Citigroup slams sexual harassment claims against top exec Andy Sieg
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On Tuesday, Citigroup strongly refuted allegations made by a former managing director who accused the bank of sexual harassment involving its wealth management chief, Andy Sieg. The bank contended that the claims, which came from Julia Carreon, should be settled through arbitration rather than in court, asserting her unwavering support for Sieg during her tenure.

The third-largest bank in the United States took action by filing a petition in a federal court in Austin, Texas, to have the case moved to arbitration. This move came just a day after Carreon initiated a lawsuit in Manhattan, seeking unspecified damages against Citigroup.

In her lawsuit, Carreon alleged that Sieg engaged in repeated and public acts of sexual harassment. She claimed that he implied an intimate relationship between them and mentioned to colleagues that they had a “special song.” Furthermore, Carreon accused Citigroup’s human resources department of being complicit, allegedly using its power to push her out of the organization.

However, Citigroup’s petition on Tuesday firmly denied any factual or legal grounds for Carreon’s claims of harassment by Sieg. The bank, headquartered in New York, also highlighted that Carreon continued to express strong support for Sieg even months after the alleged harassment began, right up until her departure on June 7, 2024.

The New York-based bank also said Carreon “remained steadfast in her praise for Mr. Sieg” several months after she claimed his harassment began, and through her final days at the bank before her June 7, 2024, departure.

In one example, Citigroup said Carreon allegedly wrote to Sieg on May 29, 2024: “You are truly one of the most exceptional people & leaders I’ve ever met. Your integrity is irreproachable…. They are so lucky to have you.”

The day before she left, according to Citigroup, Carreon wrote Sieg and another top wealth executive: “Thank you both for attempting to change the culture. It’s not easy. Particularly not for change makers. Tmrw is my last day. Appreciate you. Can’t wait to watch the great things you’ll do.”

Carreon’s lawyer Linda Friedman said her client is a “strong person” who looks forward to her day in court.

“Citi’s retaliatory filing of a lawsuit against Ms. Carreon after she sued the firm for gender and racial discrimination speaks eloquently to the bullying and intimidation tactics Wall Street firms routinely employ against women or people of color who have the courage to seek reform,” Friedman added.

Citigroup said Carreon agreed when she was hired in 2021 and again in 2022 to be bound by its arbitration policy.

In March 2022, former President Joe Biden signed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, which prohibits companies from forcing employees with sexual harassment claims into arbitration.

Sieg is one of Citigroup Chief Executive Jane Fraser’s highest-profile hires. He is not a defendant in Carreon’s lawsuit. Carreon lived and worked in Austin while employed at Citigroup, the bank said.

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