey but “cannot comment in detail as it is bound by legal obligations of confidentiality”. |
| The statement said: “We, the executive committee of Odey Asset Management LLP, are announcing that Mr Crispin Odey is leaving the partnership. | The statement said: “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. | “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. | “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. | “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 cannot comment in detail as it is bound by legal obligations of confidentiality.” | “The firm has been investigating allegations concerning Mr Odey, but cannot comment in detail as it is bound by legal obligations of confidentiality.” |
| The allegations involve 13 women who claim Odey abused or harassed them, with eight of the 13 saying he sexually assaulted them. | The allegations involve 13 women who claim Odey abused or harassed them, with eight of the 13 saying he sexually assaulted them. |
| The alleged incidents happened between 1998 and 2021, the FT reported, after interviewing 40 former employees at OAM. | The alleged incidents happened between 1998 and 2021, the FT reported, after interviewing 40 former employees at OAM. |
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| In a statement to the FT, Odey described the claims as “rubbish”. | In a statement to the FT, Odey described the claims as “rubbish”. |
| On Thursday, it emerged that the Financial Conduct Authority was investigating the company and that banks were rethinking their relationships with the fund. | On Thursday, it emerged that the Financial Conduct Authority was investigating the company and that banks were rethinking their relationships with the fund. |
| On Friday, asset manager Schroders cut ties with OAM and sold its remaining investment in the business, after the allegations. | On Friday, asset manager Schroders cut ties with OAM and sold its remaining investment in the business, after the allegations. |
| The firm said on Saturday it had been “fully transparent with the regulator and kept them informed throughout this process”. |