NEW YORK: Citigroup is investigating workplace harassment allegations made by at least one employee against a senior US banker who works on initial public offerings, four people with direct knowledge of the matter said.
Edward Ruff, a managing director in Citi’s equity capital markets group in New York, has been on leave since January, according to the people, who requested anonymity to speak freely.
The bank is probing at least two instances of alleged abusive behavior by Ruff against several subordinates on the industrials, energy and power team he runs, they added.
One incident under investigation took place on the morning of Nov. 13, when Ruff shouted insults at members of his team at the end of a meeting on the fourth floor of Citigroup’s New York headquarters, according to seven people who were either present or were briefed by attendees.
Ruff was upset about two junior bankers not being in the room when the meeting started, two of the people said. Some of Ruff’s insults were directed at the entire team, they added.
Ruff did not respond to multiple attempts to reach him by phone, text and email.
A Citigroup spokesperson declined to provide details on any investigation into Ruff.
“While we will not comment on individual internal matters, simply put, where warranted, we exit employees who fail to meet our high standards of respectful treatment in our workplace,” the spokesperson said.
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