Odey moves to shut down another unit following sexual harassment scandal
Odey Asset Management is due to close another company subsidiary as the firm continues to rebuild following a sexual harassment scandal involving founder Crispin Odey.
Subsidiary Brook Asset Management has filed a First Gazette notice on Companies House, meaning it has declared its intention to strike the company off the register and will eventually cease to exist.
The firm announced earlier this month that it was also planning to close down its wealth business.
The closures come after Crispin Odey, who the firm is named after, was ousted from the hedge fund in June after a series of sexual harassment or misconduct allegations against him were published by the Financial Times and Tortoise Media. Odey said at the time the allegations – which date from between 1998 and 2021 – were “rubbish”.
As many as 20 women have come forward making allegations against Odey, according to the Financial Times.
Odey has admitted to one incident of misconduct.
Responding to one of the complaints, he told the Financial Times: “The girl concerned did work for me in 2005 and I did grab her breasts and it was reported and investigated… I had just come back from having two hours [of] canal root fillings and was under heavy medication.”
The Financial Conduct Authority (FCA) is currently investigating Crispin Odey to assess whether he is a “fit and proper” person to work in the financial services industry.
The FCA declined to comment while Odey Asset Management did not immediately respond to a request for comment.