[3] In 1914, with the advent of World War I, Siegfried Bendheim, an apprentice, German citizen, and minor partner, avoided internment by the British government by moving to New York City where he established Philipp Brothers, Inc. while Oscar Philipp continued to operate the London office as he had previously obtained British citizenship.

[8] In 1926, Ullmann traveled to South America to stake out possible sources of metals and found Bolivia to be the one country with the most potential; and Phillip Brothers summarily opened offices in the tin-mining centers of Potosi and Oruro.

[9] Experience earned in Bolivia - maneuvering through the various changes in government and dealing with a succession of administrative officials - allowed Philipp Brothers to develop a model for operating in high political risk environments which it applied globally.

[9] Using experience garnered in Bolivia via barter transactions, secured lending, and exclusive marketing contracts, Philipp Brothers became the largest metals merchant in the world in the 1960s.

Reportedly Phibro was the main source of the $2 billion in pretax revenue Citigroup received in commodities trading.

[15] In October 2009, Occidental Petroleum announced it would acquire Phibro from Citigroup, estimating its net investment at approximately $250 million.