Cantor Fitzgerald
A privately held global financial-services firm and broker-dealer known for institutional trading, investment banking, asset management, and its history at the World Trade Center.
Last updated October 14, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Cantor Fitzgerald is an American financial services firm founded in 1945 by Bernard Gerald Cantor and John Fitzgerald. It began as an investment bank and brokerage business and developed a major presence in institutional securities, particularly the trading and distribution of United States government securities. The firm pioneered large-block equity trading for institutional customers in 1965, introduced an electronic marketplace for U.S. government securities in 1972, and later expanded screen-based government-securities brokerage internationally. Cantor Fitzgerald became one of the best-known primary dealers and institutional intermediaries in the Treasury market. It is also associated with electronic trading through eSpeed, a platform that became publicly traded in 1999, and with a broader group of financial and real-estate businesses operated through affiliates. Its activities have included fixed-income sales and trading, investment banking, equity research, prime brokerage, asset management-related services, commercial real estate, corporate venture investing, and special-purpose acquisition company underwriting. The firm’s history was profoundly shaped by the September 11, 2001 attacks. Its headquarters occupied floors 101 through 105 of the North Tower of the World Trade Center, directly above the aircraft impact zone. Every employee who was present in those offices that morning was killed; 658 Cantor Fitzgerald employees were among the victims, along with contractors, visitors, and service workers. Chief executive Howard Lutnick was absent from the office, while his brother Gary Lutnick died in the attack. Lutnick committed to rebuilding the business, and Cantor restored its trading operations within approximately a week, aided in part by its London office and other surviving operations. Following the attacks, Cantor pledged a share of future profits to the families of the deceased employees and funded health-care coverage for affected families. The firm and its affiliated businesses also established an annual Charity Day on September 11, during which revenue is donated to charitable organizations. The event expanded from a memorial initiative into a global fundraising program supporting disaster relief, health, education, and other causes. Cantor expanded its business after 2001. It launched a dedicated fixed-income sales and trading group in 2003, was designated a Federal Reserve primary dealer in 2006, and introduced Cantor Prime Services in 2009. Its real-estate activities grew through Cantor Commercial Real Estate and through affiliates connected with BGC Partners and Newmark. The wider corporate network has included publicly traded BGC Group and Newmark Group, while Cantor Ventures has invested in technology, media, consumer, and entertainment companies. Cantor remains a private financial-services brand with international operations and a significant institutional-market orientation. Its businesses serve professional investors, corporations, governments, financial institutions, and other wholesale-market participants. The firm is particularly identified with government-securities dealing, electronic brokerage, investment banking, and its post-September 11 philanthropic and memorial work. In 2025, Howard Lutnick left day-to-day leadership after becoming U.S. secretary of commerce, with leadership transferred to members of the Lutnick family and a management structure that included Brandon Lutnick as chair and Pascal Bandelier, Sage Kelly, and Christian Wall as co-chief executives. Cantor Fitzgerald & Co. is the principal U.S. broker-dealer associated with Cantor Fitzgerald, L.P., a privately held financial-services group founded in New York in 1945 by Bernard Gerald Cantor and John Fitzgerald. The firm began as an institutional securities business and became particularly important in the market for U.S. government securities and other fixed-income instruments. Over time, its activities broadened to include equities, investment banking, sales and trading, research, asset management, and related financial-services businesses. Cantor Fitzgerald is historically associated with the development of electronic and technology-enabled trading in government securities. Its institutional model served large investors, corporations, financial institutions, and public-sector clients rather than retail consumers. The group later expanded internationally and developed affiliated businesses in areas including investment banking, asset management, private equity, real estate, insurance, and capital-markets services. Cantor Fitzgerald & Co. remains a regulated broker-dealer, while many of the group's other activities are carried out through separate affiliates. The firm was headquartered on the 101st through 105th floors of One World Trade Center in New York on September 11, 2001. The North Tower was struck by American Airlines Flight 11, and all of the employees present in Cantor Fitzgerald's offices were killed. The disaster caused the deaths of 658 Cantor Fitzgerald employees, together with 46 employees of the affiliated eSpeed business, according to the company's historical account. Howard W. Lutnick, the group's chairman and chief executive, survived because he was taking his son to school that morning; his brother Gary, who worked at the firm, died in the attacks. After September 11, Cantor Fitzgerald rebuilt its operations from temporary locations, including offices in New York, New Jersey, and London. The recovery was supported by the firm's electronic-trading infrastructure, distributed operations, and affiliated businesses. Its rebuilding effort and employee-support program became a central part of the company's public identity. The Cantor Fitzgerald Relief Fund was established to support families affected by the attacks and later broadened its charitable work to disaster relief and other causes. In the years following the attacks, the group continued expanding its capital-markets franchise and pursuing acquisitions and new business lines. It has remained privately held and is not itself a publicly traded company. Its brand is used across a family of related entities, so the precise legal entity providing a service can differ by jurisdiction and product. Cantor Fitzgerald & Co. should therefore be distinguished from affiliated businesses such as BGC Group, Newmark, and other companies that have been associated with the wider Cantor Fitzgerald group but operate as separate legal entities.
