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Aussie advice firm exec accused of sexual harassment

Former employee alleges her career suffered as a result.

A woman that used to work for Australian advisory firm IOOF has accused its deputy chief investment officer and head of equities, Stanley Yeo, of repeated sexual harassment, as reported by FSA‘s sister publication, International Adviser.

She alleges the misconduct even took place on her wedding day.

On top of that, she claims she was sexually discriminated against by her direct manager, Osvaldo Acosta, and that both his and Yeo’s behaviour left her distressed and humiliated, reports local news website IFA and newspaper AFR.

The allegations relate to a promotion, for which the claimant said she was passed up for as a result of the harassment, and she is now seeking damages for loss of opportunity and future income.


IOOF said in a statement: “IOOF takes all employee complaints seriously as part of our commitment to providing a safe and secure work environment for our people. There are a comprehensive set of procedures in place for handling any employee complaints.

“Once the allegations in question were raised, which was after the complainant’s departure, IOOF immediately commenced its formal grievance handling processes.

“IOOF is confident that it has acted appropriately at all times and will defend the unfair dismissal claim in court. IOOF respects and continues to support the legal process.

“Our code of conduct makes it clear that employees should behave ethically and professionally towards one another at all times and that any form of harassment or discrimination will not be tolerated.

“There is nothing we take more seriously than ensuring our culture at IOOF is safe and supportive for everyone.”

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