{"id":39371,"date":"2023-10-31T18:34:54","date_gmt":"2023-10-31T18:34:54","guid":{"rendered":"https:\/\/prosfunds.com\/business\/odey-asset-management-to-close-after-sexual-assault-allegations-against-founder\/"},"modified":"2023-10-31T18:34:54","modified_gmt":"2023-10-31T18:34:54","slug":"odey-asset-management-to-close-after-sexual-assault-allegations-against-founder","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=39371","title":{"rendered":"Odey Asset Management to close after sexual assault allegations against founder"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=432dbfef-71fd-471e-9e05-a81b1a46f3a6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Odey Asset Management is to close five months after allegations of sexual assault and harassment against its founder, Crispin Odey, plunged one of London\u2019s oldest hedge fund groups into crisis. <\/p>\n<p>The firm, which the 64-year-old founded in 1991, announced on its website on Tuesday: \u201cOdey Asset Management, including Brook Asset Management and Odey Wealth, will be closing. Fund Managers and Funds have moved to new Asset Managers.\u201d<\/p>\n<p>The firm has been engulfed in crisis since a Financial Times investigation in June reported claims from 13 women against Odey over alleged sexual misconduct carried out over decades. <\/p>\n<p>The hedge fund mogul and Conservative party donor was widely considered one of the last mavericks of London\u2019s hedge fund scene. Odey had a reputation for making outlandish bets on markets and mingling with society\u2019s elite at hunting weekends or political heavyweights over lunch. <\/p>\n<p>The allegations prompted key banking partners to quickly sever ties with the group and investors to pull their money, forcing the firm to suspend certain funds and shut others. The group managed $13.3bn in assets at its peak and still ran $3.8bn last year.<\/p>\n<p>The firm\u2019s partners ousted Odey from the business he founded, key fund managers including James Hanbury and Jamie Grimston have joined rivals, and the group left its longstanding Mayfair office in August.<\/p>\n<p>The UK financial regulator opened probes into both the firm and its founder. The Financial Conduct Authority declined to comment. <\/p>\n<p>Following publication of the FT\u2019s initial investigation, seven further women came forward with similar allegations, bringing the total number to 20. Of those, 12 were former employees of the firm. <\/p>\n<p>One of the women who said she was sexually assaulted by Odey said on Tuesday that the firm\u2019s closure \u201cmust serve as a warning to all those in positions of power to realise they will no longer be able to get away with improper and illegal behaviour using wealth as their shield, either in or out of the workplace\u201d. <\/p>\n<p>\u201cMy overriding reaction is one of hope,\u201d said another of the women who accused Odey of sexual assault. \u201cI pray not naive hope. The fact that his demise, once it started, was so swift and clear, does give me hope that attitudes are changing and that women might start to believe that they can speak up.\u201d<\/p>\n<p>Odey did not immediately respond to a request for comment. <\/p>\n<p>The financier strenuously denied the first set of allegations and did not respond to a request for comment regarding the next six women\u2019s accusations. <\/p>\n<p>He first admitted an incident of misconduct when the 20th woman came forward to the FT with her account in September. He said he \u201cdid grab her breasts\u201d but said the incident was an \u201caberration\u201d and blamed it on an anaesthetic he had been given that day at the dentist.<\/p>\n<p>Both Odey and the firm face a lawsuit from two of his alleged victims for personal injury and psychological harm. Odey and the firm are yet to formally respond to the claim, which has been filed in London\u2019s High Court.<\/p>\n<p><em>Additional reporting by Jane Croft in London<\/em><\/p>\n<div class=\"n-content-video n-content-video--internal\">\n<div class=\"n-content-video__placeholder\" data-o-component=\"o-video\" data-o-video-id=\"28a23a86-adc8-46eb-b13a-2f439e27db85\"><span>Video: Crispin Odey: the fall of a hedge fund maverick | FT Film<\/span><\/div>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/432dbfef-71fd-471e-9e05-a81b1a46f3a6\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Odey Asset Management is to close five months after allegations of sexual assault and harassment against its founder, Crispin Odey, plunged one of London\u2019s oldest hedge fund groups into crisis. The firm, which the 64-year-old [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-39371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Odey Asset Management to close after sexual assault allegations against founder | Prosfunds<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=39371\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Odey Asset Management to close after sexual assault allegations against founder | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=39371\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T18:34:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-wall.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=39371#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=39371\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"Odey Asset Management to close after sexual assault allegations against founder\",\"datePublished\":\"2023-10-31T18:34:54+00:00\",\"dateModified\":\"2023-10-31T18:34:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=39371\"},\"wordCount\":565,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=39371#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=39371\",\"url\":\"https:\/\/prosfunds.com\/?p=39371\",\"name\":\"Odey Asset Management to close after sexual assault allegations against founder | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2023-10-31T18:34:54+00:00\",\"dateModified\":\"2023-10-31T18:34:54+00:00\",\"description\":\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=39371#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=39371\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=39371#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Odey Asset Management to close after sexual assault allegations against founder\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Odey Asset Management to close after sexual assault allegations against founder | Prosfunds","description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=39371","og_locale":"en_US","og_type":"article","og_title":"Odey Asset Management to close after sexual assault allegations against founder | Prosfunds","og_description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to","og_url":"https:\/\/prosfunds.com\/?p=39371","og_site_name":"Prosfunds","article_published_time":"2023-10-31T18:34:54+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-wall.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=39371#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=39371"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"Odey Asset Management to close after sexual assault allegations against founder","datePublished":"2023-10-31T18:34:54+00:00","dateModified":"2023-10-31T18:34:54+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=39371"},"wordCount":565,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=39371#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=39371","url":"https:\/\/prosfunds.com\/?p=39371","name":"Odey Asset Management to close after sexual assault allegations against founder | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2023-10-31T18:34:54+00:00","dateModified":"2023-10-31T18:34:54+00:00","description":"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Odey Asset Management is to","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=39371#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=39371"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=39371#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"Odey Asset Management to close after sexual assault allegations against founder"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/39371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39371"}],"version-history":[{"count":0,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/39371\/revisions"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}