Crispin Odey
Robin Crispin William Odey (born January 1959) is a British hedge fund manager and founder of Odey Asset Management. According to Bloomberg in November 2017, he is "known for his bearish outlook" on the markets. In June 2023, the Financial Times published an investigative report on Odey which alleged that he had sexually harassed or assaulted 13 women over the course of 25 years. Odey Asset Management announced shortly afterwards that Odey would be leaving the firm. Investors soon started pulling their money from the firm following the report, prompting it to suspend withdrawals. In late June 2023 the company suspended flagship hedge funds, and it was speculated that it might break up. Early life and education Odey was born in the East Riding of Yorkshire, the only son of (George) Richard Odey. His father was from a family of Yorkshire industrialists, and his grandfather George Odey, "a formidable bully", had been the Conservative MP for Beverley. His mother's maiden name was Clitherow. In 1980, his sister Caroline married the Hon. Henry David Montgomery, the son of David Montgomery, 2nd Viscount Montgomery of Alamein and heir apparent to the viscountcy. They have three children. He was educated at Harrow School, where his father had been head boy, and graduated from Christ Church, Oxford in 1980 with a degree in history and economics. Soon after graduation, he found out that his father had huge debts, and the trustees of Hotham Hall, a 4,000-acre estate that had been in his mother's family since 1720, transferred it to him absolutely. Aged 23, he sold everything. According to Odey, his father was a "wastrel from beginning to end", and survived on handouts from his son. Career Early funds After university Odey qualified as a barrister but instead of taking up a legal career, he joined Framlington fund managers, and then left to work for Barings International, where he managed the Baring European Growth Trust. He ran continental European pension funds at Framlington and Barings. 1991–2015: Odey Asset Management founding Odey founded Odey Asset Management in 1991. George Soros was one of the original investors, seeding Odey $150 million. Odey suffered large losses in 1994 when the Federal Reserve unexpectedly lifted interest rates (one of his funds lost 44 per cent of its value), but went on to thrive, for instance by foreseeing that the value of insurers would rise after the September 11 attacks on New York in 2001. Through the early part of the 2000s, Odey worked closely with Hugh Hendry, whom he had recruited and who ran Odey's top performing Continental Europe Fund. Hendry left in 2005 to establish Eclectica Asset Management. In reference to Hendry, Odey himself said: "Odey in the 1990s was a one-man band; Odey in the 2000s was a two-man band". According to The New York Times, Odey "came to prominence during the 2008 financial crisis when he shorted banking shares, a lucrative wager that helped him to earn almost 28 million pounds that year". That year his