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(Bloomberg) — Cantor Fitzgerald LP hired about 15 investment bankers and traders in Germany and is looking to open a new office in the country as it seeks to push deeper into European markets.
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The New York-based bank, run for decades by Howard Lutnick until he left this year to become US Commerce secretary, poached the team of bankers, researchers and equities sales and trading personnel from Frankfurt-based Hauck Aufhäuser Lampe Privatbank AG, known as HAL, according to people with knowledge of the matter.
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Cantor, which already has a significant presence in London, is looking to expand its small office in Frankfurt and possibly open another in Hamburg, said the people, who asked not to be identified discussing plans yet to be announced.
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Representatives for Cantor and HAL declined to comment.
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The hires expand the reach of the banking business at Cantor, which is looking to gain market share in sectors including energy, digital assets and infrastructure. It also follows a spree of activity for the firm — now led by Lutnick’s sons and former deputies — which this year signed a deal to buy a hedge fund unit from UBS Group AG and helped launch a vehicle to buy Bitcoin.
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The staffing additions in Germany are also opportunistic. HAL is in the midst of being acquired by Dutch bank ABN Amro Bank NV in a deal announced in May 2024.
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In an interview in March, Kelly said that top bankers at other firms could expect to make as much as double their current pay if they move to Cantor because of its more transparent approach to remuneration.
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