UPDATE 1-Hedge fund paid Obama adviser Summers $5.2 mln

Fri Apr 3, 2009 7:37pm EDT

(Adds details from disclosure form, background)

WASHINGTON, April 3 (Reuters) - Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million in compensation by hedge fund D.E. Shaw during the past year, according to financial disclosure forms released on Friday by the White House.

Officials from D.E. Shaw were not immediately available for comment. Summers, a former U.S. treasury secretary, was a part-time managing director of the firm after stepping down as president of Harvard University.

Summers was also paid hundreds of thousands of dollars in speaking fees from major Wall Street firms and financial institutions, including JP Morgan (JPM.N), Citigroup (C.N), Goldman Sachs (GS.N) and Lehman Brothers, the forms showed.

Summers also received significant income from Harvard University and from investments. (Reporting by Roberta Rampton; Editing by John O'Callaghan)

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