The wealth management arm of Crispin Odey’s ill-fated firm is to be wound down.
The move comes as little surprise, given the ongoing break-up of Odey Asset Management triggered by multiple accusations of harassment and other misconduct levelled at Odey, first reported by the Financial Times. He denies the allegations.
The FCA said it is working with the firm as it winds down the operations. Money still under management will be returned to investors.
Various funds under the Odey banner, such as the Special Situations offering, are in the process of being transferred to new homes and rebranded in order to salvage something from the wreckage of the formerly highly respected firm.
The FCA is continuing to complete investigations into both Odey Asset Management as a firm and its founder, which first began in 2021.