Citigroup alleges {that a} former managing director suing the financial institution was fired for efficiency causes, fairly than for what she stated had been makes an attempt by the financial institution to present regulators false data.
On Thursday, the financial institution responded to a lawsuit filed in May by Kathleen Martin, a former managing director whom Citi employed in 2021 to assist with information points. Martin stated within the swimsuit that her supervisor, Chief Working Officer Anand Selva, requested her to cover “crucial data” from the Workplace of the Comptroller of the Foreign money concerning the financial institution’s data-governance metrics.
The lawsuit alleges that Selva needed to cover data as a result of it will make the financial institution “look dangerous” and stated Martin was fired on Sept. 25, 2023, in retaliation for her complaints.
The info-governance work was associated to a 2020 OCC consent order, in line with the lawsuit.
In Citi’s submitting, the financial institution stated Martin turned interim information transformation chair when she changed her former supervisor and mentor Rob Casper, after he left the financial institution. It stated the financial institution was already coping with Martin’s efficiency points in Could 2023, earlier than the occasions that Martin alleges had been the rationale for her firing.
The financial institution additionally alleged that quickly after receiving her mid-year assessment in July 2023, Martin contacted human assets to say she thought her place was in danger. In its submitting, Citigroup stated the director “didn’t tackle the suggestions she was supplied” and the financial institution changed her within the information transformation chair position.
Martin was a part of a bunch of Citi staff which were working to adjust to 2020 consent orders by the OCC and the Federal Reserve and repair deficiencies in its danger administration, information governance and inside controls.
The financial institution was fined $136 million by the OCC final month for failing to make progress.
Martin’s lawyer, Valdi Licul from regulation agency Wigdor LLP, instructed Reuters he was happy with the financial institution’s response, saying it signaled the case has authorized benefit after the financial institution had beforehand filed a movement to dismiss the case.
Licul stated he intends to request depositions of senior Citigroup administration, together with CEO Jane Fraser. “We sit up for conducting the depositions of Ms. Fraser and Mr. Selva to point out that they fired Ms. Martin solely as a result of she complained about criminal activity,” the lawyer added.
Citigroup declined to remark past its submitting.
The case is Martin v. Citibank NA et al, U.S. District Courtroom, Southern District of New York, No. 24-03949.
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