Citigroup ‘Boy’s Club’ Busted By Lawsuit Filed By Former Employee

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    A former Citigroup employee is filing a lawsuit claiming that the company is running a “boy’s club” that favors male bankers over female. Erin Daly, who worked as a financial advisor at Citigroup, was let go after her she reported that her supervisor has demanded restricted stock information from her.

    Daly said that she was treated as a “glorified secretary” at America’s fourth largest bank, and is seeking double back pay and unpaid bonuses, as well as punitive damages over the bank’s alleged harassment, hostile work environment, and unlawful retaliation. She has also filed a claim with the U.S. Equal Employment Opportunity Commission, and also plans to file federal discrimination claims to her lawsuit.

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

    But Citibank is far from the first bank to face sexist allegations. The financial sector is known to be male-dominated, and women often face much harsher conditions in that line of work. The 2013 National Business Ethics survey reported that 12% of U.S. workers have witnessed workplace discrimination in some form, but many choose not to report.

    A similar case was settled just in September. Megan Messina, the former co-head of global structured products at Bank of America, accused the bank of running a “bro’s club.” Messina was paid less than half of what her male co-head made in salary, and was suspended following complaints over activity that harmed clients, despite federally mandated whistleblower protections.

    Erin Daly graduated from the University of Rhode Island in 2005 and worked for Citigroup from 2007 to 2014. Though she claims that she performed well within the company, she said that Citigroup had stripped her of many responsibilities.

    She says that the company also once forced her to issue a formal apology for requesting equal treatment.

    Daly’s termination followed a complaint that her manager had demanded restricted information from her to benefit favored clients. She also reveled that Citibank would sometimes route stock allocations from “hot deals” to a male colleague, which advanced his career while hurting hers — otherwise known as insider trading, which is illegal.

    The case is filed as Daly v. Citigroup Inc. et al, U.S. District Court, Southern District of New York, No. 16-09183.

    Daly’s attorney could not be reached for further questions.