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exchange, derivatives, futures, and interest rate swaps. Cantor already employs over 2,300 people. Lutnick boasts membership on the executive board of the NASDAQ stock market and sits on the board of managers of his alma mater, Haverford College. Lutnick's critics say he has not always been scrupulous. German investors are suing Cantor Fitzgerald &CoJorfrjjid and asking more in charge but from 1994 to 1996 they do Howard Lutnick's ambitions are huge, but Full Text: Copyright Forbes Oct 20, 1997 [Photograph] Caption: Cantor Fitzgerald Chief Howard Lutnick A master of the universe-for now.

AT 36, HOWARD LUTNICK is the youngest chief executive of a major Wall Street fine. From his lofty perch on the 105th floor of New York's One World Trade Center, the managing general partner of Cantor Fitzgerald, L.P., can peer down on the lesser skyscrapers that house far bigger and better-known brokerages. Though it dominates the brokering of U.S. government bonds, Cantor is no Merrill Lynch or Morgan Stanley, Dean Witter Discover or Goldman, Sachs. But never mind-Lutnick has ambitions as towering as the aerie he occupies. Cantor has come up as a niche player. In a single day, on average, $100 billion in U.S. government debt is traded through brokers like Cantor, which reigns supreme in brokering long bonds-30-year maturities. It also is a major broker for other segments of the Treasury market. Not least, it supplies the Treasury bond pricing data that are the bread and butter of Dow Jones & Co.'s electronic information service. Though the Cantor partnership's capital of S185 million is only a pittance compared with Morgan's $13 billion or Goldman's $5.8 billion or, soon, the $9 billion of Travelers' Salomon Smith Barney, Lutnick is expanding Cantor into a supermarket of wholesale brokerage services in all kinds of fixed-income paper, foreign exchange, derivatives, futures and interest rate swaps. And it is in equities with institutional sales and trading. Cantor already employs over 2,300 people-more than half of them at its New York headquarters, about 675 in London. [Photograph] Caption: Cantor Fitzgerald Chief Howard Lutnick A master of the universe-for now.

A nondescript man of average height with thinning black hair, Howard Lutnick has come a long way from the modest home on Long Island, where he grew up as one of three children of a college professor. With his 40th birthday still nearly four years away, Lutnick already boasts membership on the executive board of the Nasdaq stock market and sits on the board of managers of his alma mater, Haverford College. Lutnick, his lawyer wife and their 18-month-old son live in Manhattan's showy Trump Palace, where they are served by an English butler. His social ambitions match his business ambitions. This summer the Lutnicks vacationed at the ritzy Grand Hotel du Cap Ferrat on the French Riviera, in a $42,000-aweek villa. His mentor

Lutnick bootstrapped himself from obscurity by being useful to now-legendary Wall Streeter B. Gerald Cantor. When Bernie Cantor died last summer, at 79, he was buried in the small Los Angeles cemetery in which Marilyn Monroe lies. His fortune was estimated at $500 million, and his art collection was world-famous for its hundreds of Rodin sculptures. Cantor's was a classic rags-to-riches tale. As a poor teenager in the Bronx he hawked hot dogs at Yankee Stadium. He quit New York University to become a broker, served as a paratrooper during World War II and in 1945 founded his own securities firm in New York. But it was in Los Angeles, the entertainment capital of the world, that he made his mark, numbering Kirk Douglas and Zsa Zsa Gabor among the clients of his Cantor Fitzgerald & Co. (Fitzgerald, long gone, was an early associate.) Long term wasn't Cantor's style. He kept moving around, looking for an edge. Arbitrage was his real love-small, quick

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