The document was signed by the bank's head of markets Andy Morton and interim head of banking Peter Babej. Citigroup plans to roll back the activities in the first quarter, the memo noted, and most of its employees will leave the company. The decision comes after Citigroup's municipal offering business has drawn the scrutiny of the Texas attorney general, who in January barred the bank from underwriting most municipal bond offerings in the state on allegations of discrimination against the firearm industry. Shares of Citigroup fell 1.1% Monday morning to $49.67.