Barclays is looking to end its corporate banking relationship with Odey Asset Management, people familiar with the situation told the Financial Times, which increases pressure on the hedge fund while struggling to maintain and float because of inappropriate sex conduct. contra su fundador del mismo nombre.
Una cadina de bancos presented avisos de rescisión en Odey property management para las principales relaciones de corretaje y custodia necesarias para administrar un fundo de cobertura después de que el Financial Times informara el mes pasta que 13 mujeres denunciaeron agresión agreso.
Dichos Avisos permaneseran en force a pesar de la habilitación de Audi dentro de los días siguientes a la publication de las alegaciones. The founder of the 64-year-old hedge fund was acquitted of a charge of indecent aggression and vigorously denies recent accusations of sexually inappropriate conduct.
Odey Asset Management, which supervised investments worth about 4,400 million dollars before the accusations came to light, announced last week that two of its high-profile managers were in talks with investors about their funds.
Three people familiar with the situation told the Financial Times that Barclays, the corporate bank of Odey Asset Management, has become the last to decide to end its relationship with the hedge fund, after JPMorgan, Goldman Sachs and Morgan Stanley. ya cortaron lazos. with 32 banks. empresa de años
Dos de las personas dijeron que el banco le había dicho a la Autoridad de Conducta Financiera que quería deshacerse de Oday Asset Management. Uno added that the process must be administered with care because Barclays administers processes like the name of Odey Asset Management, from which simply cannot escape.
Odey Asset Management refused to comment if the hedge fund had been notified of the intentions of Barclays and could continue to operate in the long term without a corporate banking partner. Barclays refused to comment on its relationship with the coverage fund.
Si bien Odey Asset Management les ha dicho a los clientes que está haciendo espuertos para vender algunos de los fondos debidu al efecto de “eventos recientes”, no ha dicho publicamente que está limando su negocio.
A person familiar with the regulatory situation told the Financial Times that the terminations of the hedge funds, which could take several months, could be activated without any change in their registration status. If the company is declared insolvent, this will trigger a formal process that includes the possible designation of a special administrator.
In addition to the loss of key banking partners and key fund managers, and the suspension of several funds, Odey Asset Management has been the subject of a two-year investigation by the FCA on corporate governance.
This investigation could continue even if Odey Asset Management is finalized, although any recourse from the FCA would be limited to publishing negative findings and imposing the blame on any person who has failed in their duties.
The FCA has had a precedent for presenting findings against persons who are no longer active in the financial services industry, including a 2014 prohibition against Jonathan Paul Burrows, who resigned as managing director of BlackRock Asset Management in lieu of payment. De tren.
The FCA has not commented or publicly confirmed the investigation on Odey Asset Management, but asked him to explain his dealings with the company in an audience of the Select Committee of the Treasury at the end of this month.
Harriet Baldwin, President of the TSC, told the FCA that they would like to know about the “nature and intensity” of their supervision of Odey Asset Management during the last five years, including the form in which the regulator has abordadoudal informaciada sobre Crispin Odey. . .
Information Addition de Jane Croft
