Odey Asset Management (Odey), is closing down its subsidiary Brook Asset Management (Brook), in light of a company wide change, after sexual harassment allegations were made against founder Crispin Odey, according to a report by Financial News.

According to the report, creditors would be dissolving the subsidiary in the next two months unless any objections are made. This is the second subsidiary to close, following on from Odey Wealth, which is also shutting down.

Brook was hit hardest by outflows, accounting for the bulk £550m that exited in the first month after the accusations against Odey became public, according to the report.