After Morgan Stanley And JPMorgan, Barclays Is Also Looking To Break Up With Odey Asset Management: Report

Barclays PLC BCS is thinking of terminating its corporate banking relationship with Odey Asset Management following sexual misconduct allegations against the hedge fund founder.

Several banks slashed the company with termination notices with the company for the prime broking and custody relationships, the Financial Times reported.  

Last month, Crispin Odey's was accused of allegedly mistreating 13 women, Financial Times reported citing people familiar with the situation.

JPMorgan Chase & Co JPM and Morgan Stanley MS reviewed ties with Odey Asset Management amid sexual assault allegations.

As per the report, FCA didn't publicly comment or confirm the investigation into Odey Asset Management but has been told to explain its dealings with the firm at a hearing by the Treasury select committee later this month. 

Also Read: Barclays Shares Up On Solid Q1 Results, Strong Growth Across Businesses

Price Action: BCS shares are trading higher by 0.89% at $7.93 on the last check Monday.