Citi Sues Ex-Bankers, Saying They Took Client Info to BMO (1)

Citibank NA accused two private bankers of illegally taking client information when they left Citibank to work for competitor BMO Wealth Management.

John A. Mitchell and Benjamin C. Carr likely took or retained confidential and proprietary information “relating to Citi and its clients and are using it at BMO,” Citibank and Citigroup Global Markets Inc. said in a complaint filed in the US District Court for the Northern District of California.

The wrongly misappropriated information the company said the bankers took relates to the cash positions and products held by Citi clients they formerly served, including information relating to the ...