LONDON, June 15 — Odey Asset Management will be dismantled with activities transferred to other firms, the high-profile British hedge fund said today, after its founder was accused of sexual assault against eight women.
"Acting in the best interest of our investors and our staff has continued to be our primary concern over the past few days," it added in a statement after Crispin Odey quit the group at the weekend. He denies the allegations.
The company said it was "in advanced discussions for rehousing funds and transferring certain fund management activities and individuals to other asset managers".
The allegations against Crispin Odey, a vocal Brexit supporter and Conservative party donor, had emerged in the Financial Times newspaper one week ago.
A further five women alleged they had been abused or harassed by Odey, the FT said.
Odey, 64, well known for making huge sums from betting heavily against the British pound and UK government bonds in recent years, has described the allegations as "rubbish".
The FT probe focused on incidents said to have occurred between 1998 and 2021.
It cited 13 women who have worked for Odey Asset Management or had social or professional dealings with its founder, the business daily said.
A British court ruling in 2021 found Odey not guilty of sexual assault against a female banker.
The allegations follow separate recent reports by another British newspaper, The Guardian, revealing similar claims made by women at main UK business lobby group, the CBI.
These have led to a shake-up at the organisation as it struggles to rebuild trust. — AFP
