A former Citigroup Inc. wealth management executive has launched a lawsuit against the bank, claiming she was sexually harassed by Andy Sieg, one of its most senior leaders, who has already faced criticism over how he treats staff. The claim adds to the pressure on a business that is still trying to rebuild trust inside and outside the firm.
Julia Carreon, who left the bank in 2024, filed her case on Monday in federal court in Manhattan. She says she was subjected to months of sexual harassment by Sieg and accuses Citigroup of running a “weaponized” human resources department. Her filing argues that the systems meant to protect staff were instead used to protect senior figures and silence complaints.
The lawsuit is the latest in a series of allegations about Sieg’s behaviour. Bloomberg reported last year that Citigroup had hired the law firm Paul Weiss to investigate complaints made by current and former employees. At least six managing directors raised issues, and both men and women reported concerns to human resources, according to people familiar with the matter.
The internal inquiry was launched at the request of the head of human resources. Citigroup’s board has also received anonymous complaints about Sieg’s conduct, covering his time at the bank and earlier stages of his career.
Despite this, Chief Executive Officer Jane Fraser said she was “comfortable” with the review’s outcome. In November, she expanded Sieg’s responsibilities by putting Citigroup’s retail business under his control, a move that surprised some inside the firm, given the background of concerns.
Citigroup has strongly rejected Carreon’s claims. “This lawsuit has absolutely no merit and we will demonstrate that through the legal process,” spokesperson Mark Costiglio said. Carreon joined Citigroup to help strengthen its digital operations, an area seen as crucial to the future of its wealth business.
In her lawsuit, she alleges that Sieg showed “public and sexually charged conduct toward her,” and that this behaviour fuelled rumours across the firm that she was having an affair with him. She says the gossip took a serious personal toll, leaving her distraught and unable to sleep. According to the filing, the situation became so unbearable that she felt she had no choice but to leave the bank in 2024.
The claims land at a difficult time for Citigroup’s wealth management arm. The business has struggled to keep pace with major rivals since the aftermath of the 2008 financial crisis, when the bank agreed to sell its Smith Barney retail brokerage to Morgan Stanley. That deal reshaped Citi’s wealth management presence and left it playing catch-up for years.
Jane Fraser recruited Sieg in 2023 from Bank of America Corp. with the hope that he could help turn the division around and inject fresh momentum. His appointment was seen as a statement of intent, with insiders saying he had been given a powerful mandate to drive change. The new lawsuit, however, threatens to distract from those ambitions and raises uncomfortable questions about culture at the top of the organisation.
For many employees and observers, the case is about more than one individual. It highlights ongoing tensions around how large financial institutions handle complaints, how seriously they take concerns raised by staff, and whether internal processes genuinely protect people who speak up. The legal battle is likely to bring more scrutiny to Citigroup’s leadership and its handling of past allegations in the months ahead.
READ NEXT
- Kristen Stewart says she might leave the US because making movies under Trump feels “Impossible”
- “I’m Against the Violence”: US First Lady Melania Trump Speaks out on Minneapolis Protests as The View Questions her Timing
- Citi Worker’s sexual harassment Lawsuit raises concerns about workplace protections
- Search for woman missing from Garden City since January 14
- Brittney Griner says new documentary feels like a warning for America
