Companies

Odey Asset Management seeks to wind up wealth business

Sexual misconduct allegations against Crispin Odey have reportedly impacted majority of firm’s $4.4 billion assets

Crispin Odey: Eponymous Odey Asset Management founder, has stepped down amid a series of allegations of sexual misconduct. Picture: Bloomberg

Odey Asset Management plans to close down its wealth businesses after Crispin Odey, its eponymous founder, stepped down amid a series of allegations against his behaviour.

The Financial Conduct Authority (FCA) said it is “aware” of the plan to wind down the wealth management unit and is working to ensure clients are treated fairly.

The Financial Times (FT) reported that the business is shutting in the UK and Guernsey, citing people familiar with the matter.