\n
![](\"https:\/\/content.fortune.com\/wp-content\/uploads\/2024\/02\/GettyImages-1252478336-e1707602596751.jpg?w=2048\")
<\/p>\n [ad_1]
\n<\/p>\n
Citigroup Inc.<\/a>\u00a0dealmakers were told to be disciplined when consuming alcohol at client events after the bank received complaints of unruly behavior, according to people with knowledge of the matter.<\/p>\n In calls late this week, bankers at all levels \u2014 from analysts to managing directors \u2014 were reminded to keep the firm\u2019s reputation in mind when drinking, said the people, who asked not to be identified discussing confidential information. The senior bankers leading the calls didn\u2019t put a complete curb on consumption of alcohol, noting that drinking in business settings has wide cultural acceptance, the people said.<\/p>\n A representative for New York-based Citigroup<\/a> declined to comment.<\/p>\n The stern words to Citigroup\u2019s investment bankers come as Chief Executive Officer\u00a0Jane Fraser\u00a0is working to raise standards across the Wall Street giant after years of underperformance relative to peers. Citigroup\u2019s management is cutting 20,000 roles, but has so far left investment banking less affected than other divisions.<\/p>\n Read More:\u00a0Citi to Cut 20,000 Roles in Fraser\u2019s Bid to Boost Returns<\/a><\/p>\n The bank last month\u00a0reported<\/a>\u00a0that investment-banking revenue climbed 27% in the fourth quarter from a year earlier. Still, the division had a $322 million loss, largely the result of expenses surging 37%.<\/p>\n<\/div>\n\nSubscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up<\/a> for free.<\/div>\n<\/div>\n