Odey Asset Management is closing its wealth business and returning assets to clients after its founder Crispin Odey was accused of sexual misconduct, the Financial Times reported, citing people it didn’t name.
(Bloomberg) — Odey Asset Management is closing its wealth business and returning assets to clients after its founder Crispin Odey was accused of sexual misconduct, the Financial Times reported, citing people it didn’t name.
The firm is closing the wealth business both in Guernsey and the UK, the newspaper said.
The embattled asset manager has been shutting many funds as part of a reorganization in the wake of sexual assault allegations against Odey, which he has disputed. The 64-year-old former executive is facing lawsuits even as numerous banks cut ties and investors raced toward the exit.
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