This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-65866895
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Crispin Odey to leave hedge fund after sexual misconduct claims, partners say | |
| (about 16 hours later) | |
| Crispin Odey, who founded Odey Asset Management in 1991, strenuously denies the claims | Crispin Odey, who founded Odey Asset Management in 1991, strenuously denies the claims |
| Partners at a prominent finance firm have said its founder, Crispin Odey, is leaving after sexual harassment allegations. | |
| The move follows a Financial Times report that 13 women had accused Mr Odey of sexual harassment or assault over 25 years. | |
| Mr Odey strenuously denies the claims. He told the paper they were "rubbish" and hinted he could 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 worth of investments. | 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 worth of investments. |
| Mr Odey, a prominent Brexit backer, claimed to have made hundreds of millions of pounds as sterling plummeted in the aftermath of the referendum vote. | Mr Odey, a prominent Brexit backer, claimed to have made hundreds of millions of pounds as sterling plummeted in the aftermath of the referendum vote. |
| On Thursday, the Financial Times reported that the allegations dated back to 1998 and the latest alleged incident was in December 2021. | On Thursday, the Financial Times reported that the allegations dated back to 1998 and the latest alleged incident was in December 2021. |
| Mr Odey said this week that "none of the allegations have been stood up in a courtroom or an investigation". | Mr Odey said this week that "none of the allegations have been stood up in a courtroom or an investigation". |
| Speaking to the Financial Times on Saturday, he also suggested he could fight the firm's decision. "You have to have [a] willing buyer, willing seller," he told the paper. | |
| A statement from Odey Asset Management executive on Saturday said that Mr Odey would be leaving. | |
| "As from today, he will no longer have any economic or personal involvement in the partnership," it said. | "As from today, he will no longer have any economic 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." | "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 executive committee said the firm's policies and procedures "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 firm has been investigating allegations concerning Mr 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 Financial Conduct Authority (FCA) and would contact clients over the weekend. | Odey Asset Management said it had been "fully transparent" with the regulator Financial Conduct Authority (FCA) and would contact clients over the weekend. |