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Ken Fisher Says No Lay-Offs Despite Withdrawals Over His Remarks

TedTed
edited October 2019 in Fund Discussions
FYI: (This Is A Follow-Up Arrtcle.)

Fisher Investments founder Ken Fisher said there will be no lay-offs at his Washington state investment firm despite some $3 billion in withdrawals by pension funds and others over allegedly sexist remarks he made at an investor conference.

In a local newspaper column published late on Friday, Fisher wrote that most of the firm is growing based on business from high net worth individuals, retirement savings plans and foreign institutions.

He wrote that growing revenue in those areas more than makes up for high-profile withdrawals from state and local pension plans and other clients. The withdrawals totaled more than $3 billion as of Friday as systems in Texas, California and elsewhere withdrew money.
Regards,
Ted
https://www.reuters.com/article/us-funds-fisher/ken-fisher-says-no-lay-offs-despite-withdrawals-over-his-remarks-idUSKBN1X71OY?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/businessNews+(Business+News)

Comments

  • LewisBraham
    I can think of one potential layoff there that might make sense.
  • JoJo26
    Why would $3 billion move the needle? I'm sure the entire firm is well-compensated and losing $3 billion will not impact the firm's ability to continue doing so.

    That said, $3 billion may only be the beginning...
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