Portal:Connecticut/Selected biography/3

Alphonse "Buddy" Fletcher, Jr. (born 1966) is an African-American philanthropist who had previously been a successful money manager. Fletcher first became notable when employed by Kidder, Peabody & Co. During this time, he had an agreement entitling him to 25% of the profits he earned for the firm. However, when he generated $25 million one year, the firm did not uphold its agreement, and Fletcher sued for racial discrimination and US$3 million in back pay. He eventually won an arbitration award of $1.3 million. Fletcher had worked at Bear Stearns before working for Kidder and founded his own firm, Fletcher Asset Management, after the dispute with Kidder Peabody. Having donated tens of millions of dollars to various charitable causes, Fletcher has become a major philanthropist. He has established several lasting legacies with his charitable efforts; two such efforts include the establishment of the Fletcher Foundation and the endowment of a University Professorship at Harvard University.