Two fund managers have left Fidelity following allegations
Global asset management firm Fidelity has been rocked by a sexual harassment scandal which has seen two fund managers leave.
The firm’s stockpicking division held an emergency meeting Friday to reiterate its policy on sexual harassment and other forms of discrimination – zero tolerance.
The Wall Street Journal says that two fund managers have left Fidelity in the past month following complaints. One told the paper that they had left “amicably” after denying the allegations; the other’s lawyer declined to comment.
A source told the WSJ that Fidelity has hired a consultancy firm to carry out an assessment of the workplace culture at the asset management firm and make it easier for staff to make complaints about sexual harassment or discrimination. This has not been confirmed by the company.
A company statement to Reuters said: “Fidelity’s policies specifically prohibit harassment in any form. When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and
appropriate action.”
The story comes at a bad time for the firm’s president and CEO Abigail Johnson, granddaughter of its founder. She recently pledged to bring more women into the business.
“We have a real need in our business to recruit more women. We don’t have enough women who are customer facing reps to serve all the women customers who come in and ask for women,” she told Bloomberg.
The firm’s stockpicking division held an emergency meeting Friday to reiterate its policy on sexual harassment and other forms of discrimination – zero tolerance.
The Wall Street Journal says that two fund managers have left Fidelity in the past month following complaints. One told the paper that they had left “amicably” after denying the allegations; the other’s lawyer declined to comment.
A source told the WSJ that Fidelity has hired a consultancy firm to carry out an assessment of the workplace culture at the asset management firm and make it easier for staff to make complaints about sexual harassment or discrimination. This has not been confirmed by the company.
A company statement to Reuters said: “Fidelity’s policies specifically prohibit harassment in any form. When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and
appropriate action.”
The story comes at a bad time for the firm’s president and CEO Abigail Johnson, granddaughter of its founder. She recently pledged to bring more women into the business.
“We have a real need in our business to recruit more women. We don’t have enough women who are customer facing reps to serve all the women customers who come in and ask for women,” she told Bloomberg.
