Big Take
Employees Describe Pattern of Harassment and Drug Use in Citigroup Unit
Mar 25, 2024
Bloomberg's Paige Smith and Max Abelson reveal a pattern of harassment and discrimination at Citigroup's equities division. They discuss the impact on employees and business, historical treatment of harassment in banking, and the fear of speaking out against misconduct on Wall Street.
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Quick takeaways
- Citigroup's equities division exhibited a pattern of harassment and discrimination, revealing cultural issues within the organization.
- The toxic culture at Citigroup impacted business results and reputation, influencing performance relative to industry competitors.
Deep dives
Citigroup Lawsuit Revelations
In November of 2023, a lawsuit filed by Citigroup executive, Artith Lindsey, accused the bank of fostering a culture of harassment and discrimination within its equities unit. This legal action shed light on the alleged issues within Citigroup's culture, prompting deeper investigation to understand the extent and longevity of such behaviors.
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