BlackRock Settles Discrimination Lawsuit With Former Employee

Bookmark

BlackRock Inc. said it settled a discrimination lawsuit with a former employee, at a time when the world’s largest asset manager has been publicly challenged about its commitment to equity and inclusion.

The firm, which oversees about $9 trillion, and the ex-employee, Brittanie McGee, agreed to resolve the suit, according to a court filing Thursday. McGee, who is Black, claimed she was discriminated against because of her race and passed over for promotions in the firm’s U.S. wealth advisory group. No terms were disclosed.

The claims were “dismissed with prejudice and without costs, expenses or attorneys’ fees being awarded to any party,” according to the filing.

“BlackRock continues to actively pursue a multi-year strategy to drive diversity, equity and inclusion in every aspect of our business and to create an environment where everyone is heard and respected,” Dominic McMullan, a spokesman for the New York-based firm, said in an emailed statement.

The suit alleged that McGee, as an employee at BlackRock from 2014 to 2020, faced hurdles to professional advancement while White male co-workers got more desirable assignments. She alleged that her attempts to resolve the problem were met with “hostility or indifference.”

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.