Citi has defended its wealth head, who is under investigation into bullying allegations, after hiring a law firm to probe the claims. The bank’s decision comes amid growing concerns over workplace culture and misconduct.
A source close to the matter said that Citi was taking the allegations “very seriously” and would cooperate fully with the investigation. However, details about the nature of the allegations and the findings so far remain unclear.
The news follows a recent report by FT, which exposed widespread bullying and harassment in the financial industry, including at Citi. The article highlighted numerous cases of employees being subjected to verbal abuse, exclusion, and retaliation.
Citi has faced increasing pressure from regulators and clients alike over its handling of workplace issues. As part of its probe, the bank is reviewing its policies and procedures to prevent similar incidents in the future.
The investigation into the bullying allegations comes as Citi seeks to rebuild trust with its employees and customers after a string of high-profile scandals. The bank’s leadership has emphasized the importance of creating a safe and respectful work environment for all staff members.
Despite the probe, Citi’s wealth head remains in their role, pending the outcome of the investigation. The bank’s decision to hire a law firm to conduct the probe suggests that it is taking the allegations seriously and is committed to addressing any wrongdoing.
As the investigation unfolds, Citi will continue to work towards restoring its reputation and regaining the trust of its stakeholders.
Source: https://www.ft.com/content/52d796bc-f636-4692-94f0-7b78ba4506b7