LONDON, June 8 (Reuters) – Morgan Stanley plans to cut back its prime broking relationship with Odey Asset Management following allegations of sexual misconduct and bullying by Crispin Odey reported by the Financial Times and Tortoise Media on Thursday, said a source familiar with the matter.

The FT reported that 13 women alleged Odey had sexually assaulted or harassed them over a 25-year period.

“This is a rehash of an old article and none of the allegations have been stood up in a courtroom or an investigation,” Crispin Odey told Reuters by phone.

Referring to Morgan Stanley’s plans to cut back its prime broking relationship with Odey Asset Management, he said: “That is a massively quick reaction to an allegation by the FT.”

The FT was also the first to report news of Morgan Stanley’s decision.

Prime brokers lend hedge funds the money they need in order to facilitate investments.

The source said the allegations of misconduct at Odey Asset Management conflicted with the bank’s standards. Morgan Stanley declined to comment.

Reporting by Nell Mackenzie; Editing by Elisa Martinuzzi, Dhara Ranasinghe and Catherine Evans

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