A Citigroup trader is pushing the bank to pay out a compensation package of about $100 million for 2009, setting the path for a collision between Citi and the new U.S. pay regulator, The Wall Street Journal reports. Andrew Hall, head of Citi’s Phibro energy trading unit, wants the bank to honor the agreed pay package.
If Citi ignores the contract, Hall may quit and it might also result in a legal battle. Making any large payouts, even based on previously agreed contracts, could lead to political and investor fallout for Citi.
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