Crispin Odey is stepping back from his role as co-chief executive at Odey Asset Management as the firm changes its name and rebrands its fund range.
The firm said in a statement on Tuesday that, after three decades in charge, Odey will relinquish co-chief executive duties in the coming weeks to focus entirely on managing his funds.
The move leaves Timothy Pearey solely at the helm.
At the same time the investment boutique is to be renamed Brook Asset Management, subject to FCA approval, and the fund range will rebrand under this new moniker.
‘Appropriate time’
Odey said: “I have always had a dedicated, professional team to manage the business, and this feels the appropriate time to relinquish sharing that responsibility in favour of focusing on investment and nurturing investment talent.
“I founded OAM in 1991 as the antithesis to committee-based investment management. I have always believed that investment talent should be organised like barristers’ chambers, where different principals can work together fruitfully, sharing ideas and resources, while operating independently.”
Pearey said: “We have been planning for the next phase of OAM’s development for some time, while always mindful of fostering and maintaining the investment led and performance driven culture, that has driven its success these past three decades.”
Comes after indecent assault charge
In July, Odey, who is married to Jupiter chairwoman Nichola Pease, was charged by the Crown Prosecution Service over an alleged indecent assault.
He stands accused of allegedly groping the complainant, a female banker in her 20s, at his home in Chelsea in July 1998, following a work meeting.
In September, Odey pleaded not guilty to the charge and the case was adjourned for a two-day trial on 17 and 18 February at Hendon Magistrates Court.
In August, the Sunday Times reported that Odey Asset Management was hatching a contingency plan ahead of the assault trial, including the closure of his flagship European fund, which would be set into motion if he is convicted of indecent assault.
Odey to launch inflation-focused fund
Odey Asset Management also announced Odey is launching a fund as part of the Brook range which is focused on managing capital preservation in the threat of higher inflation.
Odey said: “I am very excited about my new inflation focused fund, as so few people in the market are thinking this way. This provides great opportunity for investment, which now more than ever demands one’s full attention.
“The markets will continue to be very testing over the next few months as inflationary factors start to make themselves known.”
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