On Tuesday, Citigroup strongly rejected claims made by a former managing director who has filed a lawsuit against the bank. The lawsuit alleges that asset manager Andy Sieg sexually harassed her. Citigroup expressed its “firm” backing of her and believes that the matter should be handled through arbitration.
The bank, which ranks as the third-largest in the U.S., has submitted a motion to a federal court in Austin, Texas, seeking to keep Julia Carreon’s lawsuit private. This action comes just a day after she initiated her lawsuit in Manhattan, seeking unspecified damages.
Carreon alleges that Sieg engaged in ongoing sexual harassment, making inappropriate comments about their relationship in public settings and reportedly telling colleagues about a “special song” they supposedly shared. She also claims that the bank’s HR department mounted a “weaponized” campaign to force her out.
In its petition, Citigroup asserted that there is “absolutely no factual or legal basis” for Carreon’s allegations against Sieg. The bank also maintained that it has consistently admired Sieg, even during the time when Carreon claims the harassment occurred, up until he left the company on June 7, 2024.
For instance, Citigroup pointed out that Carreon had written a letter to another executive on May 29, 2024, praising Sieg’s integrity and leadership qualities, stating, “You are truly one of the greatest people and leaders I have ever met.”
The day before Carreon departed, she sent a message to Sieg and another high-ranking executive, thanking them for their efforts to improve the company culture, noting, “Today is my last day. Thank you. I can’t wait to see the great things you do.”
Carreon’s attorney, Linda Friedman, remarked that her client is a “strong person” who looks forward to addressing the matter in court. She added that Citigroup’s retaliatory lawsuit against Carreon, following her accusations of sex and racial discrimination, reflects the intimidation tactics that often target women and people of color in the workplace.
Citigroup contends that Carreon agreed to abide by the company’s arbitration policy when he was hired in 2021 and reaffirmed this agreement in 2022.
It’s noteworthy that in March 2022, former President Joe Biden signed legislation aimed at eliminating mandatory arbitration for employees who report sexual harassment, a significant step in protecting employee rights.
Sieg is a notable hire under Citigroup CEO Jane Fraser, though he is not named as a defendant in Carreon’s lawsuit. The bank also indicated that Carreon was employed in Austin during her tenure at Citigroup.