History
Cantor Fitzgerald was established in 1945 by Bernard Gerald Cantor and John Fitzgerald as an investment bank and brokerage firm. Its early business centered on securities intermediation, but the company later developed a particularly strong position in institutional trading and U.S. government securities. In 1965, it introduced large-block equity sales and trading for institutional clients. In 1972, it created what is described as the first electronic marketplace for U.S. government securities, and in 1983 it became an early provider of worldwide screen-based brokerage in that market. Bernie Cantor led the business for decades. Howard Lutnick joined the firm’s senior leadership and became president and chief executive officer in 1991. He became chairman after Cantor’s death in 1996. Under Lutnick, the firm invested in electronic trading and related market infrastructure. Its eSpeed electronic bond-trading platform became publicly traded in 1999, helping establish a separate technology and marketplace dimension to Cantor’s business. The company’s New York headquarters were located on floors 101 through 105 of the North Tower of the World Trade Center. On September 11, 2001, American Airlines Flight 11 struck the tower below Cantor’s offices. The impact and resulting destruction made escape impossible for employees in the affected floors. A total of 658 Cantor employees present in New York were killed or missing, and 46 contractors, visitors, and service workers in the offices also died. Howard Lutnick was not in the building, but his brother Gary was among those killed. Lutnick pledged to preserve the firm and support the victims’ families. Cantor committed 25 percent of profits for five years to families and agreed to provide health-care support for a decade. By 2006, the company reported completing the principal commitment with $180 million distributed, supplemented by funds raised through a related relief effort. The company rebuilt its trading systems, relying partly on surviving international operations, and resumed market activity within about a week. Its recovery became the subject of books and the documentary Out of the Clear Blue Sky. The post-attack period also brought extensive litigation and public-relief activity. Cantor joined a civil action against Saudi Arabia in 2004 over alleged support for the hijackers and al-Qaeda, although most claims were dismissed in 2005. In 2013, the firm settled its claims against American Airlines for $135 million. Cantor’s relief organization later provided assistance after Hurricane Sandy and the Moore, Oklahoma tornado. Its annual Charity Day, held on September 11, directs revenue from Cantor and affiliated businesses to charitable causes around the world. Operationally, Cantor launched a fixed-income sales and trading group in 2003 and was added to the Federal Reserve Bank of New York’s primary-dealer list in 2006. Cantor Prime Services was introduced in 2009 to provide multi-asset prime-brokerage, clearing, financing, and execution services. The firm entered commercial real estate through Cantor Commercial Real Estate in 2010, while affiliate BGC Partners expanded its real-estate activities through acquisitions involving Newmark Knight Frank and Grubb & Ellis. Cantor has also participated actively in investment banking and SPAC underwriting. Sage Kelly joined the firm in 2016 as senior managing director and head of investment banking. The firm was reported to have led the banking sector in SPAC underwriting activity in both 2018 and 2019. Its wider affiliate network has included BGC Group, Newmark Group, Cantor Ventures, the Hollywood Stock Exchange, and other technology and entertainment investments. In 2025, Howard Lutnick left the firm’s leadership after becoming U.S. secretary of commerce in the second Donald Trump administration. Brandon Lutnick became chairman, while Pascal Bandelier, Sage Kelly, and Christian Wall were identified as co-chief executives. Reporting also raised questions about possible conflicts between Lutnick’s public responsibilities and initiatives that could benefit his family’s financial interests. The company remains an active private financial-services firm with operations serving institutional and wholesale-market