Fidelity said to fire star fund manager after sexual harassment allegation
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.