Odey CEO Steps Down

Dec 18 2012 | 11:04am ET

Odey Asset Management CEO David Stewart is stepping down from day-to-day management of the US$7 billion hedge fund.

Stewart said he would become a non-executive director of the firm, seven years after joining it from Fidelity Investments. He told Financial News that he plans to work on a new company he's founded to help British companies set up shop abroad, and that it was time for younger people to take the helm at Crispin Odey's firm.

"I've done over seven years as chief executive and I took the view with Crispin that we ought to let the younger generation have a go," he said. "I will stay on as non-executive director to mentor them."

Stewart's roles will be split three ways. Chairman David Fletcher will take on research, while the "younger generation"—James Hansbury and Orlando Montagu—will take on compliance and operations, and business development, respectively. The three will also serve on Odey's executive committee.

Stewart said he would be in Odey's offices four days a week, primarily to work on his new firm, International Market Management. The venture, which features veterans of Jardine Matheson and Swire Group, seeks to help U.K. companies expand abroad, with a focus on emerging markets.

"This is a time that the U.K. needs to do more exporting," he explained to FN.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...