Ardith Lindsey suing Citigroup slams firm’s – Business News
A Citigroup govt suing the bank for sexual harassment has slammed the Jane Fraser-led lender’s investigations unit as “HR’s internal hit squad,” in keeping with a report.
Ardith Lindsey made the bombshell claims in an interview with the Financial Times on Wednesday, alleging that the Citi Security and Investigative Services (CSIS) — staffed with ex-FBI brokers and prosecutors — twisted her confidential statements for use in opposition to her after she reported death threats from a supervisor.
“Citi’s CSIS operates as HR’s internal hit squad, highly trained to protect the firm at employees’ expense,” the banker was quoted as saying by the FT.
Ardith Lindsey made her bombshell claims in an interview with the British newspaper the Financial Times on Wednesday. Facebook/Ardith Lindsey
The British newspaper reported that present and former staff have echoed her issues, saying CSIS probes result in retaliation or pressured exits when staffers raise misconduct flags.
A Citi spokesperson mentioned the lender “takes seriously our responsibility to look into concerns raised about conduct within the bank. These situations are inherently challenging for those involved, and we approach them with professionalism, integrity, and empathy.”
“Our Security and Investigative Services team consists of highly experienced professionals whose responsibilities include supporting Citi disaster response efforts, protection for colleagues around the world, and looking into certain concerns about colleague behaviour along a clearly laid-out set of guidelines,” they added.
Lindsey’s 2023 lawsuit accuses Citi of fostering a “pervasive” tradition and “notoriously hostile” atmosphere of sexual harassment and gender discrimination in its equities division.
The saga underscores Wall Street’s post-#MeToo reckoning, with Lindsey’s lawsuit drawing additional scrutiny of Citi’s office atmosphere.
She detailed years of abuse from Mani Singh, her former boss in Citi’s equities group, who resigned in November 2022 and is no longer registered with any financial firm, in keeping with his profile on FINRA, a US financial companies watchdog.
Lindsey’s 2023 lawsuit accuses Citi of fostering a “pervasive” tradition and “notoriously hostile” atmosphere of sexual harassment and gender discrimination in its equities division. Christopher Sadowski
Lindsey alleged that he subjected her to a few years of his more and more unstable misbehavior, typically fueled by alcohol or medication, together with alleged threats to destroy her profession and popularity if she resisted his advances.
After ending their relationship, Singh allegedly texted her threats like “going to set you on fire” and “Your children will have no future with [a] S–t like you,” in keeping with her grievance. He will not be a defendant within the case.
Four staff, talking on situation of anonymity with the British outlet, described being grilled by CSIS on delicate points like discrimination and assault, with three saying it backfired.
Scotland-born CEO Jane Fraser is main a turnaround of the bank to spice up income and overhaul its construction. REUTERS
Two flagged compliance lapses, solely to face swift probes or firings. One was terminated a day after her interview; one other endured a baseless inquiry into a colleague relationship, believing it was payback.
“It’s always two on one, two CSIS people against one individual,” mentioned one former Citi worker, who was quoted by the Financial Times. “All it says is, ‘We’re meeting with you about a confidential matter. Please do not disclose to anyone, even your manager.’”
In Lindsey’s case, Citi cited her statements to defend itself publicly and legally, claiming she described the connection as consensual.
Lindsey, a 15-year veteran of the firm who rose by the ranks to managing director, additionally alleged an early assault by a senior supervisor who forcibly kissed her at age 24.
The saga underscores Wall Street’s post-#MeToo reckoning, with Lindsey’s lawsuit drawing additional scrutiny of Citi’s office atmosphere. Getty Images
She mentioned her interview got here simply days after she reported the threats to human sources in November 2022, in keeping with the courtroom filings.
Lindsey additionally alleged that her employer rejected her requests for counsel during her CSIS interview or a assembly abstract afterward.
Citi suspended Singh within hours of Lindsey’s report of his allegedly abusive habits. He would resign later that month.
Her lawsuit prompted Citi’s markets head Andy Morton to ship a company-wide memo that urged all employees to talk up:
“No colleague should ever be discriminated against or harassed,” he wrote within the November 2023 missive.
But earlier this yr, a former managing director mentioned she was pressured out after being sexually harassed by prime Citi govt Andy Sieg, who oversees the bank’s wealth management unit and is one of the bank’s prime executives.
In a grievance filed in January in Manhattan federal courtroom, Julia Carreon, who was world head of platform and experiences, mentioned Sieg initially supported her and helped her receive a promotion quickly after beginning his job in October 2023.
A seperate lawsuit from a former managing director accused prime govt Andy Sieg of harassment. Citi says the grievance “has absolutely no merit.” Getty Images
But he shortly started a “campaign of unrelenting and egregious sexual harassment, manipulation, and grooming.” Both Citi and Sieg have strongly denied the allegations.
Echoing Lindsey’s claims, she alleged that the bank’s “weaponized” human sources division then started its own marketing campaign to drive her out, “consistent with HR’s perpetuating Citi’s decades-long history of bias and harassment against women,” till she left in June 2024.
But the bank hit back in a later legal submitting, stating that Carreon “voluntarily resigned from Citi to pursue a new venture” and that repeatedly praised Sieg’s management model in emails.
“Andy’s leadership is the best thing to happen to this place,” the submitting quotes an electronic mail from Carreon as saying.
The Citi spokesperson informed The Post: “This lawsuit has absolutely no merit and we will demonstrate that through the legal process.”
Citigroup is the third-largest US bank by belongings and the biggest led by a lady. Sieg is one of chief govt Jane Fraser’s highest-profile hires
Fraser, within the prime job since March 2021, is main an overhaul of the lender with a view to boosting income and a “high-performance environment” as half of her strategy to rework, simplify, and modernize the bank.
