Pimco put on watch by another investment consultant following lawsuits

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Singapore News News

A second investment consultant has put PIMCO on watch, as the $2.2 trillion money manager faces growing scrutiny following allegations of sexism and harassment

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Listen! these days you're accused of sexism just for being a male 🙄

What is PIMCO?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CEO of Walk-On's restaurants discusses investment by NFL's Dak PrescottDallas Cowboy's quarterback Dak Prescott becomes the latest athlete to invest in Walk-On's Sports Bistreaux restaurants. CNBC's sports business reporter Jabari Young talks with founder and CEO Brandon Landry. Landry details what made Prescott the best fit for the company and the expected growth in 2021. JabariJYoung good luck JabariJYoung JabariJYoung It's boring to sit at home alone, looking for someone to spend time with
Source: CNBC - 🏆 12. / 72 Read more »

UnitedMasters Announces $50 Million Series B Investment Led by AppleUnitedMasters, a music distribution platform for independent artists founded by industry veteran Steve Stoute, announced a $50 million Series B investment led by Apple with follow-on investments fr…
Source: Variety - 🏆 108. / 63 Read more »