(Reuters) -Citigroup has hired law firm Paul Weiss to investigate complaints about the behavior of the bank’s wealth management chief, Andy Sieg, Bloomberg News reported on Wednesday, citing people with direct knowledge of the matter.
The complaints accused Sieg “of intimidating and unfairly sidelining employees”, the report said. Reuters could not immediately verify the report.
Sieg did not respond to Reuters requests by phone, LinkedIn and email for a comment. Spokespeople for Citi and Paul Weiss did not immediately respond to Reuters requests for comment.
Bloomberg cited Citi spokesperson Mark Costiglio who said in a statement it was a “standard practice” for the bank to engage an outside law firm to probe allegations against a senior member of the management team “to ensure independence and prevent even the appearance of a possible conflict of interest”.
Costiglio did not immediately respond to a Reuters request for comment.
Sieg joined Citi as the head of wealth management from rival Bank of America in September 2023.
(Reporting by Manya Saini in Bengaluru; additional reporting by Lananh Nguyen in New York; Editing by Arun Koyyur)
Comments