Cantor Fitzgerald: Supporting Our Families and Helping Others
The 9/11 World Trade Center attacks killed 658 of Cantor Fitzgerald’s 960 New York-based employees, our colleagues, friends, and loved ones.
In the aftermath of 9/11, we chose to work harder than ever because we wanted to help 658 families. With our commitment to give 25% of the firm’s profits for five years to the families of those who perished, Cantor has provided our families with over $180 million, and ten years’ of healthcare benefits for those that need them. Our commitment has also included legal, emotional and economic assistance. The Cantor Fitzgerald community – employees, families and friends – shares a unique understanding that binds us together.
Cantor Fitzgerald Relief Fund
On September 14, 2001, with a $1 million personal donation from Cantor Chairman, Howard W. Lutnick, the firm established The Cantor Fitzgerald Relief Fund. Mr. Lutnick and the partners of Cantor Fitzgerald underwrite 100% of the expenses of the fund in order to guarantee that every penny is paid out to family members. The Relief Fund has provided assistance to the families of World Trade Center victims, as well as victims of natural disasters around the world. For more information, please go to cantorrelief.org
An interactive memorial was dedicated to Cantor Fitzgerald, eSpeed, and TradeSpark employees lost in the World Trade Center disaster.
Cantor Fitzgerald holds a private memorial service each year on the anniversary of September 11th. Over the years, the service has been attended by thousands of family members, friends and colleagues of our lost employees.
Following the World Trade Center attacks, Cantor arranged for several top Manhattan-based law firms to provide Victims Compensation Fund legal services at a significantly discounted rate and, in some cases, free of charge. We created a comprehensive reference guide for families that provided assistance with the Victim's Compensation Fund process, aiding in the determination of the most beneficial option for each personal economic situation.
Cantor paid for an extensive economic analysis of each Cantor, eSpeed and TradeSpark employee's compensation history to support claims to the Victims Compensation Fund. We also arranged for expert and significantly discounted investment and tax advice for the families of the victims.
Cantor Fitzgerald extended its Employee Assistance Program (EAP) – a professional service that provides support through groups and counseling – to the families and friends of lost employees.
Following the events of September 11th, we hosted regular town meetings with the victims’ families in New York City, New Jersey, Connecticut and on Long Island to keep families abreast of new developments, such as those relating to the Victims Compensation Fund. We organized support groups for victims' fiancés and for wives who gave birth after September 11th, and we have hired dozens of family members of our former colleagues as full-time employees and interns.
Annual Charity Day
Beginning in 2002, Cantor Fitzgerald commemorated the employees we lost by reaching out to help others through our annual Charity Day. Continuing this caring legacy, each September 11 ( or the business day neareast September 11), Cantor and its affiliate BGC Partners, Inc. operate their business as a global Charity Day to help those less fortunate than ourselves. 100% of our revenues worldwide are donated to charities as our way of commemorating those we lost on 9/11 – totaling more than $77 million through 2011. With these funds, we can help children by investing in medical research as well as taking care of those with special needs, provide support for injured veterans, and assist medical and social service organizations around the world and assist many other humanitarian causes. Charity Day for us is very special, as it turns the most difficult day of the year into something positive and uplifting.
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