One by one, investment funds and banks are severing ties with Odey Asset Management, whose founder Crispin Odey, according to the Financial Times, faces more than ten charges of sexual abuse.

The world’s two largest investment banks, Morgan Stanley and JP Morgan, are in the process of severing ties, and Exane, the investment arm of BNP Baribas, has severed all ties with Odey. At the same time, well-known companies of the city are considering similar actions.

On Thursday, June 8, 13 women accused Odie of abuse or harassment after a detailed investigation by the Financial Times. Oday denied the allegations, saying they were untrue and that his relationships with women at the time were “consensual”.

The latest sexual assault allegedly took place in December 2021 after a dinner at Odie’s mansion in Gloucestershire, Eastbach Court. A woman known to Odie told the FT that after he invited her to discuss a legal matter in private, he then brutally assaulted her.

The investigation also found that partners at Odey Asset Management have been aware of the alleged mistreatment of women since 2004, when a secretary resigned and filed a complaint against the company.

An FT investigation revealed that the company’s executive board tried to recommend action against Odie in December 2021 after he violated “the last written warning.” But instead, Odey fired the council members.

News of the FCA investigation came after Morgan Stanley decided to cut ties with the firm following the FT revelations. As he told Reuters on Thursday, DayMorgan Stanley’s move is “a reflex reaction to the FT’s statement,” adding that “not a single case went to trial.”

Who is a hedge fund manager and major Tory donor

According to The New York Times, Audie rose to fame during the 2008 financial crisis when he sold shares in banks, which helped him earn nearly £28 million that year. In that year, his performance was 54.8%. He has been negative about the position of banks for years, selling Bradford & Bingley back in 2005, questioning German Landesbanks and constantly warning of the dangers of debt and inflated house prices.

He continued his short positions until early 2009, but went long in April as he predicted the market would rise this year. In 2008, the Times called Odie “the big shot in the business”.

Between 2007 and 2019, Odey made political donations totaling £1.7 million, according to the Electoral Commission.

Most of them were from him personally, but some were from his company Odey Asset Management. The largest donations, totaling £1.3 million, were made to pro-Brexit groups during the EU referendum.

According to FT, Reuters, Guardian