September 11, 2025 • 9 mins
On this episode of Our American Stories, when the planes struck the World Trade Center on September 11, 2001, Cantor Fitzgerald was left devastated. The investment firm’s offices spanned the upper floors of the North Tower, leaving no chance of escape. In less than an hour, 658 employees were gone—more lives than any other company lost that day. Among them was the brother of CEO Howard Lutnick. For Lutnick, the grief was immediate and deeply personal, but so was the responsibility. He had to lead a company hollowed out by tragedy while caring for the families who had lost everything. What followed was a story not only of survival, but of loyalty, rebuilding, and the weight of memory. Here, Howard Lutnick reflects on Cantor Fitzgerald’s darkest day and the colleagues and friends who never came home.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:20):
This is our American stories. Remembering the anniversary of nine
to eleven. Many companies and families lost loved ones that day.
I lost one of my best friends, co captain of
my high school basketball team for two years. There was
nothing we didn't do together for so many years. Paul Battini.
(00:45):
There was one investment company that lost six hundred and
fifty eight of its nine hundred and sixty employees. Before
that day, Canter Fitzgerald hadn't been all that well known
beyond Wall Street. However, after nine to eleven, it was
known as the business to have lost the most employees
on nine to eleven. Quote, we have death fame, CEO
(01:10):
Howard Lutnick said, a few days after the horrific event,
Lutnick participated in an emotional interview. He didn't just lose
all those employees, by the way, one of them was
his brother. Here he is explaining why he wasn't there.
Speaker 2 (01:30):
My little boy. I have a five year old and
it was his first day of kindergarten at Harsman, so
I took him for his first day of big boys school.
And because of that, I was late getting down to
the office, and therefore I wasn't in the building. I
was on my way. I saw the building on fire,
so I didn't go in. But I stood at the
(01:51):
door off a church street where there were flags there.
When I stood at the door and people were coming out,
and I was yelling at them, you know, to run
and get out. And there were police sort of around
me yelling at people. Tell him to get out. And
I would ask him what flora they were coming from,
What flora they're coming from? So I would say fifty five,
and I'd screamed, we have fifty five. And because I
kept wanting to get up the building. And well, my brother,
(02:16):
my brother was on one hundred and third floor. He worked,
He worked for me and he worked at Canner. And
he called my sister h just after the just after
the plane hit, and he told her that he said
that the smoke was pouring in. He was he was
stuck in a corner office. There was no way out
and the smoke was coming in. He's not good and
(02:38):
things are not good, and he's not gonna make it.
And he just wanted to say that he loved her
when he wanted to say goodbye. And I tell everyone
that that he loved them. And then the phone went
the phone went dead.
Speaker 1 (02:52):
The plane crashed into floors ninety three through ninety nine.
Canter Fitzgerald was located right above that.
Speaker 2 (03:00):
One to one hundred and five, the top floors of
the of number one World Trade Center, which they call
now the North Tower. I got to the ninety first floor,
and I knew if I got one employee, if one
person came down from that floor, that I know that
there had to be others. There would be others behind them,
there would be others going out other doors. That that
would be good. But I got up to ninety one
and then I heard this sound. It sounded like another
(03:21):
plane was gonna hit the building and was it. But
it didn't sound like it was far away. It sounded
like it was like right when the ceiling is above us.
It was so unbelievably loud, and someone screamed out another
one's coming. So I just turned around and ran and
I and I was running, I was it was number
two World Trade Center collapsing. So I'm I'm standing underneath
the building like an idiot. And I started running and
(03:43):
I'm trying to get ahead of the smoke. And then
the smoke comes around the corner on Trinity Church where
I ran and knocks me down underneath the truck. And
I'm sitting there in this black, the blackest black that
can ever be. I reached up. I tried to see
if I could see it, and I took my hands
and I put it up and I actually touched my eye.
I couldn't see my hand. I could feel the particles
in the air. They were they were like this big.
