IFM Investors

Ms Abildgaard, 27 years old, claimed that Mr Michel-Verdier, 50 years old, said 'if I was 20 years younger, I would have been all over you' and that she should go his hotel room so "we could have fun" before sending her whatsapp messages including one with his hotel room number and a smiling emoji, while the pair were celebrating a business deal at a nightclub in Madrid.[13][14] He was also said to have stood "inappropriately and intimidatingly" close to her and said: "You do not understand, I'm so much older than you. I know more about sex. I can teach you a lot of things.".[15] In addition to the comments and text messages on the night at the club in Spain, Ms Abildgaard also alleges that Mr Michel-Verdier tried to call her twice in the early hours of March 17 and that he approached her on March 19 at work and said to her: "Good night out Friday, I was so drunk I missed my flight out on Saturday." He is also said to have sent her a message on April 11 after her resignation saying: "Good luck for your new endeavour (now we can meet).".[15] Ms Abildgaard's claims have been supported by copies of WhatsApp messages and witness statements from current and former IFM employees.[16]

As well as detailing harassment allegations against Mr Michel-Verdier during the tribunal hearings, Ms Abildgaard raised concerns over how IFM Investors had handled her allegations, claiming she was subjected to "retaliation" and "victimisation" after making a formal complaint. "I perceived IFM Investors to have an incentive to 'brush the whole thing under the carpet': it does not look good to investors (pension funds in particular) when a very senior member of staff is found to have behaved highly inappropriately towards several female employees for years (and the organisation has ignored several complaints for years) in particular when IFM brands itself as being pro-diversity and equality," Ms Abildgaard said in statements provided to the tribunal.[16] Ms Abildgaard alleged that IFM executives were aware of Mr Michel-Verdier's history of "questionable behaviour" including bullying and making sexist comments to women but did not take enough action to stop it. Witness statements were made in support of the bullying and sexism allegations.[16]

Ms Abildgaard sought compensation from IFM for her annual bonus of £60,950 after claiming she was forced to leave IFM's London office earlier than planned following alleged harassment.[16] She left IFM in April 2018 as a result of the sexual harassment.

Frederic Michel-Verdier, who is married, denied the allegations but was reprimanded by the firm for 'misuse of alcohol' over the incident.[17] IFM's global head of people and culture Amelia McArdle said in her witness statement that Mr Michel-Verdier 'stated that he was stunned' and that 'he had no recollection of having sent messages, or the content of those messages,' that 'he explained that there had been a lot of drinking over the course of the evening ... and stated that while he may have made some bad jokes, he did not intend any wrongdoing.' IFM said it investigated the claims after the investment group was made aware of the complaint, and concluded that while Michel-Verdier sending his room number breached its code of conduct. Mr Michel-Verdier had his bonus cut and was banned from drinking at work events for 12 months, but the firm 'felt we could not reasonably conclude that there had also been verbal unwanted and physical advances.' IFM Investors and Mr Michel-Verdier defended the allegations, arguing in tribunal proceedings that Ms Abildgaard's claims were a "misconceived attempt to cause inconvenience, expense and embarrassment" and an attempt to force IFM into paying her substantial sums of money.[16]

Mr Michel-Verdier said "it was irresponsible and naive to have allowed myself as a senior employee at IFM to be put in the position where my actions could easily be twisted and misrepresented.[18]

In April 2019, before returning to court, IFM Investors paid Ms Abildgaard £270,000 in financial settlement.[19] The settlement exceeded Ms Abildgaard's original claim of £236,000 and included a significant donation to Ms Abildgaard's charity Legal Aid for Business Diversity that she set up to help people who have faced discrimination at work.[20][21] The settlement unusually contained no non-disclosure ("gagging") clause.[22]

Mr Michel-Verdier continued to work for IFM Investors, but left the company later in the year to "pursue personal business interest. His last day was August 30, 2019. It is unclear whether or not he reigned voluntarily or was asked to leave.[23]