Early Life and Education
Howard William Lutnick was born on July 14, 1961, in Long Island, New York. He was the second son of Solomon and Jane Lutnick. His father was a history professor, and his mother was a painter and sculptor. He attended Jericho High School and graduated from Haverford College in 1983 with a degree in economics. Lutnick's parents died of cancer before and during his college years, which led to him receiving a full scholarship at Haverford.
Rise to Success
Lutnick's career began in 1983 when he joined Cantor Fitzgerald, a financial services firm, where he was mentored by the firm's founder, B. Gerald Cantor. He quickly ascended within the company, becoming President and CEO in 1991 and Chairman in 1996. Lutnick played a key role in the company's expansion. In 2004, he separated Cantor Fitzgerald's voice brokerage business to form BGC Partners. He was also instrumental in the 2008 merger of BGC Partners and eSpeed.
Key Business Strategies
Lutnick is known for his strategic vision and his ability to drive growth through innovation and acquisitions. He invested heavily in technology, establishing the electronic trading platform eSpeed. This focus on technology enabled the rebuilding of Cantor Fitzgerald after the September 11 attacks. Additionally, he has focused on acquisitions as a growth strategy, including the merger with eSpeed and the acquisition of Newmark.
Philanthropy
After the September 11 attacks, Lutnick established the Cantor Fitzgerald Relief Fund, which provided substantial financial aid to the families of the victims. He has also supported various civic causes, including the National September 11 Memorial & Museum. Lutnick's philanthropic efforts extend to supporting initiatives related to veterans and military communities.