Odey Asset Management is finally closing its doors – less than six months after its disgraced founder Crispin Odey faced new allegations of sexual misconduct.
The 32-year-old company said it would dissolve after moving its resources and managers elsewhere.
This will include the closure of Brook Asset Management and Odey Wealth, the company’s website says.
Odey Asset Management came into the spotlight in June when the Financial Times published allegations of sexual harassment or misconduct against Odey, which he denies.
The alleged incidents occurred between 1998 and 2021 and involved 13 women who either worked for Odey Asset Management or had professional dealings with Odey.
Disgraced: Crispin Odey (pictured), who founded Odey Asset Management in 1991, is said to have been involved in incidents involving 13 women between 1998 and 2021
In 2021, Odey was found not guilty in a trial in which he was accused of indecent assault in 1998.
But the new crisis caused clients, including banks like JP Morgan, to withdraw money from the funds and companies that provided services to the investment group to cut ties.
Odey was removed from the company he founded in 1991 and a decision was made to wind up the fund.
At its peak, Odey Asset Management managed £11bn of assets and managed around £3bn last year.
Odey is being investigated by regulators because of his suitability to work in the financial services industry.