Odey Asset Management has promoted from within to fill the gap left by Ralph Beckett, who left the firm in June after running its trading department for many years.

The company, founded by billionaire investor Crispin Odey, has elevated Sebastien Letellier as its new head of trading. The French equities and derivatives specialist has been a trader at Odey Asset Management since 2013, and has served stints at Goldman Sachs, BNP Paribas and Northwood Capital.