Kathleen Martin wasn't sure about leaving JPMorgan for Citi. It was late 2021, and she'd spent four and a half years at JPMorgan after a career at Morgan Stanley and GE Capital. At JPMorgan, Martin was an MD and global technology chief of staff, and her job was secure. But Citi came calling with what Martin says was represented to her as a «long-term leadership position» and she jumped.
Get Morning Coffee ☕ in your inbox. Sign up here.
That seems to have been a mistake.
As we'venoted before, Martin was fired by Citi in September 2023. She is now bringing a lawsuit against the bank, arguing that she was unfairly dismissed. Martin says she refused to follow orders from Citi COO Anand «Selva» Selvakesari, who allegedly asked her to represent Citi's data transformation effort associated with its $400m fine for data failings in 2020, as more advanced than it really was.
Citi absolutely refutes Martin's claims. In a comment issued today, the bank said: «Ms. Martin's employment was lawfully and legitimately terminated. Her claims to the contrary have no merit and we intend to defend against them in court.»
Martin's initial complaint against Citi was filed in May 2024. However, she filed an update yesterday, stressing that although Citi now has 13,000 people working in regulatory compliance, many issues have yet to be addressed.
Prior to being fired, Martin alleges that Selvakesari, who was promoted to COO in March 2023, met with her in May 2023 about a metric called “Authoritative Data Sources” (ADS) required by the consent order. Martin claims that she wanted to accurately tell the board that the bank hadn't made «substantial» progress in designating an ADS for each set of data. However, she says that Selvakesari told
Read more on efinancialcareers.com