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Cantor Fitzgerald
Cantor Fitzgerald, L.P. is an American financial services firm that was founded in 1945. Cantor Fitzgerald's 1,600 employees work in more than 30 locations, including financial centers in the Americas, Europe, Asia-Pacific, and the Middle East. Together with its affiliates, Cantor Fitzgerald operates in more than 60 offices in 20 countries and has more than 12,000 employees. The firm controls two publicly traded companies: the Newmark Group and BGC Group.
Before 2001, the company's headquarters were located between the 101st and 105th floors of the North Tower of the World Trade Center in New York City, just above the impact site of American Airlines Flight 11 during the September 11 attacks. 658 Cantor Fitzgerald employees who were present that day were killed, representing the largest loss of life among any single organization in the attacks.
The company was headed by Bernie Cantor from its founding to his death in 1996. From 1996 to 2025, the company was headed by Howard Lutnick, until he took the position of United States secretary of commerce in the second Donald Trump administration. Since 2025, the company has been headed by Lutnick's sons, Brandon and Kyle, who are in their 20s. During his time in the Trump administration, Lutnick has promoted projects that benefit Cantor Fitzgerald, raising conflict of interests questions. 2025 was the firm's most profitable year in its history.
Cantor Fitzgerald was formed in 1945 by Bernard Gerald Cantor and John Fitzgerald as an investment bank and brokerage business.
In 1965, Cantor Fitzgerald began "large block" sales/trading of equities for institutional customers. It became the world's first electronic marketplace for US government securities in 1972,[citation needed] and in 1983 it was the first to offer worldwide screen brokerage services in US government securities,[citation needed] becoming in time the market's premier government securities dealer. It also became known for the quality of its institutional distribution business model.[clarify][citation needed]
In 1991, Howard Lutnick was named president and CEO of Cantor Fitzgerald; he became chairman of Cantor Fitzgerald, L.P., in 1996.
Cantor Fitzgerald's corporate headquarters and New York City office, on the 101st to the 105th floors of 1 World Trade Center in Lower Manhattan (2 to 6 floors above the impact zone of American Airlines Flight 11), were destroyed during the September 11 attacks. At 8:46:46 a.m., eighteen seconds after the plane struck the tower, a Goldman Sachs server issued an alert saying that its trading system had gone offline because it could not connect with the server. Since all stairwells leading past the impact zone were destroyed by the initial crash or blocked with smoke, fire, or debris, every employee who reported for work that morning located in Cantor's offices between the 101st to the 105th floors was killed in the attacks; 658 of its 960 New York employees were killed or missing, or 68.5% of its total workforce, which was considerably more than any of the other World Trade Center tenants, the New York City Police Department, the Port Authority Police Department, the New York City Fire Department, or the Department of Defense. Forty-six contractors, food service workers, and visitors in the Cantor Fitzgerald offices at the time were also killed. CEO Howard Lutnick was not present that day, but his younger brother, Gary, was among those killed. Lutnick vowed to keep the company alive, and the company was able to bring its trading markets back online within a week.
On September 19, Cantor Fitzgerald made a pledge to distribute 25% of the firm's profits for the next five years (that would otherwise have been distributed to its partners), and committed to paying for ten years of health care for the benefit of the families of its 658 former Cantor Fitzgerald, eSpeed, and TradeSpark employees. In 2006, the company had completed its promise, having paid a total of $180 million (and an additional $17 million from a relief fund run by Lutnick's sister, Edie).
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Cantor Fitzgerald
Cantor Fitzgerald, L.P. is an American financial services firm that was founded in 1945. Cantor Fitzgerald's 1,600 employees work in more than 30 locations, including financial centers in the Americas, Europe, Asia-Pacific, and the Middle East. Together with its affiliates, Cantor Fitzgerald operates in more than 60 offices in 20 countries and has more than 12,000 employees. The firm controls two publicly traded companies: the Newmark Group and BGC Group.
Before 2001, the company's headquarters were located between the 101st and 105th floors of the North Tower of the World Trade Center in New York City, just above the impact site of American Airlines Flight 11 during the September 11 attacks. 658 Cantor Fitzgerald employees who were present that day were killed, representing the largest loss of life among any single organization in the attacks.
The company was headed by Bernie Cantor from its founding to his death in 1996. From 1996 to 2025, the company was headed by Howard Lutnick, until he took the position of United States secretary of commerce in the second Donald Trump administration. Since 2025, the company has been headed by Lutnick's sons, Brandon and Kyle, who are in their 20s. During his time in the Trump administration, Lutnick has promoted projects that benefit Cantor Fitzgerald, raising conflict of interests questions. 2025 was the firm's most profitable year in its history.
Cantor Fitzgerald was formed in 1945 by Bernard Gerald Cantor and John Fitzgerald as an investment bank and brokerage business.
In 1965, Cantor Fitzgerald began "large block" sales/trading of equities for institutional customers. It became the world's first electronic marketplace for US government securities in 1972,[citation needed] and in 1983 it was the first to offer worldwide screen brokerage services in US government securities,[citation needed] becoming in time the market's premier government securities dealer. It also became known for the quality of its institutional distribution business model.[clarify][citation needed]
In 1991, Howard Lutnick was named president and CEO of Cantor Fitzgerald; he became chairman of Cantor Fitzgerald, L.P., in 1996.
Cantor Fitzgerald's corporate headquarters and New York City office, on the 101st to the 105th floors of 1 World Trade Center in Lower Manhattan (2 to 6 floors above the impact zone of American Airlines Flight 11), were destroyed during the September 11 attacks. At 8:46:46 a.m., eighteen seconds after the plane struck the tower, a Goldman Sachs server issued an alert saying that its trading system had gone offline because it could not connect with the server. Since all stairwells leading past the impact zone were destroyed by the initial crash or blocked with smoke, fire, or debris, every employee who reported for work that morning located in Cantor's offices between the 101st to the 105th floors was killed in the attacks; 658 of its 960 New York employees were killed or missing, or 68.5% of its total workforce, which was considerably more than any of the other World Trade Center tenants, the New York City Police Department, the Port Authority Police Department, the New York City Fire Department, or the Department of Defense. Forty-six contractors, food service workers, and visitors in the Cantor Fitzgerald offices at the time were also killed. CEO Howard Lutnick was not present that day, but his younger brother, Gary, was among those killed. Lutnick vowed to keep the company alive, and the company was able to bring its trading markets back online within a week.
On September 19, Cantor Fitzgerald made a pledge to distribute 25% of the firm's profits for the next five years (that would otherwise have been distributed to its partners), and committed to paying for ten years of health care for the benefit of the families of its 658 former Cantor Fitzgerald, eSpeed, and TradeSpark employees. In 2006, the company had completed its promise, having paid a total of $180 million (and an additional $17 million from a relief fund run by Lutnick's sister, Edie).
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