Brandon Lutnick marks the 25th anniversary of the September 11 attacks and the loss of 658 Cantor Fitzgerald employees.
Brandon Lutnick, the chairman of Cantor Fitzgerald, marked the 25th anniversary of the September 11 attacks, noting that 658 of the firm's 960 New York employees were killed when American Airlines Flight 11 struck the North Tower. The plane's impact sheared through the tower's core, collapsing the stairwells and isolating the upper floors.
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Cantor Fitzgerald occupied floors 101 through 105 of the North Tower, which were located five floors above the crash zone. Lutnick noted that his father, Howard Lutnick, survived the attacks because he was dropping off his son Kyle for kindergarten instead of going to the office. Brandon Lutnick shared that the firm lost more than two-thirds of its New York workforce. To ensure the firm's survival, Howard Lutnick pledged 25% of the firm's profits for five years and 10 years of health coverage to the families of the deceased employees. This commitment totaled $180 million. Cantor Fitzgerald resumed electronic trading within days of the attacks. Brandon Lutnick stated that the firm's responsibility is to preserve the memory of the victims as the day moves from living memory into history.
Sources
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The kindergarten drop-off that saved Howard Lutnick and the 658 who never made it home
Washington Examiner
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Cantor heir recalls family’s 9/11 losses — and the kindergarten dropoff that spared Howard Lutnick
New York Post