Crispin Odey has made a return to his hedge fund after stepping down amidst misconduct allegations in 2023, as reported by The Independent. The tycoon has been reinstated as a director at Odey Asset Management, following his departure in June last year in the wake of harassment and assault complaints.
According to filings with Companies House, Mr Odey was appointed as a director of Odey Asset Management in late September. Concurrently, the London-based company changed its address to a location in Chelsea, which has been identified as Mr Odey’s residential property by Bloomberg News. Although Odey Asset Management remains a registered company, it is no longer authorised to manage customer funds, as it sought to cancel its authorised status with the Financial Conduct Authority.
Established in 1991, Crispin Odey’s firm gained notoriety for its substantial investments in the British economy, particularly profiting from the Brexit referendum in 2016. However, the hedge fund empire suffered a significant setback after the Financial Times disclosed sexual harassment and assault allegations in June 2023. Multiple women, who were said to have social or professional connections with Mr Odey, came forward with claims of abuse or harassment, with some alleging sexual assault.
Mr Odey has consistently refuted the allegations, branding them as baseless. He lodged a libel lawsuit against the Financial Times in May, describing himself as a target of a “witch hunt”. Following the publication of the accusations on June 8 last year, Mr Odey resigned from his position at Odey Asset Management, with fund managers and clients subsequently departing for rival firms in the ensuing weeks and months.
Despite the FCA deciding not to take regulatory action against the firm, an investigation into Mr Odey is still ongoing. Under UK regulations, he retains the eligibility to register as a company director. On the day of Mr Odey’s reappointment at Odey AM on September 27, nine former partners officially tendered their resignations from the company, as per the filings.
The reasons behind Mr Odey’s reentry into the company remain unclear. His substantial wealth, estimated at approximately £561 million according to the Bloomberg Billionaires Index, is believed to be primarily invested in the business. Odey Asset Management has been approached for comment on the recent developments regarding Crispin Odey’s return to the firm.