Citigroup slams sexual harassment claims against top exec Andy Sieg
Citigroup faced allegations from a former managing director regarding sexual harassment by wealth management chief Andy Sieg. The bank strongly refuted the claims made by Julia Carreon, stating that she had previously expressed unwavering support for Sieg and that the case should be resolved through arbitration.
In response to Carreon’s lawsuit for unspecified damages, Citigroup filed a petition to move the case to arbitration in Austin, Texas. Carreon accused Sieg of multiple instances of sexual harassment, including inappropriate comments and actions, as well as alleged mistreatment by the human resources department.
Despite Carreon’s accusations, Citigroup maintained that there was no factual or legal basis for the claims of sexual harassment against Sieg. They highlighted instances where Carreon had praised Sieg’s leadership and integrity, even in the months leading up to her departure from the bank.
Carreon’s lawyer, Linda Friedman, emphasized her client’s determination to seek justice through the legal system. Friedman criticized Citigroup’s response as retaliatory and reflective of the challenges faced by women and people of color in seeking accountability from Wall Street firms.
Citigroup pointed out that Carreon had agreed to arbitration policies upon her hiring in 2021 and reiterated this agreement in 2022. The bank also referenced the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act signed by President Joe Biden, which restricts companies from mandating arbitration for such claims.
Andy Sieg, a prominent hire by Citigroup CEO Jane Fraser, was not named as a defendant in Carreon’s lawsuit. Carreon had been based in Austin during her tenure at the bank.
