Fidelity Investments on Tuesday said it was reviewing its relationship with mone...
BOSTON - Fidelity Investments on Tuesday said it was reviewing its relationship with money manager Ken Fisher while Philadelphia’s board of pensions terminated its business with his firm after he allegedly made disparaging remarks about women last week.
Fisher’s setbacks come in the wake of the #MeToo movement, which has exposed widespread sexual harassment or abuse of women in multiple spheres of American life and ended the careers of dozens of powerful men in media, politics, entertainment and business. “We are very concerned about the highly inappropriate comments by Kenneth Fisher. The views he expressed do not align in any way with our company’s values,” Fidelity spokesman Vincent Loporchio said. “We do not tolerate these types of comments at our company.”
In a separate employee memo, Fisher Investments Chief Executive Damian Ornani wrote that “Ken’s comments were wrong,” and said the firm is launching a task force to address diversity and inclusion at the firm itself. He said Fisher had made derogatory comments about genitalia, picking up girls and financier Jeffrey Epstein, among other topics. Epstein committed suicide in August while being held in jail awaiting trial on sex trafficking charges.
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