Odey Asset Management was thrown into turmoil after allegations of sexual misconduct against its founder

The wealth management arm of Crispin Odey’s investment group will be wound down months after the hedge fund tycoon was accused of sexual misconduct by junior female members of staff.

The City regulator, the Financial Conduct Authority (FCA) said it was working closely with the firm, as it prepares to shut its operations in the UK and Guernsey. It is expected to return any remaining money to investors.