No public money invested with Crispin Odey firm

Thursday 31 August 2023

Jersey no longer invests public money with an asset management business founded by a Tory Party donor who is facing allegations of sexual misconduct, the island's Government has confirmed.

Crispin Odey was charged with indecent assault three years ago but was cleared after a trial at Westminster Magistrates’ Court.

However, in June, the Financial Times reported a fresh series of allegations which Mr Odey has since denied. Despite this, Morgan Stanley and JPMorgan Chase cancelled their relationship with his firm.  

Mr Odey has since been removed as a partner from Odey Wealth Management and several of its funds have been suspended.

Up until the latest allegations, the States of Guernsey used OWM as an investment portfolio manager. 

However, in a recent reply to a Freedom of Information request, the island’s Policy and Resources Committee said: “Following the recent media coverage, the investment that was being managed by Odey Wealth Management has since been redeemed and there is no longer a professional relationship with this organisation.”

Jersey previously had a relationship with the firm.

Following questions from Express in the wake of the recent revelations, the Government confirmed that it had not dealt with Odey Asset Management [another arm of the Odey Group] since 2017, when the investment manager was removed from the investment portfolio of the Public Employee Pension Fund.

Odey Wealth Management has an office in St. Peter Port.