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Abigail Johnson
Abigail Johnson

Fidelity Is Said to Step Up Anti-Harassment Push After Ousters

CEO Abby Johnson has moved her moved her office to the 11th floor of Fidelity’s headquarters, where many of the money managers and other key employees work.

By Charles Stein

(Bloomberg) --Fidelity Investments, the fund company that dismissed two portfolio managers in recent months over incidents of inappropriate sexual behavior, has taken steps to show it is dealing with the problem.

The Boston-based company created a sexual-harassment response committee that includes Fidelity executives as well as a representative from an outside law firm, conducted a cultural survey with investment professionals and required that all its employees undergo new training, according to a person familiar with the policy changes. The Boston Globe reported the developments earlier Thursday.

Chief Executive Officer Abby Johnson addressed employees Thursday about the results of the survey, which was done by law firm Morgan Lewis & Bockius LLP. Johnson has also moved her office to the 11th floor of Fidelity’s headquarters, where many of the money managers and other key employees work, said the person, who asked to not be named because the information is private.

“As Abby stated last month she and the senior management team consider this to be a top priority and have made it clear that we do not tolerate any form of harassment at Fidelity,” spokesman Vincent Loporchio said in an emailed statement.

Portfolio manager Gavin Baker was dismissed in September amid allegations that he sexually harassed a junior female employee, a person familiar with the matter said last month. C. Robert Chow, who worked in Fidelity’s allocation group, left the company in October amid allegations of inappropriate remarks.

Baker and Chow couldn’t be reached for comment. A spokesman for Baker previously told the Wall Street Journal that the money manager “strenuously” denies the allegations. A lawyer for Chow declined to comment to the Journal.

Johnson, in a speech last month in Washington, said she wants to create a workplace that is free of sexual harassment.

“I won’t tolerate it and neither should anyone else,” she said.

 
To contact the reporter on this story: Charles Stein in Boston at [email protected] To contact the editors responsible for this story: Margaret Collins at [email protected] Josh Friedman, Dan Reichl

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