clients across multiple regions. Cantor Fitzgerald was established in New York in 1945 by Bernard Gerald Cantor and John Fitzgerald. It developed as an institutional securities firm, with a particular reputation in U.S. government securities and fixed-income markets. Unlike a conventional retail bank, its business was oriented toward professional market participants, including institutional investors, financial institutions, corporations, and public-sector clients. The firm became associated with the modernization of securities trading through the use of technology and electronic execution. Its market-making and brokerage activities were conducted through Cantor Fitzgerald & Co., while affiliated entities developed additional businesses. This structure allowed the broader group to operate across capital markets, investment banking, asset management, real estate, insurance, and other financial-services fields. Cantor Fitzgerald's most consequential historical event occurred on September 11, 2001. Its offices occupied several upper floors of One World Trade Center, then known as the North Tower. American Airlines Flight 11 struck the tower below the firm's offices, trapping employees above the impact zone. The resulting collapse killed 658 Cantor Fitzgerald employees and 46 employees of eSpeed, an affiliated electronic-trading company, according to Cantor Fitzgerald's own historical materials. Howard Lutnick, who led the company, was away from the building while taking his son to school; his brother Gary was among those killed. The attacks destroyed the firm's principal office and caused an extraordinary loss of personnel. Cantor Fitzgerald nevertheless restarted its business within days using surviving communications systems, remote operations, and temporary offices. The firm rebuilt its institutional franchise from New York, New Jersey, London, and other locations. Its ability to resume trading became a prominent example of operational continuity after a catastrophic event. The company also created the Cantor Fitzgerald Relief Fund to provide financial assistance to the families of employees who died in the attacks. The fund later expanded into disaster relief and charitable work supporting victims of other emergencies. This philanthropic activity, together with the firm's annual charity events, became a major part of Cantor Fitzgerald's public profile. During the 2000s and 2010s, the wider Cantor Fitzgerald group broadened its activities through new businesses, acquisitions, and affiliated companies. Some businesses associated with the group later became independent public companies or operated under distinct corporate names. BGC Group and Newmark, for example, have had important historical links to the wider group but should not be treated as the same legal entity as Cantor Fitzgerald & Co. Today, Cantor Fitzgerald & Co. is best understood as the U.S. broker-dealer at the core of a privately held global financial-services organization. Its activities include institutional brokerage, fixed-income and equities trading, investment banking, research, and capital-markets services. The brand remains strongly associated with government-securities expertise, electronic trading, institutional finance, resilience after September 11, and charitable support for disaster victims.
- 2025
Leadership passes to the next generation
[1]Howard Lutnick leaves firm leadership after becoming commerce secretary; Brandon Lutnick becomes chairman and a co-CEO structure is announced.
- 2016
Sage Kelly joins investment-banking leadership
[1]Sage Kelly joins Cantor as senior managing director and head of investment banking.
- 2013
Settlement with American Airlines
[1]Cantor settles litigation connected with losses arising from the September 11 destruction of its offices.
- 2010
Real-estate business begins expansion
[1]Cantor begins building a commercial real-estate business through Cantor Commercial Real Estate.
- 2009
Cantor Prime Services introduced
[1]The firm launches a multi-asset prime-services platform combining clearing, financing, brokerage, and execution capabilities.
- 2006
Designated a Federal Reserve primary dealer
[1]Cantor Fitzgerald & Co. is added to the Federal Reserve Bank of New York’s primary-dealer list.
