Ramesh Menon, head of the US structured investment group at Citigroup, is suing the bank, claiming it has discriminated against him on racial grounds. He is seeking at least $138m (€114m) in damages.

Menon, a naturalised US citizen of Indian birth and origin, claims the bank has underpaid him, denied him promotions which went to less qualified white male colleagues, and demoted him when he complained about his treatment.