July 2 (Reuters) - Barclays (BARC.L) is looking to terminate its corporate banking relationship with Odey Asset Management (OAM), the Financial Times reported on Sunday, predominantly due to sexual assault allegations against founder Crispin Odey.
The British hedge fund has grappled with redemptions since the FT and Tortoise Media on June 8 jointly reported allegations by 13 women that Crispin Odey had sexually assaulted or harassed them over a 25-year period.
OAM and Barclays did not immediately respond to a Reuters request for comment outside usual office hours.
FT also reported earlier that the FCA had restricted the movement of cash and assets from OAM to restore order at the firm.
Letters to OAM investors last week showed the manager has proposed to restructure two of its key funds as part of efforts to extract Crispin Odey from the business after the assault allegations.
Persons:
Crispin Odey, Odey, AJ Bell, Hargreaves Lansdown, Goldman Sachs, Morgan Stanley, Rishabh, Kevin Liffey, David Holmes
Organizations:
Barclays, Odey Asset Management, Financial Times, redemptions, Tortoise Media, Sunday Barclays, Financial, Authority, FT, JPMorgan, Thomson
Locations:
British, Canada, Halifax, Bengaluru