Citigroup probes wealth management chief Andy Sieg amid employee complaints.

Citigroup has engaged law firm Paul Weiss to investigate complaints against Wealth Management Chief Andy Sieg. Allegations from current and former employees accuse Sieg of intimidation and unfair treatment during his nearly two-year tenure. The investigation, initiated at the request of HR chief Sara Wechter, concluded with at least six managing directors filing complaints. Citigroup emphasizes the importance of independent investigations to ensure objectivity and avoid conflicts of interest.

Citigroup has hired law firm Paul Weiss to investigate allegations against Andy Sieg, the wealth management chief. The complaints, lodged by current and former employees, accuse Sieg of intimidating and unfairly sidelining staff since his arrival in 2023. The investigation was initiated at the request of human resources chief Sara Wechter and completed after interviews with more than a dozen individuals, including six managing directors [1].

Sieg, who was brought on by CEO Jane Fraser to drive Citigroup's turnaround, has drawn criticism for his leadership style. Allegations include expletive-filled rants, sarcastic comments, and calling an individual's work "pathetic" in front of colleagues [1]. The investigation, which concluded in July, was conducted to ensure objectivity and prevent potential conflicts of interest [1].

Citigroup has declined to comment on the outcome of the probe, and Sieg did not respond to requests for comment [1]. The bank has emphasized the importance of maintaining a professional and respectful work environment, stating that Sieg is a "hard-charging leader" who has transformed the wealth management division under his leadership [1].

The investigation comes at a time when Citigroup is experiencing significant changes, including a focus shift from a lending-oriented private bank to a mass-affluent advisory model. Under Sieg's leadership, the wealth unit has seen a record $2.17 billion in revenue during the second quarter of 2025 [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-20/citi-investigates-hr-complaints-against-wealth-head-andy-sieg