© Reuters. FILE PHOTO: Britain’s Crispin Odey arrives at Westminster Magistrates Courtroom in London, Britain September 28, 2020. REUTERS/Hannah McKay/File Photograph
LONDON (Reuters) – Odey Asset Administration Partnership has named replacements for Crispin Odey on key funds after severing “private and financial involvement” with him following allegations of sexual misconduct, stated a letter seen by Reuters on Sunday.
The agency, which had $4.8 billion in property underneath administration as of September 2022, introduced on Saturday Odey can be leaving the corporate. He denies the allegations of misconduct.
Freddie Neave will take over full accountability of the Odey European Inc (OEI) and OEI Mac funds, the letter stated. James Hanbury will assume management of the LP Odey Opus Fund, and Oliver Kelton will take the Odey Pan European Fund.
Odey Swan Fund shall be taken on by Neave as an interim chief earlier than a last fund supervisor is set upon by the board, stated the letter.
The letter additionally stated Odey Asset Administration had held “constructive dialogue” over the weekend with its prime brokers, which assist facilitate trades.
Because the publication of the allegations of sexual misconduct, three Wall Avenue companies which are Odey Asset Administration’s prime brokers – Goldman Sachs (NYSE:), JPMorgan (NYSE:) and Morgan Stanley (NYSE:) – moved to assessment or minimize ties with the enterprise.
The Monetary Instances reported on Sunday that the EU funds managed by Odey Asset Administration have been discussing restrictions on buyers’ withdrawals as a part of emergency measures to comprise the fallout of the allegations in opposition to Crispin Odey.
The restrictions on investor withdrawals into consideration are because of considerations that the corporate could undergo excessive outflows within the subsequent few days, the FT report added, citing individuals with information of the discussions.
Odey Asset Administration has not instantly responded to a Reuters request for touch upon the FT report.
The Monetary Instances and Tortoise, in a joint publication on Thursday, reported allegations by 13 ladies that Odey had sexually assaulted or harassed them over a 25-year interval.
Odey and Duncan Lamont, a advisor at legislation agency Charles Russell Speechlys, which represents Odey Asset Administration (OAM), on Saturday didn’t instantly reply to a Reuters request for remark concerning the hedge fund supervisor’s departure.
