Crispin Odey
Encyclopedia
Crispin Odey is a London
hedge fund manager as owner of Odey Asset Management. In 2008 he gave himself a £28,000,000 paypacket after predicting the credit crunch
would happen and subsequently betting that Bear Stearns
would go bankrupt.
Odey set up on his own in 1991 after quitting Barings Bank
. He made huge losses in 1994 when the Federal Reserve unexpectedly lifted interest rates, but went on to thrive.
He was selected as a "Business Big Shot" by The Times
in 2008.
He caused controversy in The Times
in May 2009 after saying he would leave the country to avoid paying 50% tax.
He was at the centre of further controversy when it emerged that he financially backed anti-EU campaigners in a referendum in Ireland
while some hedge funds had taken out specific bets on the insolvency of the country in the event of the vote not been carried. The Treaty passed by a margin of 67.1% to 32.9%.
In May 2010, Odey Asset Management formed a new investment management firm with Geneva
’s Bruellan Wealth Management called Odey Bruellan.
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
hedge fund manager as owner of Odey Asset Management. In 2008 he gave himself a £28,000,000 paypacket after predicting the credit crunch
Credit crunch
A credit crunch is a reduction in the general availability of loans or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates...
would happen and subsequently betting that Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
would go bankrupt.
Odey set up on his own in 1991 after quitting Barings Bank
Barings Bank
Barings Bank was the oldest merchant bank in London until its collapse in 1995 after one of the bank's employees, Nick Leeson, lost £827 million due to speculative investing, primarily in futures contracts, at the bank's Singapore office.-History:-1762–1890:Barings Bank was founded in 1762 as the...
. He made huge losses in 1994 when the Federal Reserve unexpectedly lifted interest rates, but went on to thrive.
He was selected as a "Business Big Shot" by The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
in 2008.
He caused controversy in The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
in May 2009 after saying he would leave the country to avoid paying 50% tax.
He was at the centre of further controversy when it emerged that he financially backed anti-EU campaigners in a referendum in Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
while some hedge funds had taken out specific bets on the insolvency of the country in the event of the vote not been carried. The Treaty passed by a margin of 67.1% to 32.9%.
In May 2010, Odey Asset Management formed a new investment management firm with Geneva
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
’s Bruellan Wealth Management called Odey Bruellan.