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Registered investment firm Fisher Investments plans to set up a diversity and inclusion task force following the controversy surrounding the sexist remarks of its founder and chairman Ken Fisher at the Tiburon CEO Summit.

The news about the task force was obtained from internal company memos by InvestmentNews. The memos included an apology from Fisher and comments from CEO Damian Ornani who said Fisher’s comments were wrong.

Ornani noted that Fisher had made similar remarks in the past but clarified that the firm is committed to diversity.

The Iowa Public Employees’ Retirement System (IPERS), one of the firm’s institutional clients, has expressed concerns over Fisher’s remarks. IPERS spokesperson Shawna Lode said they hold their partners to the highest standards and reserve the right to sever or amend any contract at their discretion.

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