Thursday, October 8, 2009
Citibank Wants to Sell Off Commodities
In what may be an attempt to hide the controversy of Andrew Hall's contracted $100million bonus Citibank will try and sell one of its units. The unit in question, Phibro, is one of Citibank's most profitable businesses. Phibro is one of Citibank's in-house hedge funds and has raised over $2billion for Citibank in the past 5 years.