Cantor Fitzgerald

Cantor Fitzgerald Announces Details Of Support For Families Of Employees Lost In World Trade Center Attack

New York, October 10, 2001 - Howard Lutnick, Chairman and CEO of Cantor Fitzgerald, L.P. announced at a support group meeting of New Jersey families, that Cantor Fitzgerald will contribute to the families of lost Cantor, eSpeed and TradeSpark employees, an amount equal to 25% of the partnership's profits that would otherwise be distributed to the partners, for the next five years. This contribution is intended to support the needs of families of its employees who were lost in the World Trade Center Attack. Cantor Fitzgerald L.P.'s first use of these funds will be to pay for ten years of health care, which will cost an estimated $70 million.

"We want to be able to care for these families over the long-term, and we believe providing health care coverage for families of our lost friends and colleagues is a big part of that," said Lutnick. "Ten years of health care will provide greater peace of mind to these families."

The balance of the funds will be equally distributed to benefit all families of lost employees. The company will continue these distributions beyond five years if necessary, until each family has received at least $100,000 in cash.

"Our surviving employees and the support of our clients are what made this announcement possible," Lutnick continued. "Every Cantor Fitzgerald, eSpeed and TradeSpark employee is committed to keeping our Cantor family together. They are working around the clock to honor the memory of their lost friends and colleagues and I am convinced that this is only the beginning of what the people at this firm are capable of accomplishing together."

PDF version