UBS cutting ties with Odey Asset Management, FT reports

UBS (UBS) is ending its relationship with Odey Asset Management in the wake of sexual misconduct allegations against its founder Crispin Odey, The Financial Times’ Owen Walker and Laura Noonan report. UBS has begun the process of offboarding the hedge fund manager, according to people familiar with the moves, with one person saying the relationship had been “inactive for a number of years.” Morgan Stanley (MS) and Goldman Sachs (GS) began to cut ties with the firm last week, while JPMorgan (JPM) served notice on the business this week, according to the report.