Sixteen months after being ousted over allegations of sexual misconduct, Crispin Odey has quietly rejoined what remains of the eponymous hedge fund firm he founded back in 1991, with nine other partners formally departing the business at the same time, according to a report by The Times.
The report cites recent filings with Companies House as revealing that the 65-year-old was reinstated as a partner at the firm last month alongside his holding company Odey Asset Management Group Limited.
Odey’s reinstatement marks an unexpected return to a firm that had been one of the UK’s most high-profile hedge funds before a wave of allegations led to its unravelling last year. Once celebrated for his contrarian bets, including a successful short against banking shares prior to the 2007-09 financial crisis, Odey became increasingly isolated as investors and City institutions severed ties with the firm amid the misconduct claims. Following the scandal, many of the firm’s fund managers moved to competitors, and the company’s remaining operations dwindled.
The misconduct accusations surfaced in a report by the Financial Times that detailed allegations from multiple women. Odey denied the claims, but the fallout led to investors withdrawing their funds and ultimately resulted in the firm losing its authorisation from the Financial Conduct Authority (FCA). While the FCA has been investigating whether Odey is “fit and proper” to work in the financial sector, it closed an inquiry into his firm last year.
