Cantor to boost US revamp with voice spin-off LONDON 3RD EDITION

Mr [Lee Amaitis] said yesterday that since September 11 Cantor had focused in the US on institutional equity broking but was now ready to rebuild the separate wholesale voice broking business. "Creating BGC is a way to differentiate ourselves," he said. Cantor Fitzgerald, which occupied se...

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Bibliographic Details
Published inThe Financial times (London ed.)
Main Author ALEX SKORECKI and JENNY WIGGINS
Format Newspaper Article
LanguageEnglish
Published London (UK) The Financial Times Limited 18.08.2004
Subjects
Brokers
September 11 terrorist attacks-2001
Spinoffs
Terrorism
LONDON and NEW YORK
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Summary:Mr [Lee Amaitis] said yesterday that since September 11 Cantor had focused in the US on institutional equity broking but was now ready to rebuild the separate wholesale voice broking business. "Creating BGC is a way to differentiate ourselves," he said. Cantor Fitzgerald, which occupied several of the top floors of the World Trade Center in New York, was the hardest hit of all Wall Street firms by the terrorist attacks of 2001, which killed more than 650 of its staff. Cantor pulled out of voice broking in the US, although it continued in London and other cities. Cantor will make an undisclosed initial investment in BGC and be backer for its trades. The name has been chosen in honour of B Gerald Cantor, who founded the firm in 1945. The spin-off takes effect from October 1.
ISSN:0307-1766