Cantor Fitzgerald plans flotation

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Aantor Fitzgerald, the US investment bank that lost two-thirds of its workforce in the September 11 attacks, is planning a flotation that would end its 66-year-old partnership status.

Howard Lutnick, Cantor's chief executive, said the public offering would provide funds for acquisitions and to reward staff, who have supported dead colleagues' families with $180m of partnership profits since the attacks a decade ago.

Mr Lutnick, who lost his brother in the World Trade Centre's collapse, told The Sunday Telegraph a flotation was now "a matter of when, not if".

The flotation is scheduled for early next year. Mr Lutnick also said the firm had begun hiring the children of the 658 employees who lost their lives in the attacks.