Word: lutnick
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...franchise," says Shawn Matthews, the chief executive of Cantor Fitzgerald & Co., the firm's investment banking subsidiary. "The dislocation in the financial markets has caused others to take the eye off the ball, allowing us to gain market share." The parent company is still headed by Howard Lutnick, who is the CEO of Cantor and chairman of a publicly traded subsidiary BGC Partners, which is 40% owned by Cantor. Lutnick was famously taking his son to his first day of kindergarten on September 11 and not in Cantor's offices when the World Trade Centers were attacked. Lutnick recently told...
...result, Cantor has been able to pick up clients, giving a big boost to its bottom line. Lutnick says his firm made more money in 2008 than ever before. He won't say how much, and since Cantor is private he doesn't have to. BGC, because it is publicly traded, does have to release its results, and officially that division lost $30 million. But exclude a one-time charge, and BGC profits come in at $105 million in 2008, up from $58 million in the year before. Analyst Michael Adams who follows BGC for brokerage firm Sandler O'Neill...
...Lutnick and the majority of Cantor's 1,200 employees have worked hard not to lose sight of the victims' families. On Oct. 1, 2001, each family received a $5,000 check and promised continuation of health benefits. Today, Lutnick's sister Edie runs the Cantor Fitzgerald Relief Fund, which has donated $185 million to the victims' families. "What we've found is it's not the money, it's that they feel that we know they exist, that we care about them, that we love them," he says. And September 11 is "charity day" - all of that...
...five years, Lutnick transformed a company that had lost more than half its employees into a success. The company has now become two - Cantor Fitzgerald, an institutional brokerage company, and Bernard Gerald Cantor, a wholesale brokerage business. In August, the Federal Reserve Bank of New York added Cantor Fitzgerald as a primary dealer permitted to trade U.S. Government Securities with the New York...
...regrets on the decisions he made post-September 11, Lutnick says he has none. "I'm so proud of what we've accomplished," he says. "Would I change a darn thing? I would not. We are here, and I don't think we can pick and choose how it worked out." He says his life is now filled with "tremendous joy," thanks to his family. His daughter starts kindergarten this year - on Sept. 11. "That's where I'll be with my wife," Lutnick says, "on my daughter's first day of big-girl school...