Former Citi Executive Alleges Sexual Harassment and Discrimination in Lawsuit
A former executive of Citi, Julia Carreon, has filed a lawsuit against the bank, alleging an environment of sexual harassment and discrimination that ultimately led to her departure from the institution. In the lawsuit, Carreon accuses Andy Sieg, the head of Citi’s wealth business, of instigating a relentless campaign of sexual harassment that tarnished her reputation.
The Allegations
Carreon, who held the position of global head of platform and experiences for Citi Wealth before resigning in the summer of 2024, filed the lawsuit in a federal court in Manhattan. According to the complaint, Sieg insinuated to colleagues that he and Carreon were engaged in a sexual relationship. The lawsuit also alleges that the bank’s internal investigation of the matter was deeply misogynistic and that the human resources department was weaponized against her.
The lawsuit brings to light the second instance in six months where Sieg has been accused of inappropriate behavior in the workplace. Despite facing these allegations, Sieg is not named as a defendant in the case.
Citi’s Response
In response to the lawsuit, Citi filed a petition to compel arbitration in a federal court in Texas, where Carreon resides. The bank maintains that the lawsuit has no merit and denies the allegations of sexual discrimination and harassment. Citi’s petition alleges that Carreon never raised concerns about racial or sexual discrimination during her employment and that she is attempting to evade the bank’s employment arbitration policy by fabricating a theory of sexual harassment.
Carreon’s attorney, Linda Friedman, deems Citi’s move as an attempt to intimidate and embarrass her client. Friedman argues that the bank is resorting to unprecedented and bizarre legal maneuvers.
The Impact
Carreon’s allegations and the subsequent lawsuit hold significant implications for Citi. This is not the first lawsuit the bank is facing related to claims of a hostile work environment and unlawful discrimination. Another ongoing lawsuit by Ardith Lindsey, a managing director in the bank’s global equities market division, alleges she was coerced into a relationship with a boss.
Furthermore, the lawsuit has put Sieg’s professional conduct into question for the second time in six months, with accusations of mistreatment of colleagues. It is noteworthy that Sieg reports directly to Citi’s CEO, Jane Fraser. Fraser has previously praised Sieg’s work and stated that she is “comfortable” with the outcome of an external investigation into allegations against Sieg.
The lawsuit underscores the importance of creating a safe, respectful, and non-discriminatory work environment. It also highlights the need for companies to take allegations of harassment seriously and to conduct thorough and unbiased investigations.
It remains to be seen how Citi will handle these allegations and what impact this will have on the bank’s reputation and leadership. The case also reinforces the need for transparency and accountability in the corporate world when dealing with matters of discrimination and harassment.
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