(Bloomberg) -- Morgan Stanley plans to cut ties with Crispin Odey’s investment firm following fresh allegations of sexual assault against women over several decades.
The bank has started terminating its prime brokerage relationship with Odey Asset Management, according to a person familiar the matter, who asked not to be identified because it’s private.
JPMorgan Chase & Co. is also reviewing its relationship with Odey Asset Management in light of the allegations, a separate person familiar with the matter said.
Representatives for Odey Asset Management, Morgan Stanley and JPMorgan declined to comment
The Financial Times, which reported Morgan Stanley’s decision earlier, published an investigation Thursday into Odey’s treatment of women over a 25-year period that included multiple allegations of sexual harassment or assault. A law firm representing Odey said he “strenuously disputed” the allegations, according to the newspaper report.
Prime brokers offer a range of services to their hedge fund clients, including leverage and trade execution.
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