Pimco strongly defended its workplace culture in response to a race and gender discrimination lawsuit from an in-house counsel.
Pimco, the $1.8-trillion asset manager, strongly defended its workplace culture in response to a race and gender discrimination lawsuit from an in-house counsel.
In a Nov. 12 response, Pimco said the firm “vigorously denies that it has engaged in any type of systematic or other discrimination against female employees, employees of color, or mothers, with respect to compensation, performance evaluations, promotions, business opportunities or professional support.”Pimco also said it “denies plaintiff’s sensationalized and unfounded allegations of a fraternity culture within the firm, which have been manufactured for this lawsuit.
The Inokon lawsuit is unusual in the finance industry, which has tended to keep discrimination and harassment complaints out of the courts.Pimco said in its filing that U.S.-based senior vice presidents, such as Inokon, in legal and compliance were compensated fairly. For example, female senior vice presidents “had higher average compensation than male SVPs, and the highest-paid SVP was a woman” in 2018, it said.
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