Fidelity Holds Meeting on Zero-Tolerance Policies After Harassment Allegations

  • Meeting comes in wake of another portfolio manager leaving
  • Boston-based company says its policies prohibit harassment

The departure of another Fidelity Investments portfolio manager accused of bad workplace behavior prompted an emergency staff meeting last week.

Brian Hogan, head of the Boston-based firm’s equity group, held the discussion Oct. 16 with employees to stress the firm’s zero-tolerance policy for inappropriate workplace conduct, including sexual harassment, according to a person familiar with the matter.

C. Robert Chow, who worked in Fidelity’s allocation group, left the company this month amid allegations of inappropriate sexual comments, said the person who asked not to be named because the information is private. Chow couldn’t immediately be reached for comment by Bloomberg News. A lawyer for him declined to comment to the Wall Street Journal, which reported the meeting earlier today.

Last month, Fidelity portfolio manager Gavin Baker was dismissed amid allegations that he sexually harassed a junior female employee, a person familiar with the matter said. The female employee is on leave, the Wall Street Journal reported earlier this month, citing an attorney for her and people familiar with the matter, none of whom were identified.

Baker managed the $16.4 billion Fidelity OTC Portfolio for eight years and didn’t return a request for comment from Bloomberg News. A spokesman for Baker told the Journal that the money manager “strenuously” denies the allegations and that Baker left the firm amicably.

Fidelity’s policies specifically prohibit harassment in any form and that the company provides its employees with training and multiple communication channels to raise concerns, including a way to anonymously report potentially unethical or inappropriate activities, spokesman Vincent Loporchio said today.  

"When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and appropriate action," Loporchio said in an email. "We simply will not, and do not, tolerate this type of behavior."

"Fidelity remains committed to providing all associates with an outstanding work environment and we will always work hard to ensure that we take swift and appropriate action when an individual violates our policies, and more importantly, our values," he said.

Read more about the allegations here

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