after allegations of abuse
Hedge fund boss Odey leaves his own company
06/11/2023, 12:09 p.m
The allegations against hedge fund boss Crispin Odey weigh heavily. The Brit is said to have abused or molested 13 women between 1998 and 2021. Now the 64-year-old draws consequences.
British hedge fund boss Crispin Odey is leaving the company he founded after allegations of sexual assault were made by several women. “As of today, he will no longer have any economic or personal interest in the partnership,” said a letter from Odey Asset Management executives.
Odey’s downfall came after an article in the Financial Times newspaper on Thursday reported that 13 women, including former employees, accused him of abusing or molesting them between 1998 and 2021. According to the Financial Times, the women said they had never spoken out before because Odey wielded power over young female employees at a highly respected company.
According to the women, the atmosphere in the offices was extremely uncomfortable. Odey is said to have not left it at sexist sayings, such as asking about the size of the bra. Among other things, the hedge fund boss is said to have regularly massaged his employees against their will on various parts of the body. The hedge fund boss told the newspaper the allegations were “nonsense”. Odey did not immediately respond to a request for comment about his departure from the company.
Investment banks distanced
Odey founded his company in 1991 and has long supported the Conservative Party. According to the Sunday Times Rich List, his fortune has risen to over $1 billion in recent years. The size of Odey’s company has changed a lot over the years. According to the company’s website, it had about $4.9 billion under management earlier this year, up from $12 billion nearly a decade ago.
Odey himself only manages part of these funds after retiring in recent years. In response to allegations of harassment and abuse, some investment banks have distanced themselves from the firm.