Odey Asset Management is closing its doors for good – less than six months after its disgraced founder Crispin Odey faced fresh allegations of sexual misconduct.
The 32-year-old company said that it would wind down after moving its funds and managers elsewhere.
This will include shutting both Brook Asset Management and Odey Wealth, it said on its website.
Odey Asset Management was thrown into the spotlight in June when the Financial Times published allegations of sexual harassment or misconduct against Odey, which he denies.
The alleged incidents happened between 1998 and 2021 and involved 13 women who had either worked for Odey Asset Management or had professional dealings with Odey.
Disgraced: Crispin Odey (pictured), who founded Odey Asset Management in 1991 is alleged to have been involved in incidents with 13 women between 1998 and 2021
In 2021, Odey was found not guilty in a court case in which he had been accused of an indecent assault in 1998.
But the fresh crisis led to clients, including banks such as JP Morgan, pulling money from the funds, and companies that provided services to the investment group cutting ties.
Odey was removed from the firm that he had established in 1991 and it was decided that the fund would be broken up.
At its peak, Odey Asset Management had £11billion assets under management and ran about £3billion as of last year.
Odey is under investigation from regulators over his fitness to work in the financial services industry.
