Our Pillars

No other Wall Street institution has a story like ours.
Our company was founded upon six core pillars:

Exceptional Talent and Entrepreneurialism

We recruit and hire exceptional talent to ensure our clients receive unparalleled service with a customized approach. We’re passionate about the continued growth and development of our employees so they can take their careers to the next level.

Continuous Innovation

We’re an innovation company. Why? Because more than 75 years of experience has taught us that the next 75 years belong to those who not only invest in but invent the future. Our commitment to fueling continuous innovation – both for ourselves and our clients – keeps us at the cutting edge of finance, where we deliver smarter, more personalized financial services to our clients.

Experienced Leadership

Howard W. Lutnick, Cantor Chairman & CEO, has been at the helm for more than three decades, making him one of the most experienced leaders on Wall Street. His visionary approach, relentless drive to succeed, and commitment to supporting the community in which we work and live carries through the organization.

Resilience and Perseverance

Not only have we persevered through every market fluctuation over the past seven decades, but we’ve built a global financial services powerhouse in the wake of unprecedented hardship. In 2001, we tragically lost 658 of our 960 New York-based colleagues in the 9/11 World Trade Center attacks. Due to the unwavering dedication, determination and ingenuity of our employees, we stand stronger now more than ever before.

Genuine Philanthropy

Philanthropy has long been a pillar of our ethos, but it was amplified by the devastating events of September 11th, 2011, when 658 colleagues perished in the World Trade Center Attacks. The Cantor Fitzgerald Relief Fund was established as a response to the tragic event, but its genesis spawned our larger culture of dedication to supporting those in need. Since its creation, the Relief Fund has raised over $300 million and has expanded to support victims of terrorism and provide disaster relief. On Charity Day – created to commemorate our lost colleagues- both Cantor Fitzgerald and BCG Group donate 100% of their revenues to Relief Fund charities.

Surpassing Client Expectations

For almost 80 years, we’ve been a formidable part of financial services in the United States and abroad. The firm’s longevity is testament to our commitment to strengthening and maintaining client bonds beyond transactions – our goal is to exceed their needs and expectations.

Employees in a conference room

Our
History

2024

BGC Group announces that 10 global investment banks and market making firms join them in the creation of FMX to launch premier U.S. treasury and U.S. interest rate futures trading marketplace.

2023

Howard W. Lutnick celebrates his 40th anniversary at the firm, making him one of the longest-standing CEOs on Wall Street.

BGC Partners completes its corporate conversion to a full C-corporation, changes its name to “BGC Group, Inc.,” and switches its Nasdaq ticker symbol to “BGC.”

2021

Cantor Fitzgerald and its affiliates host their annual Charity Day to commemorate the 20th anniversary of 9/11.

2020

Cantor Fitzgerald celebrates its 75-year anniversary.

2019

Cantor Fitzgerald remains the top-ranked bank on Wall Street for SPAC underwriting for the second year in a row.

2018

BGC Partners Announces Completion of Spin-Off of Newmark Group.

2017

Cantor Fitzgerald hires Anshu Jain to be President of Cantor Fitzgerald & Co. Howard W. Lutnick and Anshu Jain make a series of strategic hires to expand and grow Cantor Fitzgerald’s Fixed Income, Investment Banking, Equities and Prime businesses.

Newmark Group announces IPO.

2015

BGC Partners successfully acquires control of GFI Group Inc. and subsequently sells its Trayport business to Intercontinental Exchange, Inc.

2014

BGC makes unsolicited proposal to acquire GFI.

2013

BGC Partners sells eSpeed to Nasdaq.

Cantor Fitzgerald becomes a Primary Dealer in Ireland.

2012

BGC Partners continues real estate services consolidation by acquiring the assets of Grubb & Ellis, a national commercial real estate firm.

2011

BGC Partners enters the real estate brokerage market and acquires Newmark & Company Real Estate, Inc., a leading commercial real estate services firm.

2010

Cantor Fitzgerald Investment Advisors is launched.

2009

Cantor Fitzgerald establishes its Prime Brokerage Services group.

2008

BGC Partners, L.P. merges with eSpeed, Inc. to form BGC Partners, Inc. BGC Partners goes public and is listed on NASDAQ.

2006

Cantor Fitzgerald becomes a primary dealer for the US. Federal Reserve.

Howard W. Lutnick pays a total of $180m to the families impacted by 9/11, 25% of all Cantor Fitzgerald profits over five years.

2004

Cantor Fitzgerald spins out a portion of its voice brokerage business to form BGC Partners L.P.

Cantor Fitzgerald and its affiliates host their first Annual Charity Day to turn the tragedy of 9/11 into charitable giving.

2001

Cantor Fitzgerald tragically loses 658 of its 960 New York-based employees in the 9/11 World Trade Center attacks.

Howard W. Lutnick announces a plan to rebuild Cantor Fitzgerald and assist the impacted families by donating 25% of all company profits to them over a 5-year period and paying for their healthcare for 10 years.

1999

eSpeed becomes publicly traded.

1996

Cantor Fitzgerald launches its fully electronic trading platform, eSpeed.

Howard W. Lutnick is named Chairman of Cantor Fitzgerald.

1991

Howard W. Lutnick is named CEO and President of Cantor Fitzgerald.

1983

Howard W. Lutnick joins Cantor Fitzgerald as a Fixed Income analyst.

1972

Cantor Fitzgerald becomes the world’s first screen-based marketplace for US Government Securities.

1965

Cantor Fitzgerald begins offering large volume equities trading for institutional investors.

