Skip to main content
pilogo-NEW
Subscribe
  • Subscribe
  • My Account
  • login
  • NEWS
    • Alternatives
    • Consultants
    • Defined Contribution
    • Frontlines
    • Hedge Funds
    • Investing / Portfolio Strategies
    • Money Management
    • Pension Funds
    • People Moves
    • Private Equity
    • Real Estate
    • Searches & Hires News
    • Special Reports
    • BlackFin closes third fund at €985 million, above its target
      Alerian acquires S-Network Global Indexes
      OMERS Ventures picks Uber veteran
      Neil Sheth
      More asset owners clamoring for multistrategy private credit
    • Mercer appoints global alternatives leader for wealth business
      KPMG offloads pension advisory unit to private equity firm
      Ascensus snaps up Nyhart in latest deal
      Willis Towers Watson exec promoted to lead retirement unit
    • Drew Carrington
      New data questions conventional wisdom
      Kathleen Long
      Plans enticing 401(k) savings even without employer contribution
      Joe Caldera
      Group acting to plug a gap in retirement
      Jean Young
      Analysis on stretching the match shows it doesn't work as intended
    • Ray Dalio book
      Dalio releases illustrated version of ‘Principles’ book
      Youngjae Ryu
      Korea Corporate Governance Forum set to debut Dec. 12
      MOney maze
      PLSA has tips for trustees of U.K. retirement funds
      Norm Champ
      Norm Champ shifts his focus to financial literacy in latest book
    • Macro hedge fund Stone Milliner shutting down
      James Medeiros
      Hedge fund managers are warming up to custom funds
      Louis Bacon
      Moore Capital's Louis Bacon to quit money management business
      James Yeh
      Citadel promotes James Yeh to president and co-CIO
    • CalPERS’ committee mulls new investment policies
      ESG worked in 2019, but questions remain for long term
      Wyoming investment board picks 2 for small-cap equities
      Pennsylvania Municipal Retirement looking for investment consultant
    • Mihir Worah
      PIMCO CIO for asset allocation and real assets to retire
      Icahn lays off workers as firm decamps to Miami
      Pacific Life hires head for new institutional arm
      1251 Capital acquires majority stake in Ziegler Capital
    • CalPERS’ committee mulls new investment policies
      Australian regulator lists underperforming funds
      PPF 7800 index funding deficit drops in November
      CDC, Laerernes commit to Amundi, EIB green bond program
    • Mihir Worah
      PIMCO CIO for asset allocation and real assets to retire
      OMERS Ventures picks Uber veteran
      Mercer appoints global alternatives leader for wealth business
      Apollo Global taps Bain Capital veteran to lead its Japan business
    • Parthenon Capital raises $2 billion with latest private equity fund
      Investindustrial raises €3.75 billion with seventh European buyout fund
      Sightway Capital closes first fund with $1.2 billion
      Private equity practices aired at House hearing
    • Schroders appoints real estate capital partners head
      CBRE acquires U.K. real estate debt investment business Laxfield Capital
      USAA to sell controlling interest in real estate unit
      Cold storage
      A hot time for those seeking the cold
    • Washington State Retirement hires Milliman as actuarial auditor
      Howard County allocates $7 million to venture capital
      Wisconsin deferred comp chooses Wilshire to analyze stable value options
      Illinois Teachers doles out $665 million to 5 alts managers
    • The best places to work in money management 2019
      Investment Consultants
      The 2019 Excellence & Innovation Awards
      Top-performing managers Q3 2019
  • Data
    • Research Center
    • Searches & Hires Database
    • Searches & Hires News
    • RFPs
    • Charts / Infographics
    • Sponsored Research
    • Trackers
    • Q3 2019 money manager M&A activity summary
      Q3 2019 legal overview report
      Q3 2019 searches and hires overview report
      P&I resources can give a leg up in winning new business
    • Washington State Retirement hires Milliman as actuarial auditor
