Citigroup 'boys' club' disfavors women, lawsuit claims

Mon Nov 28, 2016 7:02pm EST
 
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By Jonathan Stempel

NEW YORK (Reuters) - A former Citigroup Inc (C.N: Quote) financial adviser on Monday filed a lawsuit accusing the bank of running a "boys' club" that favored men over women, treating her as a "glorified secretary," and firing her in retaliation for whistleblowing activity.

Erin Daly is seeking double back pay, unpaid bonuses and punitive damages over the bank's alleged harassment, hostile work environment and unlawful retaliation, according to her lawsuit filed in Manhattan federal court.

The resident of Manhattan's Upper West side said Citigroup let her go less than two weeks after she complained that her manager demanded inside information from her work on restricted stock offerings, so that he could pass it to favored clients.

Daly said she also filed a complaint with the U.S. Equal Employment Opportunity Commission, and plans to add federal discrimination claims against the fourth-largest U.S. bank.

"We believe the claims alleged are without merit and intend to vigorously defend against them," Citigroup spokeswoman Danielle Romero-Apsilos said.

The lawsuit is one of many over the years accusing U.S. banks of favoring male bankers, traders and financial advisers over their female counterparts, and permitting improper conduct.

Bank of America Corp (BAC.N: Quote) in September settled one such case, in which former co-head of global structured products Megan Messina accused it of running a "bro's club."

Daly said she graduated from the University of Rhode Island in 2005, and according to brokerage industry records worked for Citigroup from 2007 to 2014.   Continued...

 
A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015.   REUTERS/Mike Segar/Files