- 2003
Fixed-income sales and trading group launched
[1]Cantor establishes a dedicated fixed-income sales and trading group during its rebuilding period.
- 2001
September 11 attacks destroy New York headquarters
[1]The firm loses 658 employees and numerous contractors and visitors when its World Trade Center offices are destroyed.
- 2001
September 11 destruction of the World Trade Center office
[2]The attacks destroy Cantor Fitzgerald's principal offices and kill hundreds of employees.
- 2001
The firm begins rebuilding
[2]Cantor Fitzgerald resumes operations from temporary and distributed offices and begins rebuilding its institutional trading business.
Products and positioning
A technology-oriented institutional financial intermediary combining wholesale brokerage, government-securities expertise, investment banking, and affiliated capital-markets and real-estate businesses. A relationship-driven institutional broker-dealer and investment bank with a strong fixed-income and electronic-trading heritage, operating within a diversified private financial-services group.
Brokerage · 1945
Institutional brokerage
Cantor Fitzgerald’s institutional brokerage business serves professional investors and other wholesale-market participants. The firm is historically associated with large-block equity transactions, institutional distribution, and intermediation across securities markets. Its model emphasizes execution, market access, research, and relationships with institutional clients rather than consumer financial products. Cantor Fitzgerald & Co. provides execution, sales, trading, and market access services for institutional clients. The business is designed for professional investors and counterparties rather than retail banking customers, and it operates across major securities markets through the firm's broker-dealer platform.
Fixed income · 1972
U.S. government securities
Government-securities dealing is one of Cantor Fitzgerald’s defining capabilities. The firm pioneered electronic and screen-based trading in U.S. government securities and became a major dealer in the Treasury market. Its activities include sales, trading, distribution, and market-making for institutional customers and other eligible counterparties.
Capital markets · 2003
Fixed-income sales and trading
Cantor’s fixed-income business provides sales and trading services across debt-market products, with a particular historical strength in government securities. The dedicated fixed-income group launched in 2003 as part of the firm’s post-September 11 rebuilding and broader institutional-market expansion.
Investment banking
Investment banking
The investment-banking business provides capital-markets and advisory services to corporate and institutional clients. It has included equity and debt offerings, strategic advice, research support, and underwriting activity. Cantor has also been active in special-purpose acquisition company underwriting, particularly during the high-volume SPAC market of 2018 and 2019. Through Cantor Fitzgerald and related group entities, the organization offers investment-banking and capital-markets services. These can include corporate finance, underwriting, strategic advice, and transactions involving public and private companies, although the responsible legal entity may vary by mandate and jurisdiction.
Prime brokerage · 2009
Cantor Prime Services
Cantor Prime Services was introduced as a multi-asset platform for prime brokerage, clearing, financing, and execution. It was designed to use the firm’s institutional infrastructure across multiple asset classes and to serve professional trading firms, hedge funds, and other market participants.
Financial technology and execution · 1972
Electronic trading platforms
Electronic trading has been central to Cantor Fitzgerald’s identity since its early government-securities systems. Its eSpeed platform provided electronic bond trading and became publicly traded in 1999. The firm’s technology orientation supports automated market access and electronic execution for institutional markets. Cantor Fitzgerald has a long association with technology-enabled trading and electronic market infrastructure, especially in institutional fixed-income markets. Electronic systems complement the firm's sales and trading personnel and support execution, pricing, liquidity, and market connectivity.
Real estate finance and services · 2010
Commercial real estate services
Cantor expanded into commercial real estate through Cantor Commercial Real Estate and related affiliates. The wider network became connected with BGC Partners and Newmark, which provide brokerage, advisory, and other real-estate services in major markets.
Capital markets
Fixed-income securities
Fixed-income trading is a foundational part of the Cantor Fitzgerald franchise. The firm has historically been associated with U.S. government securities and related institutional markets, using sales, trading, market-making, research, and electronic-execution capabilities to serve professional clients.
