Vikram Pandit, chief executive of Citigroup, and John Havens, chief executive of the bank’s institutional clients group, have each received $20m (€15m) less than the money they put into Old Lane Partners, a hedge fund they sold to the bank, which was subsequently shut down, although they could get further payouts.

At the time of the Old Lane acquisition in 2007, a substantial portion of the price paid to the former owners was required to be invested in the hedge fund until July 2011, the fourth anniversary of the closing of the transaction.