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In letter to executives, Pimco’s women employees allege discrimination: WSJ

Economy, Finance

Current and former women employees of Pacific Investment Management Co. have alleged in a letter to the bond giant’s top executives that there’s a pattern of abusive and discriminatory behavior toward women, urging the leaders to take steps to fix pay and promotion gaps, the Wall Street Journal reported Friday. The letter, signed by 21 women, was sent Thursday to Pimco’s Chief Executive Emmanuel Roman, investment chief Dan Ivascyn and other top executives, the newspaper said. Three of the women who cosigned the document have filed lawsuits against Pimco in the past two years, alleging gender or racial discrimination. Pimco is fighting the lawsuits, the newspaper said. The cosigners also asked Pimco to develop a five-year diversity plan for senior staff and to set up a complaint hotline run by an independent party, the Wall Street Journal said. According to the report, Pimco said through a spokesperson that it engaged a third-party expert to conduct a review as soon as the claims emerged, and that the investment firm has already addressed many of the actions recommended.

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