Another Tough Year At Cantor Fitzgerald?
Traders Magazine, September 2002
Last month, Cantor Fitzgerald, the government bond and equity-trading house remembered, in all its sad detail, the 685 employees who died in the Sept. 11 tragedy. In the immediate aftermath of that tragedy, Wall Street customers and rivals alike rallied behind Cantor. It was that support, in part, that helped Cantor's profits recover in the fourth quarter. It also helped Cantor to deliver on a promise to contribute future profits into a special fund. Cantor expects this year to distribute some $25 million to grieving families of Cantor employees. But as the memory of Sept. 11 lingers, Cantor will have to depend more on gut business instincts to stay the course. It could be tough.
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