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Morgan Stanley severs ties with Crispin Odey amid sexual assault allegations

Odey Asset Management said that the executive committee of the firm is 'independent of Crispin Odey' and that it is treating all allegations 'extremely seriously'

Crispin Odey 64, was accused of lunging at a 24-year-old female bank employee in 1998

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Morgan Stanley has become the first major bank to cut ties with hedge fund millionaire Crispin Odey amid multiple sexual assault allegations.

The bank has already started the process of terminating its relationship with Crispin Odey's multi-billion dollar hedge fund, Odey Asset Management, a source familiar with the matter told Financial News.