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Odey Asset Management in advanced talks to transfer funds and staff to rivals - letter

2023-06-15 15:49
LONDON Odey Asset Management is "in advanced discussions" to rehouse funds and transfer staff to other asset managers,
Odey Asset Management in advanced talks to transfer funds and staff to rivals - letter

LONDON Odey Asset Management is "in advanced discussions" to rehouse funds and transfer staff to other asset managers, it told investors in a letter on Thursday, after imposing exit curbs on key funds in the wake of fresh misconduct allegations against its founder.

News of the talks comes in a week of upheaval for the firm after the Financial Times and Tortoise Media reported a raft of fresh allegations aganst Cripsin Odey, which triggered several major global banks who provided prime brokerage services to review their relationships with the firm.

Odey has denied the allegations. A spokesperson for the firm declined further comment.

(Reporting by Nell Mackenzie, editing by Sinead Cruise)