>> Claims of sexual harassment roiling the financial world this week. The Wall Street Journal reporting that Fidelity Investments is reviewing employee behavior amid allegations of sexual harassment stretching back years. Fidelity Investment's Chair, Abigail Johnson, who is less than a year into her tenure, now facing claims that the mutual fund business she runs has a men's club mentality, and is addressing appropriate workplace conduct by hiring a consulting firm.
According to a person familiar with the matter, Johnson recently got the attention of Fidelity's stock funds team when she signed off on the dismissal of a star portfolio manager who had been accused of sexual harassment. The Journal said Fidelity had also dismissed a senior investment manager. A person familiar with the situation confirmed that the senior investment manager had been forced out after being accused of making inappropriate sexual comments.
Fidelity's handling of the claims coincides with the deluge of sexual harassment complaints against powerful executives in the entertainment industry, which has opened a fierce debate about workplace abuse of women in the wider world. Johnson recently said she is on a mission to hire more women at Fidelity, saying last month that the money manager had a shortage of women to give financial advice to female clients.