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Shadowy Citi Trader Demands $100M Payout

By Kevin Spak,  Newser Staff

Posted Jul 25, 2009 1:40 PM CDT
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(Newser) – Andrew J. Hall, the man who runs Citi’s shadowy energy-trading unit, is demanding the company pay him up to $100 million to honor a previously agreed-upon 2009 pay package, the Wall Street Journal reports. If Citi doesn’t pay up, Hall could walk and sue, but paying could be a political and PR nightmare, raising the ire of the government’s new pay czar.

Hall’s not your typical Wall Street suit. An avid art collector, he owns an almost 1,000-year-old castle in Germany and once tried to put an 80-foot concrete sculpture on his Connecticut lawn. He runs his secretive Phibro LLC unit from the site of a former Connecticut dairy farm. Phibro occasionally posts huge profits, and Hall is supposed to be paid accordingly. But the Treasury pay czar says TARP recipients need to prove they’re not rewarding risk-taking.

A sign for Citibank is shown at Citigroup headquarters Thursday, April 30, 2009 in New York.
A sign for Citibank is shown at Citigroup headquarters Thursday, April 30, 2009 in New York.   (AP Photo/Mark Lennihan)
In this April 17, 2009, file photo, a sign at the Citigroup Center is seen in New York.
In this April 17, 2009, file photo, a sign at the Citigroup Center is seen in New York.   (AP Photo/Mark Lennihan, FILE)
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COMMENTS
Showing 3 of 5 comments
Fondue
Jul 26, 2009 1:50 AM CDT
Exactly. And remember next time these types are not worth the paper their contract is written on.
JimW
Jul 25, 2009 8:24 AM CDT
If he is that desperate for that money and being a bitch about it, Madof comes to mind.....
brawne
Jul 25, 2009 7:33 AM CDT
The original Big Swinging Dicks. Nice to know they made it from the eighties to invent the first mortgage backed security. When the WSJ uses the words shadowy, secret and secretive you have to infer what they really mean. The word is Saloman. Or you could read Liar's Poker.

 
Citigroup • executive compensation • compensation • trader • TARP • Andrew Hall

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