Former President Barack is reportedly set to be paid $1.2m for a series of speeches to major Wall Street firms, less than a year after he left the White House.

Earlier this year, Mr Obama attracted criticism from several Democratic senators when it was revealed he was to speak at a September conference organised by financial services company Cantor Fiztgerald.

Now, it has been reported that in addition to the speech he is due to give next week, the former president has already been paid $800,000 for two speeches he delivered to Wall Street firms - Northern Trust Corp, which he spoke to last month, and an address last week to the Carlyle Group.

Bloomberg News said the former president will be speaking at a three-day event organised by Cantor Fitzgerald for current and prospect clients, where he will make remarks and take questions.

Howard Lutnick, CEO of the company, which lost more than 600 staff during the 9/11 attacks, told the news organisation: “Everybody would like to come. Hopefully, we will really talk about the Affordable Care Act in interesting and nuanced ways, which I think is really cool.”

Hillary Clinton, the woman whom Mr Obama hoped would succeed him in the White House, found herself under intense criticism during the 2016 presidential election campaign over speeches she gave to Wall Street firms, after she stepped down as secretary of state.

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Reports said she made a total of 92 speeches to banks, financial services organisations and suchlike between 2013 and 2015, earning up $21.6m in two years but also opening her up to criticism from rivals such as Bernie Sanders and Donald Trump who claimed she was an elitist who was out of touch with the concerns and interests of ordinary voters.

In October 2013, she was paid $225,000 - her standard fee - to speak at Goldman Sachs “Builders and Innovators” conference, held at the Ritz Carlton Dove Mountain Resort in Marana, Arizona.

The series of speeches to Wall Street firms does not represent the first time Mr Obama has earned a speaking fee since leaving the White House. In April, he received $400,000 for a 90-minute conversation with presidential historian Doris Kearns Goodwin at New York’s Pierre Hotel, at an event organised by A&E Networks, a cable network.

Barack Obama's best moments in the White House Show all 11 1 /11 Barack Obama's best moments in the White House Barack Obama's best moments in the White House May 19, 2009 “The President was leaving the State Floor after an event and found Sasha in the elevator ready to head upstairs to the private residence. He decided to ride upstairs with her before returning to the Oval Office,” Peter Souza Barack Obama's best moments in the White House Oct. 26, 2012 President Barack Obama pretends to be caught in Spider-Man's web as he greets the son of a White House staffer in the Outer Oval Office Peter Souza Barack Obama's best moments in the White House “A National Security staffer, Carlton Philadelphia, brought his family to the Oval Office for a farewell photo with President Obama. Carlton’s son, Jacob, softly told the President he had just gotten a haircut like President Obama, and asked if he could feel the President’s head to see if it felt the same as his.” Peter Souza Barack Obama's best moments in the White House March 21, 2010 The President, Vice President and senior staff applaud after watching on television the House vote on H.R. 4872 for health care reform, in the Roosevelt Room of the White House Peter Souza Barack Obama's best moments in the White House Dec. 3, 2009 President Barack Obama fist-bumps custodian Lawrence Lipscomb in the Eisenhower Executive Office Building following the opening session of the White House Forum on Jobs and Economic Growth Peter Souza Barack Obama's best moments in the White House Sept. 22, 2015 "The Obama family and Biden family greet Pope Francis as he arrives in the United States for the first time at Joint Base Andrews," Sept. 22, 2015. Peter Souza Barack Obama's best moments in the White House Feb. 21, 2014 President Barack Obama and Vice President Joe Biden participate in a "Let's Move!" video taping on the Colonnade of the White House, Feb. 21, 2014 Peter Souza Barack Obama's best moments in the White House Feb. 18, 2016 President Barack Obama watches First Lady Michelle Obama dance with 106-Year-Old Virginia McLaurin in the Blue Room of the White House prior to a reception celebrating African American History Month, Feb. 18, 2016 Peter Souza Barack Obama's best moments in the White House Jan. 21, 2013 "The President and First Lady wave to supporters as they ride in the inaugural parade. I had asked the President if I could ride in the presidential limousine and the President joked, 'But Michelle and I were planning to make out," Jan. 21, 2013. Peter Souza Barack Obama's best moments in the White House Barack Obama and former First Lady Michelle Obama share a private moment in a freight elevator at an Inaugural Ball, January 2009 all pics: Pete Souza Barack Obama's best moments in the White House Barack Obama rests his hand on the bible that President Lincoln used for his swear-in, being held by his wife Michelle Obama as he is sworn in as the 44th President of the United States of America Rex

Kevin Lewis, a spokesman for Mr Obama, told Bloomberg News that since leaving office, he had given speeches “true to his values.”

“His paid speeches in part have allowed President Obama to contribute $2m to Chicago programmes offering job training and employment opportunities to low-income youth,” Mr Lewis said.

Yet some have questioned Mr Obama’s actions. Earlier this year, when it emerged he would be appearing the Cantor Fitzgerald event, Mr Sanders, the Vermont senator, said it was “unfortunate” the former president had agreed to take part.

“I think it just speaks to the power of Wall Street and the influence of big money in the political process,” he said.

Senator Elizabeth Warren said she was “troubled by” the speaking fee. “I was troubled by that,” she told a radio station.

Mr Obama has not always had a close relationship with Wall Street. In 2009, he attacked bankers for their role in the global financial crisis.