Investor pressure is mounting on Crispin Odey after two more influential financial institutions cut ties with his hedge fund following multiple allegations of sexual misconduct by him against junior female members of staff. The money managers Schroders and Canada Life said on Friday that they were cutting ties with Odey Asset Management (OAM) after 13 women accused the multimillionaire Conservative donor of abuse or harassment over decades, in a detailed investigation by the Financial Times and Tortoise Media. Odey denies the allegations. Canada Life, an asset manager that oversees about £40bn of clients’ money in the UK, said it had suspended its relationship with Odey Wealth Management, which is part of OAM. “We’ve made a very quick and clear decision,” a spokesperson said. “It shows the seriousness with which we see the situation.” Schroders, which manages more than £700bn of investments including for many of the UK’s biggest pension funds, sold all of its remaining holdings with OAM over the past two days following publication of the allegations. “Schroders is not invested in Odey Asset Management,” a spokesperson said. The decisive action of the two money managers comes after three of the world’s largest investment banks – JP Morgan, Morgan Stanley and Goldman Sachs – announced they were cutting, suspending or reviewing their relationships with Odey’s fund. A spokesperson for OAM declined to comment on the mounting action taken by some of the biggest names in the City of London. Its chief executive, Peter Martin, had earlier attempted to reassure investors and partners that it was taking the allegations “extremely seriously” and said the fund had tasked its own lawyers with investigating them. Senior executives at OAM have been accused of knowing about some of the sexual misconduct allegations for up to 16 years before the firm launched a formal investigation into Odey’s conduct. Martin said in his statement on Friday: “OAM treats, now and in the past, all such allegations extremely seriously. “OAM has robust policies and procedures in place to ensure that the firm at all times complies with all of its legal and regulatory obligations. Staff wellbeing is also central to the culture of OAM’s business. We do not recognise the picture of the firm that has been painted by the Financial Times.” Martin had said the fund was in “active discussions” with all its partners and was “confident that our service providers will continue to work with us to ensure that the interests of investors are protected”. The UK’s Financial Conduct Authority regulator is understood to be widening an existing investigation into allegations of misconduct at OAM to include the fresh allegations against Odey. OAM did not comment on the FCA’s investigation. Odey has confirmed he had been previously “cross-examined” by the FCA over allegations in an investigation he claimed had been closed. The watchdog said it was unable to comment, but sources close to the regulator said the scope of an investigation changes depending on the evidence. Odey made political donations of more than £1.7m between 2007 and 2019, according to Electoral Commission filings. He and his hedge fund donated £1.3m to groups campaigning for Brexit at about the time of the EU referendum. He has given about £350,000 to the Conservatives, and £10,000 directly to former prime minister Boris Johnson.