Arabnews24.ca:Thursday 8 June 2023 11:39 AM: Two of the world's largest investment banks are reportedly reviewing their broking relationships with the UK's Odey Asset Management amid allegations of long-term sexual misconduct by its founder.
The Financial Times alleged that Crispin Odey had faced a string of complaints about his behaviour over decades.
Its investigation highlighted allegations of sexual harassment or assault by 13 women against the wealthy hedge fund manager over a 25-year period.
Mr Odey, who is believed to be worth hundreds of millions of pounds, has strenuously denied the claims.
The Reuters news agency, citing sources, said that JPMorgan and Morgan Stanley were reviewing their prime broking relationships with Odey Asset Management in the wake of the FT report.
Neither bank has yet commented.
But Mr Odey said of the report: "That is a massively quick reaction to an allegation by the FT.
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"This is a rehash of an old article and none of the allegations have been stood up in a courtroom or an investigation."
He stepped down as co-CEO of Odey during the COVID pandemic but remains a major shareholder.
Mr Odey was later cleared of indecent assault charges by a UK court in 2021 and told by the judge in the case that he could leave the building with his "good character intact".
It is understood that the 64-year-old, who is a donor to the Conservative Party, has been married three times and has three children.