Crispin Odey, founder of Odey Asset Management, has denied allegations of inappropriate behaviour towards female employees as he appeals the Financial Conduct Authority’s (FCA) decision to impose an industry ban. Odey Asset Management, established in 1991, is a hedge fund firm that gained prominence during the 2008 financial crisis through short-selling bank shares. The company later closed in 2023 amid sexual assault allegations against Odey.
The FCA’s ban stems from concerns about Odey’s integrity and his handling of sexual harassment investigations within his firm. The regulator alleges that Odey deliberately obstructed internal disciplinary processes by dismissing executive committee members in 2021 and 2022. Odey, however, contends that these actions were necessary to protect Odey Asset Management during an “existential crisis”. The ban would prevent him from working in the British financial services industry.
During his testimony at London’s Upper Tribunal, Odey expressed embarrassment regarding an incident where he groped a staff member. While admitting to being a “dinosaur”, he generally defended his overall conduct. He stated that he never knowingly made women uncomfortable and that he gained insight into his behaviour following a disciplinary hearing, realising it was inappropriate to “chat up” young staff members. He claimed that after apologising to one woman, following an incident in 2005, she continued to work at OAM for nearly another decade.
Odey’s testimony is the first of two appearances this year, preceding a joint trial in June involving his libel lawsuit against the Financial Times and personal injury lawsuits brought against him by five women. Odey was acquitted in 2021 on charges of sexually assaulting a woman in 1998.