(04:03):
I could feel them going in and I wasn't. I
couldn't think to like pick up my shirt and put
I was just I was just sitting there thinking, I
can't believe it. I can't believe by standing there I died.
So I just stopped walking. I just start walking straight.
And I just walked straight. And I just keep walking straight.
And I called my wife four hours later and she
was hysterical crying, and so I understand why I took
(04:24):
lots of people a long time. I was, I'm a
pretty thig other person. In night four hours, I walked,
I just walked north.
Speaker 1 (04:32):
I just kept walking, and he just kept walking. All
the Canter Fitzgerald companies are connected by speakerphone, so there
were voices heard from the tower amidst the chaos.
Speaker 2 (04:45):
Yeah, we have, you know, a speakerphone because all our
offices are connected in our equity business, they were all
connected to each other because they talked to each other
all day and they heard them saying, you know, we
need help, we need help, we need help. It wasn't
it wasn't screams. It was there was nowhere to go.
You couldn't go down, couldn't go up. There was nowhere
to go. But I don't know of a single one
(05:06):
of my employees who got down zero zero. And it's
really said. But I think we're all pulling together with
a view that we wanna make things happen for them.
We we need to take care of them. We need
to figure out how to take care of them and
give them more, take care of them. And I think
it's gonna be a different kind of drive than I've
ever had before. It's not about my it's not about
(05:27):
my family. I can't to kiss my kids. I get
to kiss my kids tonight, but other people don't get
to kiss their kids. And I just have to help 'em.
And I think I think it's amazing, And I think
it's amazing they have three hundred people, they lost all
their friends. They lost the person to their left, they
lost the person to their right, and they call me
up and they say, I wanna go to work. I said,
(05:49):
why do you wanna go to work, Let's just go
to funerals. And they go, no, no, I wanna go
to work. I can't stay home. I can't stay home.
I have to make I have to work. I have
to do something. So they actually wanted to try to
figure out how to be in business. It's unbelievable, it
doesn't make any sense. But the reason they want to
(06:09):
be in business, and there's only one reason to be
in business, is because we have to make our company
be able to take care of my seven hundred families.
Seven hundred families, seven hundred families. Just can't say it,
(06:29):
I can't say that.
Speaker 1 (06:30):
Crying, well, a different kind of drive that he'd never
known before kicked in to Howard Lutnik and those remaining employees.
Howard further explains what Canter Fitzgerald was doing before and after.
Speaker 2 (06:47):
Caunter Fitzgerald is the primary. It's like the exchange for
the world's bond markets. I mean it, it is the
exchange for the world bond markets. We last last year
we did fifty trillion dollars in business today. The remaining
employees of Canaforitegerld and Eastpeed have worked every second since
(07:08):
that bomb. And they made the decision. And I told
them there's no reason for us to open. I don't
care when we opened. If we opened, it doesn't matter
to me. And they collectively, two hundred and fifty of
them collectively voted that they were going to open the markets.
And this morning, at seven am, those people opened for business,
(07:29):
not to make money, not but they did it because
they thought if the if the fend the treasure wanted
it to be open, and it was important enough for
them to show straight for America. So these markets, then
they were going to do their damness to get it open.
And they did and it I voted against it. I said, why,
I don't want you to work. I want you to
go home and kiss your kids and hug your families.
(07:49):
But they it's them they wanted. They wanted to do it,
maybe for themselves, maybe for their friends who they lost.
But to write the second, our electronic systems are running
around the world and it's I don't know, maybe it's
a miracle. Maybe it's because these people are just I
don't believe them. I think you can only be a
(08:10):
good pause if you have the right people. And I'm
glad they chose to be with me, But I'm the
sends person in the world that they chose to be
with me. Chose to be with me. Too many people,
to many names, so many people.
Speaker 1 (08:27):
I loved, so many people we all loved again. That's
Howard Lutnick, the CEO of Canter Fitzgerald. They lost so much,
but they did go back to work. And here's why.
