Cantor Fitzgerald
| Company type | Private partnership |
|---|---|
| Industry | Financial services |
| Founded | 1945 |
| Founder | Bernard Gerald Cantor, John Fitzgerald |
| Headquarters | New York City , United States |
Area served | Americas, Europe, Asia-Pacific, Middle East |
Key people | Howard Lutnick (Chairman and former CEO), Brandon Lutnick (Chairman), Pascal Bandelier (Co-CEO), Sage Kelly (Co-CEO), Christian Wall (Co-CEO) |
| Products | Institutional equity and fixed-income sales and trading, middle-market investment banking, prime brokerage, commercial real estate financing, advisory and asset management, gaming technology, e-commerce |
Number of employees | 12,500+ |
| Website | cantor |
Cantor Fitzgerald, L.P. is a US-based financial services enterprise established in 1945, focusing on institutional equity and fixed-income sales and trading, middle-market investment banking, prime brokerage, and commercial real estate financing. The firm has diversified its offerings to include advisory and asset management, gaming technology, and e-commerce, catering to a client base exceeding 5,000 institutional investors.
As one of the 24 primary dealers authorized to transact US government securities with the Federal Reserve Bank of New York, Cantor Fitzgerald holds a significant position in financial markets. The organization employs approximately 1,600 professionals across more than 30 offices spanning the Americas, Europe, Asia-Pacific, and the Middle East. Including its affiliates, it maintains over 60 locations in 20 countries with a combined workforce surpassing 12,500 employees.
Prior to 2001, the firm’s main office was situated in the North Tower of New York City's World Trade Center. The September 11 attacks resulted in the tragic loss of 658 employees—the greatest single organizational casualty that day.
Early history
Bernard Gerald Cantor and John Fitzgerald founded Cantor Fitzgerald as an investment bank and brokerage in 1945. The company was a pioneer in executing large block equity sales for institutional clients beginning in 1965. In 1972, it created the world’s first electronic marketplace for US government securities and later introduced global screen brokerage services for these instruments in 1983, solidifying its status as a leading government securities dealer.
Howard Lutnick assumed the roles of president and CEO in 1991 and became chairman in 1996. His strategic direction has driven ongoing expansion of the firm’s business model and market presence.
September 11 attacks
Cantor Fitzgerald’s offices occupied floors 101 through 105 of 1 World Trade Center in Lower Manhattan, situated above the point where American Airlines Flight 11 struck during the September 11 attacks. At precisely 8:46:46 a.m., just eighteen seconds after impact, a Goldman Sachs server detected its trading system had gone offline. Due to all stairwells beyond the crash zone being destroyed or inaccessible, every employee present that morning perished; out of 960 New York staff members, 658 (approximately 68.5%) were killed or went missing—the largest loss among tenants and first responders at the World Trade Center. Additionally, forty-six contractors and visitors located within Cantor Fitzgerald’s offices died. CEO Howard Lutnick was not at the office that day; however, his brother Gary was among those lost. Lutnick vowed to rebuild the company, which resumed its trading operations within one week.
On September 19, Cantor Fitzgerald committed to allocating 25% of its profits over five years to assist families of deceased employees and to fund their healthcare for a decade. By 2006, payments totaling $180 million had been made, supplemented by $17 million from a relief fund spearheaded by Lutnick’s sister Edie.
Before September 11, Cantor Fitzgerald handled roughly one quarter of daily transactions within the vast treasury securities market. The firm reconstructed its operational infrastructure with substantial aid from its London branch and relocated headquarters to Midtown Manhattan. This revival was chronicled in Tom Barbash’s 2003 publication On Top of the World: Cantor Fitzgerald, Howard Lutnick, and 9/11: A Story of Loss and Renewal as well as the 2012 documentary Out of the Clear Blue Sky.
On September 2, 2004, Cantor Fitzgerald joined other plaintiffs in initiating a civil lawsuit against Saudi Arabia, accusing it of financially supporting the hijackers and al-Qaeda. The Port Authority of New York and New Jersey subsequently became part of this litigation. Most allegations against Saudi Arabia were dismissed by January 2005.
In December 2013, Cantor Fitzgerald reached a $135 million settlement with American Airlines, alleging negligence that allowed hijackers to board Flight 11, causing property loss and business disruption.
Recent history
The company established its fixed-income sales and trading division in 2003. By 2006, Cantor Fitzgerald & Co. was designated as one of the primary dealers by the Federal Reserve. In 2009, the firm launched Cantor Prime Services, providing multi-asset prime brokerage solutions that integrate clearing, financing, and execution services. A year later, in 2010, Cantor ventured into the real estate sector with the creation of CCRE. Its affiliate, BGC Partners, expanded its commercial real estate offerings by acquiring assets from Newmark Knight Frank and Grubb & Ellis in 2011, leading to the formation of Newmark Grubb Knight Frank.
By the end of 2014, two analysts from Cantor Fitzgerald were ranked within the top 25 on TipRanks. The firm also led all banking institutions in underwriting special-purpose acquisition companies (SPACs) during 2018 and 2019.
In March 2016, Sage Kelly, previously with Jefferies & Co., joined as senior managing director and head of investment banking, bolstering the company’s leadership team.
Philanthropy
Edie Lutnick, sister of former chairman and CEO Howard Lutnick, authored An Unbroken Bond, with all proceeds directed to the Cantor Fitzgerald Relief Fund. This fund donated $10 million to support families affected by Hurricane Sandy, distributing prepaid debit cards to elementary school families impacted by the storm.
After the 2013 Moore tornado in Oklahoma, Howard Lutnick committed $2 million to assist victims by providing $1,000 debit card donations.
Every year on September 11, Cantor Fitzgerald and its affiliate BGC Partners dedicate 100% of their revenue to charitable efforts through their global Charity Day event. Established to aid families of employees lost during the World Trade Center attacks, Charity Day has collectively raised $192 million for charities worldwide since its inception.
Subsidiaries and affiliates
The organization manages several subsidiaries and affiliates such as:
- BGC Partners, named after founder B. Gerald Cantor—an innovator in fixed-income trading—is a global brokerage serving wholesale financial markets and commercial real estate hubs including New York and London. It encompasses Newmark Grubb Knight Frank, which ranks as the fourth-largest real estate services provider in the U.S.
- Cantor Ventures functions as the corporate venture capital and enterprise development arm under Henrique De Castro’s leadership. Its investments include delivery.com, Ritani, TopLine Game Labs, AdFin, Lucera, NewsWhip, and XIX Entertainment.
- Hollywood Stock Exchange, founded in 1996, operates as a virtual stock market focused on entertainment.
- TopLine Game Labs, headquartered in Los Angeles, creates short-duration fantasy sports and social gaming platforms designed to be platform-independent.
Chairpersons
- Bernie Cantor (1945–1996)
- Howard Lutnick (1996–2025)
- Brandon Lutnick (2025–present)
CEOs
- Bernie Cantor (1945–1991)
- Howard Lutnick (1991–2025)
- Pascal Bandelier, Sage Kelly, and Christian Wall (co-CEOs since February 2025)
Presidents
- Anshu Jain (2017–2022)