Controversies
2025
Conflict-of-interest questions involving Howard Lutnick’s government role
After Howard Lutnick became U.S. secretary of commerce, reporting and commentary questioned whether government initiatives promoted during his tenure could benefit his family and Cantor-related financial interests. The issue concerns potential conflicts between public office and private-sector relationships; the available material does not establish a legal finding of wrongdoing.
Marketing campaigns
- 2013Moore tornado relief
United States
Following the Moore, Oklahoma tornado, Howard Lutnick pledged assistance for affected families through the relief fund. The reported $2 million contribution was distributed to families through prepaid debit cards.
Outcome. The reported $2 million contribution was distributed to families through prepaid debit cards.
- 2012Hurricane Sandy relief
United States
The Cantor Fitzgerald Relief Fund provided assistance to families affected by Hurricane Sandy and adopted 19 elementary schools in impacted areas. Families received prepaid debit-card assistance, with reported total relief funding of $10 million.
Outcome. Families received prepaid debit-card assistance, with reported total relief funding of $10 million.
- 2005Charity Day
International
Cantor Fitzgerald's annual Charity Day uses the firm's trading relationships and participation by public figures to raise money for charities and disaster-relief organizations.
Outcome. The event became a recurring fundraising initiative and a prominent part of the firm's corporate identity.
- 2002Annual Charity Day
Global
Cantor Fitzgerald and affiliated businesses donate their revenue on September 11 to charitable organizations, commemorating employees lost in the attacks. The event became an annual global fundraising initiative supporting disaster relief, health, education, and community causes.
Outcome. The event became an annual global fundraising initiative supporting disaster relief, health, education, and community causes.
- 2001Cantor Fitzgerald Relief Fund
United States
Created after September 11, the relief fund initially focused on supporting families of Cantor Fitzgerald and eSpeed employees who died in the attacks. It subsequently broadened its remit to disaster relief and charitable support. Created after the September 11 attacks to support families of Cantor Fitzgerald employees who died and to provide broader disaster assistance. The relief effort distributed substantial financial support to affected families and later expanded into wider charitable programs.
Outcome. The relief effort distributed substantial financial support to affected families and later expanded into wider charitable programs. The fund became a continuing philanthropic platform associated with the Cantor Fitzgerald group.
Brand decisions
2025
Leadership transition following Howard Lutnick’s government appointmentOtherBackground
Howard Lutnick became U.S. secretary of commerce and therefore left the firm’s operating leadership.
Action taken
Brandon Lutnick became chairman, while Pascal Bandelier, Sage Kelly, and Christian Wall took co-chief executive roles.
Aftermath
Cantor continued under next-generation family and professional management, amid public scrutiny concerning possible conflicts of interest.
2009
Launch of Cantor Prime ServicesProduct launchBackground
Cantor sought to extend its clearing, financing, brokerage, and execution capabilities beyond its traditional fixed-income franchise.
Action taken
The firm introduced a multi-asset prime-services platform for professional trading clients.
Aftermath
The launch broadened Cantor’s institutional offering into prime brokerage and related market infrastructure.
2001
Decision to rebuild after September 11StrategyBackground
The destruction of the World Trade Center headquarters killed most employees working in the New York office and severely disrupted the firm.
Action taken
Howard Lutnick committed to keeping Cantor Fitzgerald operating, rebuilding systems and offices, and supporting victims’ families through profit-sharing and health-care commitments.
Aftermath
The firm restored trading activity within about a week and later expanded its post-attack businesses.
Profit contribution pledged to victims’ families. 25% of firm profits for five years (2001–2006)
2001
Rebuild the business through distributed operationsStrategyBackground
The destruction of the firm's World Trade Center offices and the loss of most employees present there created an existential operational crisis.
Action taken
Cantor Fitzgerald restarted trading from temporary and geographically distributed locations, relying on surviving systems, personnel, and affiliated operations.
Aftermath
The firm reconstructed its institutional brokerage and capital-markets platform and continued operating as part of the wider Cantor Fitzgerald group.
