Crispin Odey is back with his hedge fund firm, Odey Asset Management, which faced significant challenges after multiple allegations of sexual misconduct surfaced against him.
The 65-year-old investor was removed from Odey Asset Management LLP in June of the previous year as the scandal gained traction, but recent filings at Companies House indicate that he was reinstated as a partner last month. Additionally, his holding company, Odey Asset Management Group Limited, has rejoined the partnership.
Odey’s reappointment coincided with the resignation of nine other members of the firm, though he has not responded to requests for comments regarding this development.
Founded in 1991, Odey’s hedge fund was once a prominent player in the UK financial landscape but faced disintegration last year as several financial firms withdrew their business amid the controversy. Odey initially garnered attention by successfully betting against banking stocks before the 2007-09 financial crisis.
Known for his financial backing of the Conservative Party, Odey was also a supporter of Boris Johnson during his leadership campaign and championed the Brexit movement.
The controversy began when the Financial Times published allegations detailing years of purported misconduct. While Odey has denied these accusations, the fallout resulted in a wave of investors withdrawing funds, leaving the firm increasingly vulnerable. The disbanding saw several fund managers depart for competing firms.
Despite the turmoil, Odey remains a multimillionaire from his extensive career in investments, and his reentry into the firm may facilitate personal investment opportunities. However, Odey Asset Management is no longer regulated by the Financial Conduct Authority (FCA), which has stated it is assessing whether Odey meets the criteria to work in financial services, despite having concluded a previous investigation into his firm.