© Reuters. Briton Crispin Ode arrives at Westminster Magistrates Court in London on September 28, 2020. REUTERS/Hannah McKay/File Photo
LONDON (Reuters) – Odi Asset Management Partnership has appointed replacements for Crispin Odi in master funds after it cut off “personal and economic involvement” with him following allegations of sexual misconduct, a letter seen by Reuters said on Sunday.
The company, which had $4.8 billion in assets under management as of September 2022, announced Saturday that Audi is leaving the company. He denies allegations of misconduct.
The letter said Freddie Neff would take full responsibility for Odey European Inc (OEI) and OEI Mac funds. James Hanbury will lead the LP Odey Opus Fund, and Oliver Kelton will lead the Odey Pan European Fund.
The letter said the Odey Swan fund would be taken over by Neave as interim leader before the board decided on a final fund manager.
The letter also said Odey Asset Management had a “constructive dialogue” over the weekend with the leading brokers, helping to facilitate trades.
Since the sexual misconduct allegations were published, three Wall Street firms who are Odey Asset Management’s flagship brokers – Goldman Sachs (NYSE:), JPMorgan (NYSE:) and Morgan Stanley (NYSE:) – Go to review or cut ties with the company.
The Financial Times reported on Sunday that EU funds managed by Odi Asset Management are discussing restrictions on investor withdrawals as part of emergency measures to contain the fallout from allegations against Crispin Odi.
The Financial Times report, citing people familiar with the discussions, added that the restrictions on investor withdrawals under consideration were due to concerns that the company could suffer large outflows in the next few days.
Odey Asset Management did not immediately respond to a Reuters request for comment on the FT report.
The Financial Times and Tortoise, in a joint publication on Thursday, reported allegations by 13 women that Oddy had sexually assaulted or harassed them over a 25-year period.
Oddy and Duncan Lamont, counsel at the law firm Charles Russell Speeches, which represents Oddy Asset Management (OAM), did not immediately respond Saturday to a Reuters request for comment on the hedge fund manager’s departure.