A rolling element bearing includes an inner ring and an outer ring, with rolling elements therebetween. The plurality of rolling elements collectively define a pitch diameter. An electrically-conductive shunt ring has an outer diameter surface and an inner diameter surface, one of which contacting either the outer ring or the inner ring, and the other not directly contacting the rings. A plurality of fingers extend from the contacting diameter surface. A plurality of carbon fiber elements extend from each finger and contact the other of the rings, to conduct electrical current between the inner ring and outer ring. The non-contacting diameter surface of the shunt ring defines a diameter that exceeds the pitch diameter to enable free-flow of lubricant through the bearing.