Pimco Says It Addressed Sex Discrimination Alleged by Women

Pacific Investment Management Co., the bond firm with $2.2 trillion under management, said it has addressed sex discrimination, harassment and retaliation allegations by a group of current and former female employees who wrote a letter complaining of inequality.

“Pimco promptly investigates and responds appropriately to allegations of misconduct,” the company said Friday in a statement. “As soon as these claims were brought to our attention, Pimco engaged a highly experienced, third-party expert to conduct an independent review of these matters.”

The letter, reported earlier by the Wall Street Journal, demanded leaders including Pimco Chief Executive Officer Emmanuel Roman and Chief Investment Officer Dan Ivascyn identify and fix disparities in pay and promotions, develop a five-year plan to diversify senior ranks and set up a complaint hot line run by an independent party. It was signed by 21 current and former female employees, including some who have filed discrimination lawsuits against Pimco, according to the newspaper.

Roman and Ivascyn addressed the issue in a memo Friday to employees of the Newport Beach, California-based firm.

“We want to make it clear that Pimco is unequivocally committed to inclusion, diversity and equity and that we have a zero tolerance policy for discrimination of any kind,” they said in the memo seen by Bloomberg.

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