Former Citigroup, Inc (NYSE: C) trader Andrew Hall has posted a decline of more than 10% since May, according to a Friday report from the Wall Street Journal.
Hall’s hedge fund, Astenbeck Commodities Fund II, witnessed its weakest month in more than two years. The fund is down more than 10% this year through may, well behind its peers average loss of 5%.
Hall left Citigroup, Inc (NYSE: C) in 2009 amid criticism about the company’s compensation practices. Critics said that Citigroup, Inc (NYSE: C) and other large-cap banks were paying their executives too much while they had received bailout funds from taxpayers. Citigroup, Inc (NYSE: C) sold the unit (Phibro LLC) to avoid a confrontation with the U.S. Treasury over Hall’s salary to Occidental Petroleum Corp. for $370 million.
While working at Citigroup, Inc (NYSE: C), Phibro earned an average of $371 million annually for five years before the sale was completed. Hall was paid around $100 million in 2008 by Citigroup, Inc (NYSE: C).
Citigroup, Inc (NYSE: C) shares traded up 4.23% on Friday ending at $3.94
