Early Life and Education
Howard William Lutnick was born on July 14, 1961, in Jericho, New York. He is of Jewish descent. Lutnick attended Jericho High School and later enrolled at Haverford College in 1979, where he studied economics and graduated in 1983. During his freshman year at Haverford, his father passed away. The college offered him a full scholarship in response, which left a lasting impression and led him to become one of the school's largest donors.
Rise to Success
After graduating, Lutnick joined Cantor Fitzgerald in 1983 under the mentorship of B. Gerald Cantor, the firm's founder. He quickly advanced, becoming the chief executive of a division managing Cantor's personal investments. In 1990, he became the president and chief executive of Cantor Fitzgerald. After Cantor's death in 1996, Lutnick became the chairman. He invested heavily in technology, establishing the electronic trading platform eSpeed.
Key Business Strategies
Lutnick's strategic vision included the development of technology platforms for electronic trading, which helped Cantor Fitzgerald adapt to the changing financial landscape. He separated the voice brokerage business to form BGC Partners in 2004. Lutnick led the merger of BGC with eSpeed in 2008 and acquired Newmark, a commercial real estate advisor, in 2011. He also served as the Chairman and CEO of BGC Group, Inc. and Chairman of Newmark Group, Inc..
Philanthropy
Following the September 11 attacks, Lutnick established the Cantor Fitzgerald Relief Fund, donating $180 million to families of the victims and expanding its mission to support those affected by terrorism and natural disasters. The fund continues to operate, providing essential financial aid. Lutnick is also known for supporting various Jewish and Israeli causes, including United Hatzalah and Birthright Israel.