      Howard County allocates $7 million to venture capital
      Wisconsin deferred comp chooses Wilshire to analyze stable value options
      Illinois Teachers doles out $665 million to 5 alts managers
    • Washington State Retirement hires Milliman as actuarial auditor
      Howard County allocates $7 million to venture capital
      Wisconsin deferred comp chooses Wilshire to analyze stable value options
      Illinois Teachers doles out $665 million to 5 alts managers
    • Transitional Manager Services
      457b DC PENSION PLAN
      Overlay and Passive Risk Balanced Investment Manager
      In-Kind Distribution Management Services (Private Markets) Provider Search
    • ESG worked in 2019, but questions remain for long term
      Latin America preparing for aging population
      To cheap large-caps go the spoils
      Only place to go is ... down
    • Institutional Investors: Shared Expectations, Divergent Paths
      Global Investor Study 2016
      Workplace Financial Wellness
    • U.S. Endowment Returns Tracker
      Pension Fund Returns Tracker
      Earnings Tracker
      Corporate Pension Contribution Tracker
  • Insights
    • Opinion
    • White Papers
    • Industry Voices
    • Other Views
    • Partner Content
    • Publisher's Update
    • Multiemployer fund legislation cartoon
      Multiemployer compromises needed
      SEC cartoon
      SEC rules need measured response
      High hopes for consistency and guidance from Scalia
      DC West poster
      Financial wellness gets spot at the table
    • Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
      WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
      Automation, lower fees driving institutional interest in factor investing and smart beta strategies
      A Great Time to Be Agnostic?
    • Gerald Cooper
      Commentary: Single-asset deals – a structure benefiting GPs and LPs alike
      Gordon Latter, Timur Kaya Yontar and Frank Benham
      Commentary: Plan sponsors, do you know your credit risk?
      Timothy Boomer
      Commentary: For plan sponsors, derivatives shouldn’t be a dirty word
      Martin Vogt
      Commentary: Renewables investing makes inroads in the Caribbean, Central America
    • Commentary: Stronger partnership needed between shareholders, managers
      Commentary: Revised statement on corporate purpose misses the mark
      Commentary: The associated costs of DB terminations
      Commentary: Support the Butch Lewis Act
    • P&I Content Solutions
      EDHEC Research For Institutional Money Management - December 2019
      P&I Content Solutions
      Dynamic derisking: How an OCIO can help plan sponsors manage funding volatility
      P&I Content Solutions
      OCIO graduates from education phase
      P&I Content Solutions
      How to navigate the choppy investment waters expected in 2020
    • Everything Must Change
      Tomatoes & Investments
      Baby, it’s hot outside!
  • Multimedia
    • Videos
    • Webinars
    • Polls
    • Slideshows
    • Charts / Infographics
    • Excellence & Innovation Awards 2019: Laura Mittelstaedt
      DC West 2019
      Excellence & Innovation Awards 2019: Lisa Joe
      DC West 2019: Empower Retirement's Doug Peterson on cybersecurity
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
    • POLL: Creating a great workplace
      POLL: Shared values between money managers and plan sponsors
      POLL: Climate change's impact on investing
      POLL: Ultralong-term U.S. Treasury bonds
    • view gallery
      85 photos
      Best places to work in money management 2019
      view gallery
      21 photos
      The world's 20 largest retirement funds
      view gallery
      11 photos
      Top 10 DC money managers
      Top 15 managers by worldwide institutional AUM
    • ESG worked in 2019, but questions remain for long term
      Latin America preparing for aging population
  • Events
    • Conferences
    • Webinars
    • East Coast DC Conference
      Fixed Income & Credit
      DC Investment Lineup
      ESG Investing
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
  • Careers
  • Research Center
MENU
Breadcrumb
  1. Home
  2. COURTS
January 25, 2018 12:00 AM

