All articles tagged with #citigroup inc
Citigroup asked a Texas federal court to compel private arbitration of Julia Carreon’s sexual-harassment claim against wealth chief Andy Sieg, arguing the allegations are fabricated and that Citi’s employment-dispute practice supports arbitration; the move comes amid a 2022 law that limits arbitration for sexual-harassment claims, and Citi cites Carreon’s messages praising Sieg to challenge her accusations.
A former Citi Wealth executive, Julia Carreon, filed a lawsuit alleging Citi subjected her to a discriminatory, sexually harassing culture and a weaponised HR process that pushed her out after she alleged harassment by Andy Sieg, Citi’s wealth chief. The complaint says HR biasedly investigated an alleged inappropriate relationship while Sieg faced less scrutiny; Citi has disputed the suit’s merit and notes an internal probe into Sieg. The case adds to scrutiny of Citi’s leadership and how women are treated within the firm.
Citigroup Inc. strategists have downgraded their outlook on the US tech sector, shifting to a more cautious stance and reducing their recommendation to market-weight from overweight, while also issuing an underweight recommendation on hardware companies. They anticipate the stock rally to broaden beyond technology and have raised their outlook on consumer discretionary to overweight.
Citigroup Inc. strategists warn that bullish investor positioning in US technology stocks could lead to a wider market rout if a selloff occurs, with wagers on declines in tech-heavy Nasdaq 100 futures completely erased. Despite a rally in US stocks and record highs in the S&P 500, caution is growing due to signals that the Federal Reserve may not cut interest rates as early as March, leading to stalled bullish trends in S&P 500 futures.