World’s Biggest Banks Pull Back From Odey After New Allegations

As a journalist, I can report that two major investment banks, Morgan Stanley and JP Morgan, have distanced themselves from Odey Asset Management after the head of the London-based hedge fund, Crisp Odey, was accused of years of sexual misconduct. The allegations were made public on June 8, 2023, and have caused a stir in the financial world.

According to a report by The Telegraph, a law firm representing Mr. Odey said he “strenuously disputed” the allegations. However, the banks have taken action to distance themselves from the hedge fund, with Morgan Stanley reportedly “having to pedal back hard” due to regulatory requirements.

This news comes as a blow to Odey Asset Management, which manages over $4 billion in assets. The firm has been a major player in the hedge fund industry for over 30 years, and Mr. Odey himself is a well-known figure in the financial world.

The allegations against Mr. Odey are the latest in a series of high-profile cases of sexual misconduct in the financial industry. The #MeToo movement has brought attention to the issue of sexual harassment and assault in the workplace, and many companies are now taking steps to address the problem.

As a journalist, it is important to report on these issues and hold those in power accountable for their actions. The allegations against Mr. Odey are serious, and it is important that the banks and the public take them seriously. I will continue to follow this story and report on any new developments.