Rally Assets terminates portfolio manager over hateful social-media message

A prominent investment company focusing on environmental and social issues has terminated one of its portfolio managers after a hateful private social-media message attributed to him was made public on social media.

Rally Assets said it has let go Serkan Altay, portfolio manager for its public investments, in response to an expletive-filled antisemitic message on Instagram directed at Eylon Levy, a former spokesperson for the Israeli government and frequent pro-Israel commentator. Mr. Levy subsequently reposted it on X, formerly known as Twitter.

In a statement on Friday, Toronto-based Rally said it became aware of the “offensive and unacceptable social-media message,” which violated its code of conduct and ran “counter to our values and commitment to social justice.”

“Following an internal investigation, this individual is no longer employed by Rally Assets. We remain committed to supporting inclusion, working towards justice and opposing hatred,” the company said.

Mr. Altay did not respond to a request for comment sent via LinkedIn. According to his profile, he had been with Rally for two years, having previously worked in finance roles at various other organizations.

Rally Assets manages funds that prioritize sustainable-development goals alongside financial returns for institutional investors and others. Such investments have increased in popularity in recent years.

Last year, Rally made headlines when Ottawa selected the company and its partner, Relay Ventures, as one of three groups in charge of managing a $400-million social-finance fund focused on sustainable agriculture and microfinance as well as accessible health care and education. Mr. Altay was not involved with that fund, Rally said. It declined to comment further.

Mr. Levy became a familiar face on television news after the Oct. 7 Hamas attack on Israel, but the Israeli government suspended him in March after he challenged British Foreign Secretary David Cameron on social media over the issue of humanitarian aid for Gaza.