Barclays to sever ties with Odey Asset Management - reports

Barclays is looking to terminate its corporate banking relationship with Odey Asset Management, following sexual misconduct allegations against founder Crispin Odey, according to reports.

People familiar with the matter told the Financial Times that Barclays has contacted the Financial Conduct Authority about terminating its relationship with the asset management firm.

They explained the process would have to be carefully managed, as Barclays is responsible for Odey AM's payroll, a function the bank is unable to end immediately.

Barclays' decision would follow the ones taken by JP Morgan, Goldman Sachs and Charles Stanley, all of which decided to end their relationships with Odey AM after an FT investigation last month revealed 13 women who accused Odey of sexual assault.