(CNBC) — The state of Michigan has pulled $600 million of its pension fund from wealth management company Fisher Investments after the company’s founder and CEO Ken Fisher made sexist comments at a summit in San Francisco this week.
At the Tiburon conference, Fisher compared his wealth management strategy to picking up women for sex, made explicit remarks about genitalia and mentioned Jeffrey Epstein, the financier who was charged with trafficking girls this year before hanging himself in prison.
Michigan Chief Investment Officer Jon Braeutigam told the state’s investment board that its bureau of investments has fired Fisher Investments due to the chairman’s “completely unacceptable comments,” according to a letter obtained by CNBC.
