In a dramatic legal move, former Citigroup Managing Director Kathleen Martin has filed a wrongful termination lawsuit against the banking giant and its COO, Anand Selva. The lawsuit, lodged in the New York district federal court, claims that Martin was fired for refusing to provide false information to regulators.
Martin, who joined Citigroup in 2021 and was terminated in September 2023, alleges that she was instructed by Selva to conceal “critical information” from the Office of the Comptroller of the Currency (OCC). The concealed data pertained to Citi’s data governance metrics, which were under scrutiny following a 2020 consent order by the OCC addressing deficiencies in the bank’s risk management and data governance controls.
Martin’s attorney insists that she was acting in the bank’s best interests and is now seeking reinstatement along with her pay and bonuses. Citigroup, however, has dismissed the lawsuit as baseless and vowed to defend against the claims.
