Ex-Citi Executive Accuses Wealth Chief of Sexual Harassment
Julia Carreon, a former executive at Citi, has initiated legal action against the bank, alleging a culture of sexual discrimination that culminated in her resignation. Carreon’s lawsuit specifically targets Andy Sieg, the head of Citi’s wealth business, claiming he engaged in persistent sexual harassment that damaged her professional reputation. This case represents the second accusation against Sieg within six months regarding inappropriate behavior in the workplace.
Details of the Allegations
Carreon, who previously served as the global head of platform and experiences for Citi Wealth, filed the lawsuit on a Monday in federal court in Manhattan. The complaint outlines a series of allegations against Sieg, including:
- Encouraging rumors of a sexual relationship between him and Carreon.
- Engaging in a campaign of “unrelenting and egregious sexual harassment.”
- Manipulating perceptions of Carreon that led to reputational harm, effectively forcing her resignation.
Carreon describes the internal investigation, conducted by Citi’s human resources, as “deeply misogynistic.” Notably, Sieg is not named as a defendant in this lawsuit.
Background Context
Carreon joined Citi in 2021 after a distinguished career at Wells Fargo, where she served as chief digital officer of the private bank. Her tenure at Citi lasted until May 2024 when she decided to leave amidst the allegations she has now brought to light.
She claims that from the outset, certain male colleagues exhibited hostility towards her, linked to an underlying bias against her as a woman of color. According to Carreon, she faced ongoing disrespect and manipulation from male executives, leading to her feeling marginalized and undervalued in her role.
Citi’s Response
Citi has publicly denied the allegations, describing the lawsuit as having “absolutely no merit.” The bank is also currently defending another lawsuit filed by Ardith Lindsey, a managing director who accuses the organization of fostering a hostile work environment and coercing her into a relationship.
In the wake of these developments, Citi’s leadership, including CEO Jane Fraser, has been scrutinized. Fraser previously endorsed Sieg’s efforts in revamping the wealth division, but she has since stated she was “comfortable” with the outcomes of an earlier investigation into his conduct.
Statements from Carreon
Carreon expressed her determination to seek justice, stating on LinkedIn that taking legal action is “a life-altering decision” that no woman makes lightly. Her lawyer purportedly attempted to resolve the matter privately for 14 months, but efforts were rebuffed by Citi’s legal team.
In the lawsuit, Carreon details instances of inappropriate comments and actions that left her feeling degraded and humiliated. She describes the toxic environment as one that reduced her achievements to mere speculation about her personal relationships with male executives.
Future Actions
Carreon has indicated plans to file a charge of discrimination with the Equal Employment Opportunity Commission. Since leaving Citi, she has taken on a role as a strategic advisor at Veritas Wealth Partners but has reported difficulty finding new employment.
As this situation continues to unfold, it highlights ongoing issues of discrimination and harassment in corporate environments, particularly within major financial institutions like Citi.
