Wednesday, 17 Apr 2024

Top financier Crispin Odey faces City watchdog probe

Top financier Crispin Odey faces City watchdog probe over sexual assault and harassment claims

  • The Financial Times said 13 women alleged he had abused or harassed them 

Crispin Odey, one of Britain’s leading financiers, is facing an investigation into his firm by the City watchdog after a series of allegations of sexual assault and harassment were made against him.

The hedge fund manager also faces being cut off from Wall Street banks Morgan Stanley and JP Morgan, which are reviewing their relationships with Odey Asset Management.

A report by the Financial Times said 13 women alleged Mr Odey had abused or harassed them over a period between 1998 and 2021.

The Financial Conduct Authority (FCA) is reported to have already looked at allegations of ‘non-financial misconduct’ at Mr Odey’s firm as part of an investigation dating back two years. 

It is understood the probe will be widened in light of the new claims.

Crispin Odey (pictured), one of Britain’s leading financiers, is facing an investigation into his firm by the City watchdog after a series of allegations of sexual assault and harassment were made against him

The hedge fund manager also faces being cut off from Wall Street banks Morgan Stanley and JP Morgan, which are reviewing their relationships with Odey Asset Management

Tory MP Harriett Baldwin, chairman of the Treasury select committee, said the FT’s report ‘paints a troubling picture of an inappropriate work environment’.

But Mr Odey told Reuters: ‘This is a rehash of an old article and none of the allegations have been stood up in a courtroom or investigation.’ 

A law firm representing him previously said he ‘strenuously disputed’ the claims.

Mr Odey, 64, a Tory donor who made his name betting against banking shares during the 2008 financial crisis, was previously cleared of indecent assault charges in 2021.

The FT reported that an internal investigation which ended earlier in 2021 concluded he had behaved inappropriately with female staff. 

It said the firm’s executive committee had given him a final written warning.

After a second internal probe later that year, Mr Odey sacked the executive committee, according to the FT.

The FCA declined to comment on the investigation. But a spokesman said it takes allegations of non-financial misconduct seriously and expect firms to have ‘adequate governance procedures in place’.

Odey Asset Management, JP Morgan and Morgan Stanley all declined to comment yesterday.

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