• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Leadership

Fidelity Chairman Deals With Fallout From Sexual Harassment Claims

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
October 23, 2017, 12:27 AM ET
Add Fortune on Google for similar content.

Less than a year into her tenure as chairman of Fidelity Investments, Abigail Johnson faces a crisis amid allegations that the mutual fund giant has a men’s club mentality.

Johnson is addressing inappropriate workplace conduct such as sexual harassment by hiring a consulting firm to review employee behavior stretching back years, the Wall Street Journal reported on Sunday.

“Fidelity’s policies specifically prohibit harassment in any form,” the company said in a statement on Sunday. “When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and appropriate action.”

Fidelity would not confirm the review by consultants.

In the past month, Johnson collared the attention of Fidelity‘s stock funds team when she signed off on the dismissal of star portfolio manager Gavin Baker, who had been accused of sexual harassment, according to a person familiar with the situation. The Wall Street Journal was the first to report the circumstances surrounding Baker’s departure on Oct. 13. Through a spokeswoman at public relations firm Goldin Solutions, Baker has denied allegations of sexual harassment.

Brian Hogan, president of Fidelity‘s stock funds division, held an emergency meeting on Oct. 16 to ensure everyone is aware of the company’s zero-tolerance policy for inappropriate conduct, according to a source familiar with the meeting. He also reiterated that employees have various ways, such as calling the chairman‘s hotline, to report any concerns anonymously.

He called the meeting partly to address concerns raised in connection with the ouster of Baker, who ran the $16 billion OTC (over the counter) Portfolio. He had one of the hottest hands in the mutual fund industry, generating a 3-year annualized return of 19.03%, or better than 99% of his large-cap growth fund peers, according to Morningstar.

For more on sexual harassment, watch Fortune’s video:

The Wall Street Journal was the first to report Hogan’s meeting in a Sunday story that also said Fidelity had dismissed Robert Chow, who had been with the money manager for nearly 30 years.

A person familiar with the situation confirmed the report that Chow had been forced out after being accused of making inappropriate sexual comments. Chow, who was known as a value investor earlier in his career, had most recently worked as a senior investment manager for private portfolios. He did not return messages seeking comment.

Fidelity‘s handling of the claims coincides with a deluge of sexual harassment complaints against powerful executives in the entertainment industry that 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. Last month, she said Fidelity had a shortage of women to give financial advice to female clients at its investment branches.

“We have a real need in our business to recruit more women,” Johnson said in a September interview on Bloomberg TV. “…We don’t have enough women who are customer facing reps to serve all the women customers who come in and ask for women.”

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Leadership

A loneliness epidemic is creating a new type of third space: the one built around curiosity
SuccessSocial Media
A loneliness epidemic is creating a new type of third space: the one built around curiosity
By Tatiana SatauaAugust 1, 2026
25 minutes ago
Jensen Huang
SuccessCareers
Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers
By Preston ForeAugust 1, 2026
30 minutes ago
Inside Miami’s ‘Billionaire Bunker,’ a man-made island for the .01% where billionaires like Jeff Bezos and Mark Zuckerberg shell out for total privacy
Real EstateBillionaires
Inside Miami’s ‘Billionaire Bunker,’ a man-made island for the .01% where billionaires like Jeff Bezos and Mark Zuckerberg shell out for total privacy
By Marco Quiroz-GutierrezAugust 1, 2026
33 minutes ago
Despite China’s 996 culture, DeepSeek founder Liang Wenfeng says his workers don’t do overtime or even have KPIs: ‘No one manages them’
Successwork-life balance
Despite China’s 996 culture, DeepSeek founder Liang Wenfeng says his workers don’t do overtime or even have KPIs: ‘No one manages them’
By Orianna Rosa RoyleAugust 1, 2026
4 hours ago
Golfer in white hat
Big TechAmazon
Amazon’s Andy Jassy sees a $1 trillion cloud built on businesses like the PGA Tour—which swapped its server trucks for AI broadcasts 
By Amanda GerutAugust 1, 2026
5 hours ago
Photo of two Harvard football teammates at the Harvard v. Yale game
SuccessSports
Wall Street’s hidden recruiting pipeline isn’t an Ivy League diploma—it’s the teammate who triples your odds of getting hired
By Mia OsmonbekovAugust 1, 2026
6 hours ago

Most Popular

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
1 day ago
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
Personal Finance
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
By Nick LichtenbergJuly 31, 2026
1 day ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
2 days ago
'Retiring backwards': How cold economic reality forced Gen X into something like the reverse of baby boomers' golden years
Success
'Retiring backwards': How cold economic reality forced Gen X into something like the reverse of baby boomers' golden years
By Nick LichtenbergJuly 31, 2026
22 hours ago
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
3 days ago
Current price of oil as of July 31, 2026
Personal Finance
Current price of oil as of July 31, 2026
By Joseph HostetlerJuly 31, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.