Consultant Meketa has placed Pimco on watch over discrimination allegations, following a similar move by pension adviser NEPC.Meketa recently enhanced its money manager rating process to more closely evaluate pay equity.A second investment consultant for pension funds and other institutional investors has flagged $2.2 trillion money manager Pimco for enhanced scrutiny after multiple current and former employees alleged that they faced discrimination and harassment at the firm.
While that investment represents a tiny fraction of PIMCO's assets, NEPC and Meketa's watch recommendations are notable, because concerns raised by prominent consulting firms can impact actions taken by other pension funds, endowments, and foundations that have billions invested with the money manager.
"Pimco vigorously denies that it discriminated, harassed, or retaliated against plaintiffs in any matter, allowed a pay disparity that gives rise to equal pay violations, defrauded or made any misrepresentations to plaintiffs, violated plaintiffs' privacy, or violated obligations to take reasonable steps to prevent or correct any type of retaliation, harassment, or discrimination," the firm said in the filing.
Listen! these days you're accused of sexism just for being a male 🙄
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