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Citigroup is defending itself after a former managing director filed a lawsuit alleging sexual harassment, racial discrimination, and retaliation inside the bank’s wealth management division.
The complaint was submitted Monday in Manhattan federal court by Julia Carreon, who previously held the role of Global Head of Platform and Experiences.
Carreon alleged that Andy Sieg, who oversees wealth management, initially backed her career progression when he joined the bank in October 2023, helping her secure a promotion. Court filings claim this support shifted into what she described as a “campaign of unrelenting and egregious sexual harassment, manipulation, and grooming,” including frequent calls and text messages and requests that she sit close to him in meetings. She said Sieg treated her “much differently” from male colleagues. Sieg is not named as a defendant.
HR culture allegations emerge
Carreon alleged that Citigroup’s HR function contributed to her departure, claiming the department was “weaponized” to remove her from the business. Her filing stated this was “consistent with HR’s perpetuating Citi’s decades-long history of bias and harassment against women.” Carreon said she left the bank in June 2024.
The complaint referenced an incident in which Sieg told two male colleagues that he and Carreon had a “secret song” by Kings of Leon, which she said caused the room to fall silent. She also alleged that HR later investigated what she described as false accusations labeling her a bully who advanced due to “special access” to Sieg. According to the filing, Sieg stopped speaking to her in May 2024.
Citigroup stated: “This lawsuit has absolutely no merit and we will demonstrate that through the legal process.” Lawyers for Carreon did not immediately respond to requests for comment.
Scrutiny extends beyond a single case
Some reports last year from Bloomberg News and the Financial Times included allegations that Sieg intimidated and sidelined employees, with Bloomberg noting concerns raised by both men and women. Sieg did not respond to Bloomberg and declined to comment for the Financial Times. Citigroup is also defending a separate claim by another managing director, Ardith Lindsey, who alleged violent threats from a different supervisor and a “pervasive” culture of sexual harassment and gender discrimination.
Citigroup is the third largest US bank by assets and is led by Chief Executive Jane Fraser. Sieg is one of Fraser’s highest-profile hires.