Former TCW executive sues firm alleging she was fired after filing sexual harassment complaint

Arleen Jacobius
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Getty Images

    Sara Tirschwell, a former managing director of TCW Group's distressed debt strategy group and portfolio manager of the TCW Distressed Fund, on Thursday sued TCW alleging the firm fired her in December after she had lodged a sexual harassment complaint with TCW against her direct supervisor, Jess Ravich, group managing director and head of alternative products, according to the complaint.

    The complaint, filed in state court in New York, seeks at least $30 million for unlawfully terminating her, breaching her employment contract and violating the New York City Human Rights Law, which bars discrimination on the basis of gender.

    Ms. Tirschwell alleges that beginning in the spring of 2016 Mr. Ravich arranged breakfast meetings with her "ostensibly to discuss business" at which he was usually dressed in a bathrobe and made "unwanted sexual advances," the complaint alleges.

    "He (Ravich) repeatedly coerced her into sex, implicitly threatening that if she rejected his advances, TCW would deprive her of resources and investor access that were essential to her successfully building out the Distressed Fund," the complaint alleges. Ms. Tirschwell stopped attending the breakfast meetings in early 2017.

    After she stopped attending the meetings, Mr. Ravich allegedly began to repeatedly tell Ms. Tirschwell that David Lippman, presidenTCW Group of TCW Group, did not like her because she was "'sharp elbowed,' a trait common among Tirschwell's male counterparts," the complaint states. Mr. Lippman also allegedly complained to others at TCW's Los Angeles office that Ms. Tirschwell was "bitchy" and "yelled at people."

    The complaint states that Ms. Tirschwell's contract with TCW included a provision that if she had not raised a minimum of $100 million by March 31, 2017, her contract would be automatically terminated. Mr. Ravich later helped Ms. Tirschwell get an extension to Feb. 28, 2018. However, after Ms. Tirschwell stopped having sex with Mr. Ravich, the complaint alleges, he discontinued interceding for her to get her marketing, legal and other back-office support. The complaint alleges that in November, after Ms. Tirschwell had already been told that her contract would expire on Feb. 28, Mr. Ravich pressured her to leave TCW by the end of 2017 in exchange for a $700,000 severance package. At that point, Ms. Tirschwell lodged her sexual harassment complaint. Ms. Tirschwell was terminated nine days later.

    Both Messrs. Lippman and Ravich declined to comment. A TCW spokesman said Ms. Tirschwell was dismissed for cause and had not made a complaint until she was dismissed.

    Doug Morris, TCW spokesman, added in an email: "Ms. Tirschwell was dismissed for cause due to repeated, documented violations of firm policy, and had made no complaint of any kind before it was clear she was being dismissed. TCW is proud of its inclusive culture and has a zero tolerance policy for any form of predatory behavior. We are committed to taking appropriate action in any case where harassment claims are made, and in this matter, TCW promptly engaged an independent investigative firm to examine the allegations and determine the facts. Ms. Tirschwell has declined to participate in the investigation."

    Steven Storch, Ms. Tirschwell's attorney, said: "TCW fired Sara Tirschwell before commencing an independent investigation of her complaint against Jess Ravich. She was willing and prepared to cooperate in any such independent investigation while she was employed at TCW but was not afforded the opportunity to do so."

    Related Articles
    TCW, Gundlach settle all claims
    Abigail Johnson makes rare speech as Fidelity deals with harassment
    Nippon Life buys 25% stake in TCW Group from Carlyle
    TCW says former managing director suing firm was fired for compliance violations
    Senators call on SEC, FINRA for sexual harassment data for financial sector
    TCW terminating distressed debt fund formerly managed by woman suing for sexual…
    PIMCO accused of discrimination, retaliation by female executive
    Female PIMCO executive sues firm over age, sex discrimination
    Lawyer representing fired TCW manager says firm is seeking to keep personal inf…
    TCW defendant wants his information to be kept confidential
    Recommended for You
    sponsored content
    Events
     
     
    Advertisement
    White Papers
    A Great Time to Be Agnostic?
    Shedding the Home-Country Bias
    Automation, lower fees driving institutional interest in factor investing and s…
    WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
    Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
    View More
    Sponsored Content
    Partner Content
    How Big Data Delivers Solutions to ESG Investors
    How a Multisector Credit Approach Can Lower Risk, Increase Diversification
    ESG Investing Supplement
    Know Your DB Plan’s ‘Persona’ to Help Make the Right Strategy Choices
    Leveling the playing field for public employee retirement security
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    pilogo-NEW
    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    150 N. Michigan Ave.
    Chicago, IL 60601

    Contact Us

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    Pensions & Investments
    Copyright © 1996-2019. Crain Communications, Inc. All Rights Reserved.
    • NEWS
      • Alternatives
      • Consultants
      • Defined Contribution
      • Frontlines
      • Hedge Funds
      • Investing / Portfolio Strategies
      • Money Management
      • Pension Funds
      • People Moves
      • Private Equity
      • Real Estate
      • Searches & Hires News
      • Special Reports
    • Data
      • Research Center
      • Searches & Hires Database
      • Searches & Hires News
      • RFPs
      • Charts / Infographics
      • Sponsored Research
      • Trackers
    • Insights
      • Opinion
      • White Papers
      • Industry Voices
      • Other Views
      • Partner Content
      • Publisher's Update
    • Multimedia
      • Videos
      • Webinars
      • Polls
      • Slideshows
      • Charts / Infographics
    • Events
      • Conferences
      • Webinars
    • Careers
    • Research Center