Cantor Fitzgerald L.P.
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Cantor Fitzgerald L.P. is an investment bank specializing in bond trading. It was founded in 1945 by Bernie Cantor and John Fitzgerald as a limited partnership, which it remains today. It created the eSpeed electronic trading network, a subsidiary it spun off in 1999. On October 1, 2004 it spun off its inter-dealer voice brokerage business into a separate partnership BGC Partners, named for Cantor founder Bernard Gerald Cantor, in order to refocus their business on institutional sales and trading.
Its former New York office, on the 101st-105th floors of One World Trade Center, lost 685 employees in the September 11, 2001 attacks, considerably more than any other employer, including the FDNY. This represented about two-thirds of its workforce. The company was able to bring its trading markets back online within a week, and chairman and CEO Howard Lutnick, whose brother was among those killed in the attacks, vowed to keep the company viable.
Before the attacks, Cantor handled about one-quarter of the daily transactions in the multi-trillion dollar U.S. treasuries market. Cantor has since rebuilt its infrastructure and now has its headquarters in midtown Manhattan. The company's effort to regain its footing is the subject of a 2003 book titled On Top of the World: Cantor Fitzgerald, Howard Lutnick, and 9/11: A Story of Loss and Renewal (ISBN 0060510307) by Tom Barbash.
See also: One World Trade Center tenants
External links
- [Cantor Fitzgerald Web site]
- [Worst-Hit Firm Faults Fairness of Sept. 11 Aid], The New York Times, September 17, 2002
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