A former Citigroup executive has sued the bank, alleging she was dismissed in retaliation for raising concerns about risk management practices linked to discussions over potentially taking on US President Donald Trump as a client.

According to court filings reported by the Financial Times and Reuters, the former managing director in Citi's wealth management division filed an anonymous lawsuit in Brooklyn federal court this week, claiming she was forced out of the bank in April 2025 after identifying what she described as regulatory, compliance and risk-management deficiencies. The plaintiff, identified only as Jane Doe, alleges she was targeted through a "sham" human resources investigation after escalating her concerns internally.

The complaint, which is heavily redacted, alleges that the executive questioned Citi's procedures for assessing new clients and flagged issues relating to know-your-customer checks and anti-money laundering controls. People familiar with the dispute told the Financial Times that some of those concerns arose while Citi was considering whether to open an account for Trump.

Reuters, citing a source familiar with the case, reported that the discussions involved a request for a numbered account, a structure that would restrict internal visibility of the client's identity. The source said the executive sought further information about the origin of the funds and raised questions about the proposed arrangement.

The lawsuit alleges that the former executive identified deficiencies in Citi's internal controls covering risk management, anti-money laundering, reputational risk and data compliance. The complaint states that she was fired shortly after raising concerns about taking on a new client whom sources identified as Trump.

Citigroup strongly rejected the allegations. In a statement, the bank said: "As with the other complaint filed by this plaintiff's attorney against Citi, this suit has absolutely zero merit and we'll demonstrate that through the legal process."

According to Reuters, Citi has asked the court to require the plaintiff to reveal her identity, arguing that she had publicly criticised the bank before filing suit. The bank said in a court filing that the executive was "one of a limited number of individuals with knowledge the political figures were opening accounts at Citi."

The case comes as political scrutiny of banking relationships has intensified in the United States. The Trump administration has challenged what it describes as politically motivated "debanking" and regulators have removed reputational risk considerations from supervisory guidance. Trump has separately sued JPMorgan Chase, seeking at least $5 billion in damages over claims that the bank closed his accounts because of his political views, allegations the lender denies.

Citigroup has moved to align itself with the administration's position. After Trump's return to office in January 2025, the bank amended its code of conduct to state that it "does not discriminate on the basis of political affiliation" and removed restrictions on providing services to firearms companies.

---