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Home»Finance»Odey Asset Management tells investors ‘confident’ banks will continue to work with fund
Finance

Odey Asset Management tells investors ‘confident’ banks will continue to work with fund

June 9, 2023No Comments2 Mins Read
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LONDON, June 9 (Reuters) – Odey Asset Administration “doesn’t recognise the image of the agency that has been painted” by allegations of sexual misconduct by Crispin Odey printed by media on Thursday, it instructed buyers in a letter seen by Reuters.

The letter, dated June 8 and signed by Peter Martin, the corporate’s chief govt, mentioned that for authorized causes the agency wouldn’t remark intimately on the allegations and “actions taken by prime brokers and different service suppliers to OAM.”

The FT and Tortoise reported that 13 ladies alleged founder and proprietor Odey, one in every of Britain’s best-known hedge fund managers, had sexually assaulted or harassed them over a 25-year interval.

Goldman Sachs (GS.N), JPMorgan (JPM.N) and Morgan Stanley (MS.N) are reviewing their prime broking relationships with Odey Asset Administration, sources aware of the matter mentioned on Thursday.

“We’re assured our service suppliers will proceed to work with us,” the OAM letter mentioned.

The agency has “sturdy insurance policies and procedures in place to make sure that the agency always complies with all of its authorized and regulatory obligations. Employees wellbeing can also be central to the tradition of OAM’s enterprise,” it mentioned.

The corporate mentioned the effectively being of workers members was a precedence in addition to the curiosity of shoppers and buyers.

Whereas a number of calls and emails have been addressed to the agency on Thursday, the letter to buyers is the corporate’s first response. Bloomberg first reported information of the letter.

Odey instructed Reuters on Thursday the FT report was a “rehash of an outdated article” and that not one of the allegations have been stood up in a court docket or in an investigation.

Reporting by Nell Mackenzie; modifying by Dhara Ranasinghe and Elisa Martinuzzi

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