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Race bias costs $300,000 for Malvern’s Vanguard Group

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in Discrimination and Harassment,Human Resources

The financial services firm Vanguard Group has settled a racial discrimination complaint with the EEOC for $300,000. The case involved Barbara Alexander, a black applicant for a financial planning manager position at a Vanguard office in North Carolina.

The company is headquartered in Malvern.

Alexander held an MBA in finance and had 14 years experience in financial planning when she applied for the job. Vanguard hired a white applicant with less experience for the position.

Vanguard admitted no wrongdoing, but agreed to pay Alexander $300,000 and enter into a two-year consent decree with the EEOC. Under the settlement, the company must refrain from discriminating and provide anti-discrimination training to managers and supervisors.

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