Franklin Templeton fired an employee after a confrontation she had with an African American man in Central Park that was captured on video.
The video shows a white woman with an unleashed dog in a wooded area of the park calling the police.
“There is an African American man,” she said. “He is recording me and threatening myself and my dog.” The video was posted to Twitter by the man’s sister, who wrote that he is an avid birdwatcher and had asked the woman to put her dog on a leash. The man, Christian Cooper, also posted the video online.
The woman, Amy Cooper, the head of insurance investment at the company, issued an apology on CNN.
Cooper’s behavior drew a backlash on social media. After the video was posted on Monday, the firm placed her on leave. Tuesday afternoon, it announced her termination.
“Following our internal review of the incident in Central Park yesterday, we have made the decision to terminate the employee involved, effective immediately,” a spokeswoman said in a statement. “We do not tolerate racism of any kind at Franklin Templeton.”
The company didn’t name the employee.
“I’m not a racist,” Cooper told CNN. “I did not mean to harm that man in any way. I sincerely and humbly apologize to everyone, especially to that man, his family.”
She added that her “entire life is being destroyed.”
Central Park rules state that dogs must be leashed at all times in the Ramble, the area where the woman was with her dog.
Franklin Resources Inc. is the parent of Franklin Templeton.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.