1972
Launch of an electronic U.S. government-securities marketplaceProduct launchBackground
Traditional government-securities dealing was largely conducted through voice and relationship-based brokerage.
Action taken
Cantor introduced an electronic marketplace for U.S. government securities, establishing an early technology-led position in fixed income.
Aftermath
The initiative helped define Cantor as an electronic and institutional-market specialist.
Recent events
RedHill Biopharma announces pricing of public offering[6]
Reported:
RedHill Biopharma announced pricing of an underwritten public offering of 4.7 million American Depositary Shares for gross proceeds of $15.5 million before offering expenses. The offering closing was expected on or about November 23, 2021, subject to customary conditions.
Cantor Fitzgerald and Hamilton Zanze announce Norterra Canyon sale[7]
Reported:
A joint venture between a Cantor Fitzgerald Investors subsidiary and Hamilton Zanze announced the sale of Norterra Canyon Apartments, a 426-unit property in North Las Vegas. Cantor Fitzgerald said it facilitated the sale on behalf of one of its Delaware statutory trust offerings.
Sanara MedTech announces pricing of public offering[8]
Sanara MedTech announced the pricing of an underwritten public offering of 1,100,000 common shares at $25.00 per share. The offering was expected to close on February 17, 2021, subject to customary conditions.
VolitionRx prices $20 million public offering[9]
Reported:
VolitionRx announced the pricing of an underwritten public offering of 3,809,524 common shares for gross proceeds of approximately $20 million, subject to customary closing conditions. The offering was expected to close on or about February 12, 2021.
Ur-Energy prices public offering of shares and warrants[10]
Reported:
Ur-Energy announced pricing for an underwritten public offering of 14,722,200 common shares and accompanying warrants at a combined price of $0.90 per share and warrant. Closing was expected on or about February 4, subject to customary conditions.
Cantor Fitzgerald reports job cuts amid coronavirus crisis[11]
Reported:
Cantor Fitzgerald reportedly made job cuts in its capital markets and commercial real estate businesses, with additional cuts expected in coming weeks. The company said it had made headcount and cost reductions to position the firm for uncertain macroeconomic conditions.
Hamilton Zanze acquires Tribeca Apartments[12]
Reported:
Hamilton Zanze acquired the 160-unit Tribeca apartment community in St. Louis, Missouri, from Lux Living, partnering with an affiliate of Cantor Fitzgerald in the acquisition. Management transitioned to HZ affiliate Mission Rock Residential.
Hamilton Zanze completes purchase of Rivertop Apartments[13]
Reported:
Hamilton Zanze, in partnership with Cantor Fitzgerald, completed the purchase of the Rivertop Apartments in Nashville on October 4, 2019.
Sources15 sources
- 1Cantor Fitzgeralden.wikipedia.org
- 2Cantor Fitzgerald: Our Historycantor.com
- 3Cantor Fitzgerald Leadershipcantor.com
- 4Cantor Fitzgerald Relief Fundcantor.com
- 5Cantor Fitzgerald Charity Daycantor.com
- 6RedHill Biopharma宣布公开发行定价prnewswire.com
- 7Cantor Fitzgerald 与 Hamilton Zanze 宣布出售 Norterra Canyon 公寓prnewswire.com
- 8Sanara MedTech宣布公开发行定价dallassun.com
- 9VolitionRx为2,000万美元公开发行定价prnewswire.com
- 10Ur-Energy确定股票及认股权证公开发行价格finanznachrichten.de
- 11Cantor Fitzgerald据报道在新冠疫情期间裁员therealdeal.com
- 12Hamilton Zanze 收购 Tribeca Apartmentsprnewswire.com
- 13Hamilton Zanze 完成收购 Rivertop Apartmentsprnewswire.com
- 14Cantor plans hundreds of job cutsinvestmentnews.com
- 15Coronavirus takes toll on Cantor Fitzgerald forcing job cutsfoxbusiness.com
Cite this profile: Cite the canonical profile. /brand-wiki/cantor-fitzgerald · Editorial policy · How profiles are compiled