According to the Bloomberg report, Hall will focus on his hedge fund Astenback Capital Management, which he founded in 2010. The fund currently manages about $US3 billion in assets.
Hall — a lengedary oil trader — became notorious as the leader of Phibro when he demanded a $US100 million pay package from then-owner Citigroup during the financial crisis.
Phibro, which has been around since 1901, laid off some of its US-based employees today, Reuters is reporting. The firm is looking to sell some of its overseas operations, the report said. According to Reuters, some of the traders in the Westport, Conn. headquarters have been retained to help run Astenback Capital.