Former Citigroup broker claims she was victim of gender discrimination

Former Citigroup broker claims she was victim of gender discrimination
Adviser said she was reduced to a "glorified secretary" and fired after reporting a superior for violating insider trading rules.
NOV 21, 2016
A former Citigroup Inc. broker in New York has sued the bank claiming she was reduced to “a glorified secretary” because of her gender and fired when she reported a superior for violating rules designed to prevent insider trading. Erin Daly claims she lost the ability to make stock allocations among clients at Citi Private Bank. People with the power to distribute shares in initial public offerings “were seen as extremely valuable by clients and by other employees,” she said in a complaint filed Monday in Manhattan federal court. When she questioned in an e-mail whether her authority was taken away because she's a woman, Ms. Daly said she was reprimanded by human resources and forced to apologize. Ms. Daly, who said she worked for Citigroup from 2007 to 2014, said she was fired two weeks after reporting a supervisor who demanded she pass along protected inside information so it could be given to favored clients. Ms. Daly claimed the firm included false, negative information about her in a filing with the Financial Industry Regulatory Authority Inc. that will make it impossible for her to work in finance in the future. “We believe the claims alleged are without merit and intend to vigorously defend against them,” Citigroup spokeswoman Danielle Romero-Apsilos said Monday in an e-mail. Ms. Daly is seeking unspecified damages, including front pay and double her lost back pay. The case is Daly v. Citigroup Inc., 16-cv-09183, U.S. District Court, Southern District of New York.

Latest News

Candidly adds AI agents for Trump Accounts, workplace benefits
Candidly adds AI agents for Trump Accounts, workplace benefits

CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.

BMO adds three advisors in Dallas amid Y'all Street wealth boom
BMO adds three advisors in Dallas amid Y'all Street wealth boom

The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.

UBS moves toward full-service US bank as plans to extend wealth business
UBS moves toward full-service US bank as plans to extend wealth business

Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.

$5B broker-dealer NBC Securities has a new name after almost 30 years
$5B broker-dealer NBC Securities has a new name after almost 30 years

New name draws on founder's family history as consolidation reshapes the broker-dealer landscape.

Cerity Partners enters new market with Cordant Wealth Partners merger
Cerity Partners enters new market with Cordant Wealth Partners merger

Deal brings tech-focused planning expertise, expanded Pacific Northwest presence to national RIA platform.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.