https://www.bloomberg.com/news/articles/2025-08-20/citi-investigates-hr-complaints-against-wealth-head-andy-sieg?utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=linkedin&embedded-checkout=true
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The most secular bank in history, may as well be the Bank of Israel.
This is drama to demonstrate high standards of Citi HR and ethics practices. Numerous unethical practices have been covered up in the last decade which are known to Head of HR, Legal and the current CEO as well. This involves Anand Selvakesari side stepping ethical conduct on multiple occasions to cover up and block ongoing investigations. HR was just a puppet in the hands of Anand and now HR is playing the game of fairness. Citi's leadership does not live by a code of conduct that they have outlined.
@fa Totally agree. In Citi Wealth, there are countless Director-level folks who literally have been at the bank for 20 years and are just so utterly toxic to the culture. Most of these folks aren’t in any client or revenue generating roles. And, they all try to ruthlessly manage up (subordinates be damned) as they realize their shot at a sympathy—or as I say “lifetime achievement”—MD promotion fades.
What’s especially hilarious—or, more accurately, sad—about Sieg is that, when he started at Citi, he quickly identified this issue. Go look it up—he was publicly quoted as saying that Managers at Citi Wealth are too worried about managing up with the implication that this is driving a toxic culture (true) and thus undercutting performance (also true).
Two years later, Sieg now embodies the exact cultural ill he sought to ostensibly cure.
There will be those who say, “Well, he’s driving better performance at Citi Wealth and, for this, tolerating a bully is worth it.
My counter: There are so many Mid and Executive level leaders across corporate America that show up to work everyday and are undoubtedly demanding, but lead with grace and respect—and still drive performance. When you can have a person like that, why would you ever hire an Andy Sieg?
I suppose Jane Fraser only knows the answer to that question.
@f4 do tell
Always bring hummus it's a crowd fave
Anyone who acts like a di-k is just pathetic. Why do we put up with toxic people?
They shouldn't have a platform no matter how much money they bring in.
Its a reflection on who hires people like this, especially at these levels when rumours are heard.
If the whole refused to listen to him, he would be put of job. So, next time, lets stop rewarding bad behaviour and call these people out!
I did it once to a Tech Director and she was shocked. But I never had an issue with her again.
@f4 any hints ?
His potluck contribution near the holidays are amazing
@f4 spill the tea!!!
Anyone who has ever been anywhere near Citi in its head office at C15 and above will know the toxic culture. It’s why their share price has been in the sh----r since 2008.
AJIT SEQUEIRA next. He’s a vile man.
@a2 Bigger one coming that will roll some heads
@bd Last year ~22 employees from legal desk joined Bank of Montreal after the desk head, Naz Vahid, quit. She was ~40 years at Citigroup and left because of concerns about how Sieg treated colleagues. {Link pasted below} (https://nypost.com/2025/08/20/business/citi-wealth-chief-andy-sieg-made-male-executive-cry-in-front-of-colleagues/)
Andy himself publicly praised Naz and her desk/team as the best in the industry and after that sidelined her.
There are so many d-mb bankers at Citi PB. They always pitch cr-p. So much dead wood where they needs to cut the old team. Previous leadership spent too much time on social media and cnbc. The fact people are coming after him means he is doing a good job.
Andy was brought in to change and transform/restructure the business. It was like a falling building before hand and horrible leadership ship. And people are upset at change so they complain. He should fire more people. Merrill breeds top executives. Someone is causing trouble to hide their weak abilities b
@b0 honestly using the word pathetic at that level of seniority is quite calm and the fact someone complained about it is even worse.
@b0 it’s definitely more, probably some strong evidences, otherwise HR would have dismissed it or have used internal investigation etc. They are probably trying to avoid a lawsuit.
Change is needed but the mass cartel kind of replacements never rewards and lot of these cohorts will jump the ship at the first sign unlike folks who were loyal to Citi and stayed during tough times.
I read the article. Seems like a je-k but nothing egregious. Presumably this leak was the worst. …
Calling someone pathetic? Yeah don’t see it
Clearly he’s ruffling feathers. But hey I guess we needed change?
@av Nice post. Attacks two creeps at once. Love your “weave”
Andy Sieg has a bad rep. He’s likely going to be RIF’d. Employees of Citi rejoyce! Also some of those he ousted are going to get paid again.
So I really want Trump to cut the work days to, you know, 14 hours. Not 20. I mean, here’s an example, they looked at his schedule last week when he went up to Alaska. And he was seen doing interviews, and getting on and off airplanes and things in a 35-hour period. And every hour or so, he was doing some interview, or talking to officials, and doing meetings and events. It looks like he didn’t sleep. You can’t do that at 50. You can do it at 20. You sure as he-l can’t do it at 79,” argued Jones. “And as more evidence of that, let me just go ahead and hit this now. I see this headline and I go, let me go actually watch him say this, and sure enough he did. And I know some of the inside baseball that really hasn’t been talked about. Yeah, and you see a little swelling there. If you pull up the ankles from Alaska, they’re — this a straight on shot? They are big. They are swollen. I mean, they are like really big. I mean they look like, my neck’s 19 and a half inches, about like that. His ankles look like they’re about 15 inches around. That’s not a good sign for the heart, and the rest of the body, because the rest of him, he’s lost weight, he’s not that fat.
@a4 Getting in talent by revenue generating is different than promoting non-performers due to nepotism by non-revenue generating or threats of intimidation etc. that's been levelled against Sieg per the article. There must have been a reason why Tyler was not given the top job and Vis was brought in from outside to try and increase business. It's natural for a long tenured person like him to bring in people he's worked with at his old firm or his peers from that time to fulfil the mandate given to him - his job and reputation depends upon it. At that level, everyone knows everyone else in banking and your reputation sticks to you
Citi Wealth is a broken organization. Pre-Andy sieg, there was a toxic culture across the mid-layer of the organization. Disappointing to see that the guy hired to clean it up has only exacerbated it, but this time at the highest levels of the org. It’s sad it takes MDs complaining for this to get the attention of the Board, but it has been rampant for years.
Citi Wealth at this point should be sold and spun out of Citi.
@a3 same is going on in banking
https://www.efinancialcareers.com/news/vis-raghavan-hire-from-jpmorgan-citi
Nothing will happen even if there is truth and merit to any of the complaints. Sidelining others after a reorg to promote nepotistic buddies of the new boss is not uncommon at Sh!tty. In fact, probably is the norm. Data org is a prime example of this. One step above that and former alma mater of TR has been paid to deploy an army of PwC consultants and no one knows what they do exactly beyond fancy decks.
@a1 First Anand’s lawsuit and now this. HR probably acted only to avoid another lawsuit.
Video link- watch till end
https://www.bloomberg.com/news/videos/2025-08-20/citi-video