Morgan Stanley’s decision on Thursday to cut ties with Crispin Odey’s Odey Asset Management follows a Financial Times investigation that documents how the hedge fund manager evaded sexual assault allegations for decades.
The bank has begun terminating its prime brokerage relationship with Odey, according to people familiar with the matter. Morgan Stanley and Odey Asset Management declined to comment.
The decision follows an investigation published by the Financial Times on Thursday that found Odey had sexually harassed or assaulted 13 women over the past 25 years. Eight women who took part in the investigation said they had been sexually assaulted by him. A law firm representing Odey said he “vigorously refuted” the allegations.
Prime brokers offer a range of services to their hedge fund clients, including stock lending, leverage and trade execution. They also connect hedge funds with potential investors such as pension funds, foundations and endowments.