Nicholas Pfosi for The Boston Globe
Fidelity Investments fired one of its top fund managers after he was accused of sexual harassment by a female employee, a person familiar with the matter said Thursday.
The decision to dismiss 41-year-old Gavin Baker was made by Fidelity CEO Abigail Johnson after a 26-year-old equity research analyst filed a complaint against Baker with the human resources department, the person said. His firing was first reported by The Wall Street Journal.
Baker managed the $14.6 billion Fidelity OTC Portfolio and was known as a savvy investor in technology stocks. He also bought stakes in privately held companies such as Uber.
“Gavin left Fidelity amicably a few weeks before planning to become engaged to his longtime girlfriend who is an analyst and fund manager there, as he believes his new fiancee and he should not work at the same firm,” a spokeswoman for Baker said in a statement. “After a great 18 years at Fidelity that he’s very grateful to have experienced he’s excited to begin a new job later this month.”
A Fidelity spokesman declined to comment on Baker. “However, speaking generally, when allegations of these sorts arise, we investigate them immediately and take prompt and appropriate action,” he said.
Baker’s fund, which he took over in July 2009, has returned 33.4 percent this year, compared with 23.5 percent for the Nasdaq Composite index, according to Bloomberg data. Sonu Kalra and Christopher Lin were named managers of the fund on Sept. 18, according to a regulatory filing.
Save the Children Federation said it was the victim of a $1 million cyberscam last year.Continue reading »
Boston aims to strike a balance as major development plans for Suffolk Downs move forward.Continue reading »
Owners of smaller toy shops are devising clever ways to compete with Amazon and big box retailers, after the demise of Toys “R” Us and with the arrival of the holiday season.Continue reading »
Delta unveiled ambitious plans on Monday to fulfill the pledge its chief executive made last year, plans that will make Logan the airline’s fastest-growing airport in 2019.Continue reading »
When they arrived at the Dominican resort, they were told they owed almost $10,000 more upfront for food and drink and could not check in until they paid up.Continue reading »
Timothy Springer invested $5 million in the startup’s early days. His windfall is one in a series of savvy investments.Continue reading »
Two new Boston complexes aim to maximize space in parking garages through automation.Continue reading »
The maximum cost will rise to $6.84 per check, up from $5.71 in 2014, the largest increase in five years.Continue reading »
It’s possible to return to the flip-phone era without leaving society. Really.Continue reading »