Odey rejoins hedge firm after sexual misconduct claims

Crispin Odey has rejoined the remnants of his eponymous hedge-fund firm that imploded when he was accused of sexual misconduct by a series of women.
Odey, 65, was ousted from Odey Asset Management LLP by its other partners in June last year when the scandal erupted but was reappointed as a member of the partnership last month, according to filings at Companies House. His holding company, Odey Asset Management Group Limited, also rejoined the partnership, the filings show.
Odey did not return requests for comment on his reappointment, which came on the same day that nine other individuals formally stepped down as members.
His business, which he founded in 1991, was once one of Britain’s best-known hedge funds but was broken up last year when City firms began to cut ties with it amid the furore, impairing its ability to operate. He shot to fame after making a lucrative bet against banking shares in the run-up to the 2007-09 financial crisis.
A figure in establishment circles, he has been a donor to the Conservative Party and contributed to Boris Johnson’s leadership campaign, as well as backing Brexit.
The scandal began when the Financial Times reported allegations of misconduct against him stretching back years. Odey denied the claims. However, investors rushed to pull their money from the firm’s funds and it was left increasingly isolated in the City. The break-up of the business involved its other fund managers moving to rival firms.
Odey is a multimillionaire thanks to his long investing career and it is possible that returning to the firm could help him to invest his own money. The business is no longer authorised by the Financial Conduct Authority, the City regulator. The watchdog has previously said it is investigating whether Odey is “fit and proper” to work in financial services, although it last year closed an inquiry into his firm.