Bloomberg Intelligence Citi Investigated HR Complaints Against Wealth Head Sieg
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Aug 20, 2025 Citigroup is facing scrutiny as it hires a law firm to investigate HR complaints against its wealth-management chief, Andy Sieg, raising concerns about leadership practices. Meanwhile, Lowe's expands its portfolio with a significant acquisition to enhance its standing in contractor services. TJX's unexpected financial growth highlights how discount retailers are adapting to shifting consumer habits. On the retail front, Target appoints a new CEO to tackle challenges and improve customer experiences during economic uncertainty.
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Wealth Head Faces Behavioral Probe
- Citigroup hired Paul Weiss to investigate complaints about Andy Sieg's management behavior toward senior women.
- Sieg improved wealth unit profitability while facing multiple complaints about intimidating conduct.
Specific Incidents Of Intimidation
- Todd Gillespie recounts reported expletive-filled rants and a managing director reduced to tears after public berating.
- He cites directives excluding Ida Liu from important correspondence before her sudden departure.
Gendered Nature Of Complaints
- Complaints centered especially on treatment of senior female executives, including Ida Liu and current direct reports.
- The departures and exclusions raised alarm about internal culture despite business gains.