After nine to eleven, the Canter Fitzgerald Relief Fund was established.
All those people went back to work for a cause,
(08:50):
a big cause. They have distributed more than one hundred
and eighty million dollars to the family of Canter Fitzgerald,
one quarter of the firm's profits. What a great American story,
What a sad American story, Canter Fitzgerald's story, Howard lutnick
story here on our American Stories nine to eleven remembered
This is our American stories. Remembering the anniversary of nine
to eleven. Many companies and families lost loved ones that day.
I lost one of my best friends, co captain of
my high school basketball team for two years. There was
nothing we didn't do together for so many years. Paul Battini.
(00:45):
There was one investment company that lost six hundred and
fifty eight of its nine hundred and sixty employees. Before
that day, Canter Fitzgerald hadn't been all that well known
beyond Wall Street. However, after nine to eleven, it was
known as the business to have lost the most employees
on nine to eleven. Quote, we have death fame, CEO
(01:10):
Howard Lutnick said, a few days after the horrific event,
Lutnick participated in an emotional interview. He didn't just lose
all those employees, by the way, one of them was
his brother. Here he is explaining why he wasn't there.
Speaker 2 (01:30):
My little boy. I have a five year old and
it was his first day of kindergarten at Harsman, so
I took him for his first day of big boys school.
And because of that, I was late getting down to
the office, and therefore I wasn't in the building. I
was on my way. I saw the building on fire,
so I didn't go in. But I stood at the
(01:51):
door off a church street where there were flags there.
When I stood at the door and people were coming out,
and I was yelling at them, you know, to run
and get out. And there were police sort of around
me yelling at people. Tell him to get out. And
I would ask him what flora they were coming from,
What flora they're coming from? So I would say fifty five,
and I'd screamed, we have fifty five. And because I
kept wanting to get up the building. And well, my brother,
(02:16):
my brother was on one hundred and third floor. He worked,
He worked for me and he worked at Canner. And
he called my sister h just after the just after
the plane hit, and he told her that he said
that the smoke was pouring in. He was he was
stuck in a corner office. There was no way out
and the smoke was coming in. He's not good and
(02:38):
things are not good, and he's not gonna make it.
And he just wanted to say that he loved her
when he wanted to say goodbye. And I tell everyone
that that he loved them. And then the phone went
the phone went dead.
Speaker 1 (02:52):
The plane crashed into floors ninety three through ninety nine.
Canter Fitzgerald was located right above that.
Speaker 2 (03:00):
One to one hundred and five, the top floors of
the of number one World Trade Center, which they call
now the North Tower. I got to the ninety first floor,
and I knew if I got one employee, if one
person came down from that floor, that I know that
there had to be others. There would be others behind them,
there would be others going out other doors. That that
would be good. But I got up to ninety one
and then I heard this sound. It sounded like another
(03:21):
plane was gonna hit the building and was it. But
it didn't sound like it was far away. It sounded
like it was like right when the ceiling is above us.
It was so unbelievably loud, and someone screamed out another
one's coming. So I just turned around and ran and
I and I was running, I was it was number
two World Trade Center collapsing. So I'm I'm standing underneath
the building like an idiot. And I started running and
(03:43):
I'm trying to get ahead of the smoke. And then
the smoke comes around the corner on Trinity Church where
I ran and knocks me down underneath the truck. And
I'm sitting there in this black, the blackest black that
can ever be. I reached up. I tried to see
if I could see it, and I took my hands
and I put it up and I actually touched my eye.
I couldn't see my hand. I could feel the particles
in the air. They were they were like this big.
(04:03):
I could feel them going in and I wasn't. I
couldn't think to like pick up my shirt and put
I was just I was just sitting there thinking, I
can't believe it. I can't believe by standing there I died.
So I just stopped walking. I just start walking straight.
And I just walked straight. And I just keep walking straight.
And I called my wife four hours later and she
was hysterical crying, and so I understand why I took
(04:24):
lots of people a long time. I was, I'm a
pretty thig other person. In night four hours, I walked,
I just walked north.
