Andrew Hall (hedge fund manager)

Andrew Hall is an English hedge fund manager who served as the head of commodities trading firm Phibro LLC and the head of his own hedge fund Astenbeck Capital.[1] In 2019, the Financial Times described him as the "most successful oil trader of his generation."[2]

For other people named Andrew Hall, see Andrew Hall (disambiguation).

Early life and education

Hall was brought up in Feltham and educated at Hampton Grammar School.[3] He has an MA in chemistry from Oxford University,[4] and an MBA from INSEAD.

Career

Upon graduation from Oxford in 1973, Hall joined British Petroleum where he served in various posts, the last as Vice President of BP North America Trading in New York.

Hall left BP and joined Phibro Energy in 1982.[5] After Hall took charge of Phibro’s energy unit in 1991, the company shifted away from moving physical cargoes and into trading paper derivatives.[6] Hall joined the Board of Directors of Salomon Inc., the parent company of Phibro in 1991. He later became CEO of Phibro in 1992.

As the head of a then subsidiary of Citigroup, Hall's compensation drew criticism about Wall Street pay in the aftermath of subprime-related bank bailouts.[7] Citigroup sold Phibro LLC to Los Angeles-based Occidental Capital for $370 million, in part due to the pay controversy.[8] Hall earned about $100 million in 2008. Also in 2008, while still at Citigroup, he launched Astenbeck Capital Management, a hedge fund which raised more than $3.0 billion.[9]

In 2017, Hall announced the closing of Astenbeck Capital Management's main fund.[10]

Art collection

Andrew Hall and his wife Christine are internationally renowned art collectors.[11] In 2007, he and his wife Christine Hall founded The Hall Art Foundation, whose mission is to make available postwar and contemporary art works from its own collection and that of the Hall family for the enjoyment and education of the public.[12] The Hall Art Foundation operates two museum spaces in Derneburg, near Hannover, Germany[13] and in Reading, Vermont.[14] The Hall Art Foundation also has an exhibition partnership with the Massachusetts Museum of Contemporary Art, in North Adams, Massachusetts[15] and collaborates with other public institutions around the world to organize exhibitions and facilitate loans from its own collection and that of the Halls.

References
  1. "Commodities Star Absorbs Loss ," The Wall Street Journal, June 25, 2010
  2. David Sheppard (April 5, 2019), The $100m oil trader Andy Hall finally sticks his oar in Financial Times.
  3. The Lion, Hampton Grammar School Magazine (Autumn Term 1968) pp 52-7
  4. "Commodities Star Absorbs Loss ," The Wall Street Journal, June 25, 2010
  5. Gregory Meyer (February 2, 2015), Rise and fall of a commodities powerhouse Financial Times.
  6. Gregory Meyer (February 2, 2015), Rise and fall of a commodities powerhouse Financial Times.
  7. "Citi trader Andrew Hall fights for $100m bonus ," The Telegraph (UK), July 25, 2009
  8. "Citi in $100 Million Pay Clash," The Wall Street Journal, July 25, 2009
  9. "Ex-Citigroup Trader Hall Raises $1 Billion for Commodities Fund," Archived June 26, 2010, at the Wayback Machine Bloomberg Businessweek, June 22, 2010
  10. Alison Sider and Rob Copeland (August 3, 2017), Oil Trader Andrew Hall Is Closing His Astenbeck Hedge Fund The Wall Street Journal.
  11. "About the Hall Art Foundation" Hall Art Foundation, June 2, 2015
  12. Art collectors who turn obstacles into opportunities, Financial Times, 26 May 2017
  13. "Step Inside the Hall Art Foundation's New Home", Architectural Digest, 1 November 2017
  14. "Olafur Eliasson brings the Hall Art Foundation back to nature", The Boston Globe, 16 May 2014
  15. "Massachusetts Museum of Contemporary Art, North Adams, Massachusetts", Financial Times, 31 August 2015
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