Legal
Fidelity Investments Weighs Zero-Tolerance Policy Amid Harassment Claims

The investments group in the US has met to discuss workplace conduct after two employees left amid harassment claims.
Fidelity
Investments is reportedly cracking down on workplace
misconduct, imposing a so-called "zero tolerance"
regime, after a high-profile employee at the fund firm was
ousted because of sexual harassment and bullying allegations, the
Wall Street Journal and other news outlets have
reported. Another portfolio manager has been fired because of
sexual misconduct claims.
Family Wealth Report has contacted Fidelity Investments
for comment; it hadn’t received a response at the time of going
to press and may update in due course.
The WSJ said Fidelity Investments pushed long-standing
employee C Robert Chow, 56, to resign earlier in October month,
amid allegations that he made inappropriate sexual comments to
colleagues. The WSJ cited unnamed sources.
The news organizatation, also quoting unnamed sources, said a
lawyer for Chow declined to comment. Separately, the
WSJ and other media outlets reported that the
investment firm has hired a consulting firm to review employee
behavior, including within the stock-picking or equity
division.
Brian Hogan, president of Fidelity’s stock-picking division, held
an emergency meeting on Monday last week with his staff to stress
the firm’s “zero tolerance policy” for inappropriate workplace
conduct, including sexual harassment.
Chow was a former portfolio manager who worked most recently in
an advisory unit at Fidelity.
The WSJ quoted a Fidelity Investments spokesperson as
saying that company 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. We simply will not, and do not, tolerate this
type of behavior.”
In another case in October, Gavin Baker, 41, a manager of
technology firms, was fired for allegedly sexually harassing a
junior employee. A spokesperson for Baker has reportedly said the
man “strenuously” denies any “supposed” allegations of sexual
harassment (source: WSJ).
The issue of workplace misconduct such as sexual harassment has
hit the headlines in recent days amid claims that Hollywood
producer Harvey Weinstein was a sexual predator, abusing his
power in the film industry. A number of high-profile figures such
as actresses Gwyneth Paltrow and Angelina Jolie have complained
about his behavior, prompting renewed concerns about the ability
of powerful people in such industries to abuse their position.
Weinstein has denied accusations against him.