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BlackRock Revamps Bias, Harassment Policies After Review

  • Fink details new ways to address discrimination issues in memo
  • Former employees alleged misconduct earlier this year
Photographer: Jeenah Moon/Bloomberg
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BlackRock Inc. said that it will change the way it handles employee complaints about issues like sexual harassment and racial discrimination, after enlisting a law firm to investigate its practices.

The world’s largest asset manager faced a reckoning this year, after a former employee opened a racial discrimination lawsuit, one of its most senior executives apologized for previous off-color remarks, and another ex-employee published a Medium post alleging she was mistreated for her Muslim faith. Chief Executive Officer Larry Fink told employees Thursday that after a broad review by Paul, Weiss, Rifkind, Wharton & Garrison, the firm will create new channels for employees to bring up discrimination issues, and will give employees more information on how the investigations are conducted.