Photo: Energetic NYC via flickr
When Cantor Fitzgerald lost 658 of its 960 employees on 9/11, it wasn’t expected to survive. The firm, which occupied space on the 101st-105th floors of One World Trade centre, also lost most of the “files, hard drives and technological capability that make a brokerage firm tick,” reports the Los Angeles Times.
But amazingly, within a week, the firm was back to trading online — thanks to companies like Microsoft, which “flew out some 50 employees to help Cantor break into the password-protected computer accounts of all the workers who were gone,” and Cisco Systems, which “sent a dozen 18-wheelers full of routers, cables and other hardware to Cantor’s office in New Jersey.”
At the same time that [CEO Howard] Lutnick was shuttling between funerals, he was also bringing on new employees to begin rebuilding Cantor. On the weekend before the memorial, Lutnick had interviewed and hired 35 people from temporary office space in midtown Manhattan.
The expansion has rarely stopped since then. Lutnick, who oversaw 2,100 employees before Sept. 11, when Cantor was known primarily for trading bonds, now oversees 4,500 employees and has grown his company into a full-service investment bank.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.