July 10, 2014 9:39 AM ET

Capital Markets

Company Overview of Cantor Fitzgerald, L.P.

Company Overview

Cantor Fitzgerald, L.P. offers investment banking and brokerage services. The firm provides capital raising, acquisition and disposition advisory, balance sheet restructuring, and merchant banking services. Cantor Fitzgerald, L.P. was founded in 1945 and is based in New York, New York.

499 Park Avenue

New York, NY 10022

United States

Founded in 1945

Phone:

212-938-5000

Key Executives for Cantor Fitzgerald, L.P.

Chairman of The Board and Chief Executive Officer
Age: 52
Managing Director of Debt Capital Markets Mortgage Business
Chief Financial Officer
Age: 53
Senior Managing Director and Director of Global Operations
President and Chief Executive Officer of Cantor Gaming Ltd.
Age: 64
Compensation as of Fiscal Year 2014.

Cantor Fitzgerald, L.P. Key Developments

A Federal Judge Uphelds All Claims Against Cantor Fitzgerald and its Owner and Chief Executive, Howard Lutnick

A federal judge has upheld all of the key claims in a lawsuit filed against Cantor Fitzgerald and its owner and chief executive Howard Lutnick by the bankruptcy estate of former futures broker Refco Inc. The suit, filed in 2013, alleges that Cantor's Nevada gaming businesses acquired proprietary technology and other assets from a subsidiary in which Refco held a 10% stake, without ever compensating the subsidiary and depriving Refco of its interest in the assets. In an 80-page ruling on Cantor's motion to dismiss delivered 10 June, US District Judge Ronnie Abrams allowed the Refco bankruptcy estate's conversion, waste, breach of fiduciary duty, aiding and abetting claims and other claims to survive against Cantor Fitzgerald and several of its subsidiaries and executives. The named individual defendants are Cantor Fitzgerald chairman and CEO Howard Lutnick, Cantor gaming president Lee Amaitis and Cantor general counsel and Cantor Index Holdings director Stephen Merkel. Financial litigation law firm Grant & Eisenhofer is counsel for Refco's bankruptcy estate and its administrator Marc Kirschner. The firm filed suit seeks to recover compensation owed to the Refco estate under Chapter 11 of the bankruptcy code. The lawsuit contends that in 2002, Refco invested USD 8 million in Cantor Fitzgerald subsidiary, Cantor Index Holdings (CIH), in exchange for a 10% partnership interest. Over the next several years, CIH developed successful gaming technology, such as devices for remote gambling and other betting techniques. The bankruptcy estate alleges that Cantor Gaming ultimately shut down CIH and took the rights of its core assets and intellectual property for its own profit, developing valuable businesses in Nevada and elsewhere - while failing to provide any compensation to the bankruptcy estate to reflect its 10% stake in CIH. The complaint notes that Cantor defendants have repeatedly represented to regulators, analysts and the press that the technology developed by CIH and its subsidiaries in the UK was critical to the successful build-out of Cantor's Nevada operations. The bankruptcy estate's suit seeks tens of millions of dollars in compensatory and punitive damages. Following the ruling, the parties in the litigation will be required to jointly submit to the court a proposed case management plan and scheduling order, and the court has set a conference on 24 June 2014.

Cantor Fitzgerald Wealth Partners, LLC Appoints Bob Serhus as New Chief Investment Officer

Cantor Fitzgerald Wealth Partners, LLC has appointed Bob Serhus as its new chief investment officer. Mr. Serhus will focus on delivering Cantor Fitzgerald's investment offering to Cantor Fitzgerald Wealth Partners' private clients, and be responsible for monitoring investment portfolios, directing investment policies and leading a team responsible for market research, manager selection and portfolio management strategies.

Cantor Fitzgerald Faces Lawsuit over Payments for Partnership Interests

Cantor Fitzgerald has been sued by former employees alleging that they did not receive payments for partnership interests. Two former employees have sued Cantor Fitzgerald LP alleging that they did not receive payments for partnership interests. Jason Boyer, formerly head of the company's Hong Kong branch, and Bradford Ainslie, formerly equity sales and trading co-head in the same office, claimed in the lawsuit that they were denied payment for their partnership interests after leaving to join Chinese investment bank Reorient Group Ltd. in 2001. The two claim that they are entitled to payment because the company allegedly breached their partnership agreement, which caused them damage. Boyer and Ainslie allege that under their agreement with the company, Cantor Fitzgerald was required to prepare and file federal and state tax returns involving their partnership interests. Cantor Fitzgerald made mistakes involving the tax liabilities of the former employees.

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