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Citigroup, which three years ago made history by appointing Jane Fraser as the first female CEO of a major US bank, has led rivals on many measures of a more equitable culture. Yet behaviour at the NY unit stands out even in an industry that struggles to make women feel welcome.
A recent expose reveals a culture of harassment and discrimination within Citigroup s equities unit in New York. Interviews with 22 insiders describe a decade-long pattern of misconduct, including ogling female colleagues, rating them by looks, and discussing sexual conquests. Complaints to HR and senior executives yielded little change, with some alleged perpetrators still employed. Citigroup, known for its efforts towards inclusivity, faces scrutiny over its handling of the situation amidst ongoing efforts to boost its equities trading revenue.