Trader of Citigroup demanded 100 million dollars bonus from the bank

The most efficient oil trader of American bank Citigroup – Andrew Hall, demanded from the financial organisation to provide him at the 2009 year bonus, which could reach 100 million dollars. This is what writes, the newspaper The Wall Street Journal. Hall heads the energy brokerage unit Phibro, owned by Citigroup. According to the newspaper, the bank receives a significant portion of the profits due to Phibro, but the financial results of units was not disclosed.

Will the Citigroup Hall defend the right for a bonus, yet unknown. In any case, the attempt to retain the premium for Phibro could lead to conflict between Citigroup and the government, which since the beginning of 2009 has been leading active combat against bonuses in the financial organisation, that received government help. In particular, the United States has already passed a bill giving 90 percent tax on the bonuses in the banks benefiting from the assistance of the Government.

But Citigroup goes in favor of maintaining a lucrative bonuses for profitable traders. For example, in April 2009 when the bank received 45 billion dollars of government help, authorities of Citigroup insisted, that for Phibro had been reserved multimillion bonuses. Due to the fact, that the unit in 2008, predicted the rise in oil prices, which by mid-year rose to 147 dollars a barrel, Citigroup managed to earn several hundred million dollars. According to the newspaper, if not for Phibro, the annual loss of Citigroup in 2008 would significantly exceed 27.7 billion dollars.

Oil trader of Citigroup – Andrew Hall, is the most paid employee in the financial organization. He has a millennium castle in Germany, as well as a large mansion in Connecticut. Several years ago, Hall founded the statue at his location, with height of 80 feet (24.38 meters). The neighbors across the court made statement for demolition of the statue.

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