1945

Cantor Fitzgerald was founded by Bernard Gerald Cantor and John Fitzgerald as a bond brokerage firm.

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Executive Leadership

Howard W. Lutnick

Chairman and Chief Executive Officer

Stephen Merkel

Executive Vice Chairman
Executive Managing Director
General Counsel

Lori Pennay

Senior Managing Director
Global Head of Human Resources
Chief Employment Counsel, the Americas

Danny Salinas

Senior Managing Director
Chief Financial Officer

Howard W. Lutnick

Howard W. Lutnick

Chairman and Chief Executive Officer

Howard W. Lutnick is Chairman and CEO of Cantor Fitzgerald, L.P., one of the world’s leading financial services firms, Chairman and CEO of global brokerage and financial technology company BGC Group, Inc., and Chairman of Newmark Group, Inc., a world leader in commercial real estate services.

Mr. Lutnick joined Cantor Fitzgerald in 1983 and rose rapidly through the ranks to be appointed President and CEO in 1991. Five years later he was named Chairman. In 2004, Cantor Fitzgerald separated out its voice brokerage business to create BGC Partners L.P. In 2008, Mr. Lutnick led the merger of BGC and eSpeed, forming BGC Partners, Inc. In 2011, BGC completed its acquisition of Newmark, and subsequently invested heavily in the growth of the commercial real estate services business. Newmark completed its IPO in 2017 and the Spin-Off from BGC in 2018.

Following the tragic losses suffered on September 11th, 2001, which included the loss of his brother Gary Lutnick, Mr. Lutnick rebuilt the firm and dedicated himself to supporting the families of the Cantor Fitzgerald employees lost that day. In the days after the attack, he launched The Cantor Fitzgerald Relief Fund which committed $180 million to the 9/11 families over 5 years as well as healthcare coverage over 10 years. The Relief Fund is still active today and looks to aid victims of terrorism, natural disasters, and other emergencies.

Since 9/11, Mr. Lutnick has been recognized as a symbol of resilience, and his story has been widely covered by top financial publications. Mr. Lutnick was named The Financial Times’ Person of the Year in 2001 and Ernst & Young’s United States Entrepreneur of the Year in 2010. In 2023, Mr. Lutnick celebrated his 40th anniversary at the Firm, making him one of the longest-standing CEOs on Wall Street.

Mr. Lutnick is a member of the Board of Directors of the National September 11 Memorial & Museum, the Partnership for New York City, Weill Cornell Medicine, the Horace Mann School, and the Board of Overseers of the Hoover Institution. Mr. Lutnick is a recipient of the highest honor granted to non-military personnel by the Navy: the Department of the Navy’s Distinguished Public Service Award.

Mr. Lutnick is a graduate of Haverford College and holds a degree in economics.

Stephen Merkel

Stephen Merkel

Executive Vice Chairman
Executive Managing Director
General Counsel

Stephen Merkel is Executive Managing Director, General Counsel and Secretary of Cantor Fitzgerald, L.P. He joined the firm in 1993 and oversees all legal and compliance globally for the firm. He is also Executive Vice-President, General Counsel and Secretary of BGC Group, Inc. Previously, he was the Director, Senior Vice-President, General Counsel and Secretary of eSpeed.

Prior to joining Cantor Fitzgerald, Mr. Merkel was Vice-President and Assistant General Counsel at Goldman Sachs & Co., dedicated to the J. Aron Division. He began his career at Paul, Weiss, Rifkind, Wharton and Garrison.

Mr. Merkel graduated with a B.A. Magna Cum Laude from the University of Pennsylvania and received his law degree from the University of Michigan School of Law.

Lori Pennay

Lori Pennay

Senior Managing Director
Global Head of Human Resources
Chief Employment Counsel, the Americas

Lori Pennay is a Senior Managing Director and Global Head of Human Resources and Chief Employment Counsel for the Americas for Cantor Fitzgerald, L.P., overseeing all Human Resources functions globally, and employment law in the Americas, for the firm.

Previously, Ms. Pennay served as a Vice President and Assistant General Counsel, providing legal advice and representation to Cantor and BGC Group with respect to employment and partnership matters. Before this, Ms. Pennay worked as Employment Counsel for Credit Suisse Securities (USA), LLC, where she was primarily responsible for providing legal advice and representation for the private banking and certain back-office divisions. She began her career as an employment lawyer with the law firm of Akin Gump Strauss Hauer & Feld, LLP.

Ms. Pennay holds a B.A. from Pennsylvania State University with high distinction honors and a J.D. from the University of Pennsylvania Law School.

Danny Salinas

Danny Salinas

Senior Managing Director
Chief Financial Officer

Danny Salinas is a Senior Managing Director and Chief Financial Officer of Cantor Fitzgerald L.P. As CFO, Mr. Salinas is responsible for financial operations, including accounting, finance, regulatory reporting, treasury, financial planning and analysis, as well as taxation, risk management, and investor relations.

Mr. Salinas is a seasoned veteran with over 20 years of experience. Prior to joining Cantor, he held various executive positions for over a decade at TD Bank Group, most recently as Chief Financial Officer in TD Securities. Mr. Salinas also practiced as a tax attorney at Simpson, Thacher & Bartlett, where he advised on strategic corporate transactions. He began his career at Deloitte & Touche, where he received his CPA.

Mr. Salinas holds FINRA Series 27 and 79 licenses. He earned a J.D. from Georgetown University, where he graduated magna cum laude, and a B.S. in accounting from Rutgers University.