Howard Lutnick Comments: Cantor, BGC To Hire 500 People This Year

January 11, 2012, Bloomberg News

Cantor Fitzgerald & Co., the New York-based investment bank, and its BGC Partners unit will hire more than 500 people this year, Chief Executive Officer Howard Lutnick said.

Cantor Fitzgerald, which focuses on the mid-market, will hire about 200 people while inter-dealer broking arm BGC Partners will hire between 300 and 400, Lutnick said on Bloomberg Television today.

“These markets give us the opportunity to hire people you never thought would leave the big firms,” he said. “We are in a sweet spot.”

Securities firms cut more than 200,000 jobs last year as trading slumped and deals were pulled amid declining economic growth and the sovereign-debt crisis.