Monday, April 12, 2021
April 12, 2021

Linkedin Pinterest

Ken Fisher backlash could exceed $1 billion

The Columbian

The city of Boston announced Wednesday it is pulling its $248 million pension fund investment from Fisher Investments following founder and chairman Ken Fisher’s offensive remarks at a California conference last week, according to a statement from the city.

Boston joins a growing list of Fisher Investment’s losses, including Michigan’s $600 million and Philadelphia’s $54 million retirement-fund investments. The total damage from the remarks could exceed $1 billion after Fidelity Investments said Tuesday it is questioning its $500 million investment, according to Reuters. Florida is also reviewing its $175 million investment.

Fisher was accused of making remarks that compared securing investment clients to “getting into a girl’s pants,” according to Bloomberg. Fisher admitted to the comments and apologized.

“It pains me to know that my comments have caused you grief, concern and indignation. I sincerely apologize,” Fisher said in a press release.

The investment firm on Oct. 11 announced that it’s planning to start a diversity and inclusion task force as a result of Fisher’s comments, according to Bloomberg.

“Ken’s comments were wrong,” Fisher Investments Chief Executive Damian Ornani said.


Commenting is no longer available on Please visit our Facebook page to leave comments on local stories.