By Nell Mackenzie and Kirstin Ridley LONDON (Reuters) - Wall Street firms are poised to reassess how they vet hedge funds, industry sources and expert.
Wall Street firms are poised
to reassess how they vet hedge funds, industry sources and
experts say, following a race to cut ties with Odey Asset
Management after founder Crispin Odey was accused of. | June 15, 2023
Odey Scandal Prompts Wall Street Rethink on How to Vet Hedge Funds usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
LONDON (Reuters) -Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press. The Financial Times and Tortoise Media, in a joint publication on June 8, reported allegations by 13 women that Odey - one of Britain's best-known hedge fund managers - had sexually assaulted or harassed them over a 25-year period. Within hours of that report being published, Wall Street firms including Goldman Sachs, JPMorgan and Morgan Stanley began reviewing prime broking ties with Odey Asset Management (OAM), which they then went on to cut.