A former Citi executive has accused Andy Sieg, the bank’s head of wealth, of subjecting her to a “campaign of unrelenting and egregious sexual harassment, manipulation, and grooming,” court documents show.
Julia Carreon, Citi’s former global head of platform and experiences, also alleged the bank has a “weaponized” human resources department that shields men who discriminate and create harmful work environments, but tosses away women who speak up about it.
Carreon was hired as a managing director in 2021 to transform the wealth management unit's digital experience. However, she said she was soon “harassed and sidelined when she succeeded” because she ruffled feathers of those affected by the changes.
When Sieg appeared to champion her work and promoted her in 2023, the bank’s “discriminatory and sexually harassing culture reduced her to being perceived as a sex object” who must be “sleeping with her boss.”
Sieg did not refute the suspicion, which resulted in her debasement and humiliation, Carreon said, adding she was “subjected to pervasive gossip and discredited” because of the widespread assumption that Sieg promoted her for sexual reasons.
“This pervasive sexual harassment created a hostile work environment that robbed Carreon of power in the workplace, deprived her of her chance to shine on her own merit, and damaged her professional reputation,” the lawsuit alleged. “Others at Citi felt free to treat Carreon as worthless, incapable, and powerless because they believed that she had achieved success through an affair with Sieg rather than business acumen.”
Carreon left the bank in 2024. She is seeking unspecified damages from the bank for emotional pain, mental anguish and inconvenience, among other things.
Sieg has been subject to allegations of poor behavior before. The bank hired a law firm to investigate claims against him from current and former staff who said he unfairly sidelined employees, Bloomberg reported. Ida Liu, former global head of Citi’s private bank, left the bank over tensions with Sieg, according to the Financial Times.
Carreon wrote on LinkedIn that her lawyer spent 14 months trying to resolve the matter privately, but “Citi’s lawyer said he welcomed a public match.”
“It’s a life-altering decision to come forward, one no woman takes lightly,” Carreon wrote on LinkedIn. “But what happened during my three years at Citi, culminating in May, 2024, tapped into something non-negotiable that I’ve held deep inside since I was 7 years old: truth is worth defending, even when it costs you.”
A Citi spokesperson denied Carreon’s allegations.
“This lawsuit has absolutely no merit and we will demonstrate that through the legal process,” Citi spokesperson Mark Costiglio said.