Speaker 1 (04:32):
I just kept walking, and he just kept walking. All
the Canter Fitzgerald companies are connected by speakerphone, so there
were voices heard from the tower amidst the chaos.
Speaker 2 (04:45):
Yeah, we have, you know, a speakerphone because all our
offices are connected in our equity business, they were all
connected to each other because they talked to each other
all day and they heard them saying, you know, we
need help, we need help, we need help. It wasn't
it wasn't screams. It was there was nowhere to go.
You couldn't go down, couldn't go up. There was nowhere
to go. But I don't know of a single one
(05:06):
of my employees who got down zero zero. And it's
really said. But I think we're all pulling together with
a view that we wanna make things happen for them.
We we need to take care of them. We need
to figure out how to take care of them and
give them more, take care of them. And I think
it's gonna be a different kind of drive than I've
ever had before. It's not about my it's not about
(05:27):
my family. I can't to kiss my kids. I get
to kiss my kids tonight, but other people don't get
to kiss their kids. And I just have to help 'em.
And I think I think it's amazing, And I think
it's amazing they have three hundred people, they lost all
their friends. They lost the person to their left, they
lost the person to their right, and they call me
up and they say, I wanna go to work. I said,
(05:49):
why do you wanna go to work, Let's just go
to funerals. And they go, no, no, I wanna go
to work. I can't stay home. I can't stay home.
I have to make I have to work. I have
to do something. So they actually wanted to try to
figure out how to be in business. It's unbelievable, it
doesn't make any sense. But the reason they want to
(06:09):
be in business, and there's only one reason to be
in business, is because we have to make our company
be able to take care of my seven hundred families.
Seven hundred families, seven hundred families. Just can't say it,
(06:29):
I can't say that.
Speaker 1 (06:30):
Crying, well, a different kind of drive that he'd never
known before kicked in to Howard Lutnik and those remaining employees.
Howard further explains what Canter Fitzgerald was doing before and after.
Speaker 2 (06:47):
Caunter Fitzgerald is the primary. It's like the exchange for
the world's bond markets. I mean it, it is the
exchange for the world bond markets. We last last year
we did fifty trillion dollars in business today. The remaining
employees of Canaforitegerld and Eastpeed have worked every second since
(07:08):
that bomb. And they made the decision. And I told
them there's no reason for us to open. I don't
care when we opened. If we opened, it doesn't matter
to me. And they collectively, two hundred and fifty of
them collectively voted that they were going to open the markets.
And this morning, at seven am, those people opened for business,
(07:29):
not to make money, not but they did it because
they thought if the if the fend the treasure wanted
it to be open, and it was important enough for
them to show straight for America. So these markets, then
they were going to do their damness to get it open.
And they did and it I voted against it. I said, why,
I don't want you to work. I want you to
go home and kiss your kids and hug your families.
(07:49):
But they it's them they wanted. They wanted to do it,
maybe for themselves, maybe for their friends who they lost.
But to write the second, our electronic systems are running
around the world and it's I don't know, maybe it's
a miracle. Maybe it's because these people are just I
don't believe them. I think you can only be a
(08:10):
good pause if you have the right people. And I'm
glad they chose to be with me, But I'm the
sends person in the world that they chose to be
with me. Chose to be with me. Too many people,
to many names, so many people.
Speaker 1 (08:27):
I loved, so many people we all loved again. That's
Howard Lutnick, the CEO of Canter Fitzgerald. They lost so much,
but they did go back to work. And here's why.
After nine to eleven, the Canter Fitzgerald Relief Fund was established.
All those people went back to work for a cause,
(08:50):
a big cause. They have distributed more than one hundred
and eighty million dollars to the family of Canter Fitzgerald,
one quarter of the firm's profits. What a great American story,
What a sad American story, Canter Fitzgerald's story, Howard lutnick
story here on our American Stories nine to eleven remembered
Host
Lee Habeeb
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