Citi has a new women's advocate: it's that hard-driving Andy Sieg

12 March 2026

3 minute read

Andy Sieg, the head of wealth at Citi, is an interesting figure. Feted for getting things done and for driving change in Citi's wealth business, Sieg is popular with CEO Jane Fraser who personally visited his home to hire him. However, Sieg has also been the subject of complaints by senior Citi women who claim he's subjected them to "expletive filled rants" and shared secret songs. Both Citi and Sieg have steadfastly denied any wrongdoing. This is good, because Sieg has now been chairing women's events for the bank.

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Financial News reported today that Sieg hosted a fireside chat with tennis player Chris Evert for a Citi women's history event. Posting about the chat on his LinkedIn page, Sieg said Evert's conversation taught him that: “What champions do, when their backs are to the wall, they find a way to win. They know they’ve got to change, take risks, play outside the box."

At least one female colleague at Citi agrees. Natalya Alexei, an MD in Citi's private bank who was hired by Sieg from Silicon Valley Bank in October 2025, said she was honoured to attend the talk between Sieg and Evert, and that it had made her reflect upon her own career journey.

Sieg's conversation has not gone unnoticed on Wall Street Discriminates, the site where women anonymously share stories about perceived wrongdoing on Wall Street. Various posts purporting to be from women at the bank have observed the "irony" of Sieg running a women's day event following complaints against him and the departure of senior women like Ida Liu, the global head of private banking who is now at HSBC.

Citi declined to comment. The bank said previously that it thoroughly investigated all the allegations against Sieg. That investigation was undertaken by law firm Paul Weiss whose chairman recently resigned. The Financial Times claimed in October that Paul Weiss completed the investigation without interviewing some of the women involved.

Sieg's was not Citi's only women's initiative. Posting on Instagram, the bank said it "comes together" every March to celebrate female agility and leadership.

Sieg's wife, Heliane Steden, is a tennis player and Sieg may therefore know Evert personally as a result.

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AUTHORSarah Butcher

Global Editor

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Irina Klym
6 April 2026
As a woman, mother and shareholder, I feel confident in Andy’s leadership and Jane’s foresight. Let’s get real. Running a business is not a popularity contest. Andy treats his colleagues and subordinates likes adults and holds them accountable which is what we want. Performance driven culture with no handouts virtue of gender.
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Sultan
18 March 2026
Ida Liu is just a talking head taking credit that doesnt belong to her.... go Andy!!!
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Calliope
15 March 2026
At a networking event today, this "situation" was discussed. We are here to show support for the women at Citi. This is just ridiculous.
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IYKYK
15 March 2026
I was at a networking event this evening where I spoke about this situation. Needless to say, people were shocked by how either tone-deaf or brazen it was. I tend to believe it was the latter. I encouraged the women, especially, to go home and make comments here because women's rights are under assault in every corner of the globe and if we don't start to push back, we will be in a world of hurt.
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JaniceJ
15 March 2026
I’m a client of Citi and honestly cannot believe what I’m seeing right now. The optics are unbelievable. At a time when there are serious questions swirling around Andy Sieg and the bank chooses to center him in a women’s event? Are you kidding me? It sends a very clear message: Citi is apparently willing to p*ss off half the population to protect one man. I don’t know who in leadership signed off on this, but the lack of judgment is astonishing. Any woman watching this unfold can see exactly what it says about priorities inside that organization - and it’s not flattering. If this is what passes for inclusion and leadership at Citi, they should not be surprised when clients finally get up and leave. We probably should have done that when they unceremoniously flushed out Ida Liu, who is simply extraordinary.
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