Cantor Fitzgerald will expand its regional presence by opening offices in five states by the end of the year. The offices, including one in Memphis, Tenn, will be staffed with at least 10 salesmen selling the gamut of fixed-income products, including interest-rate products, corporates and asset-backed securities, said Irvin Goldman, president and ceo of Cantor's debt capital markets group. The regional push is to better reach clients and take advantage of existing talented fixed-income professionals in the areas, Goldman said. He declined to specify the number of offices or reveal other states where they will be opened.
Cantor recently opened offices in Houston and Austin, Tex. The Houston office currently has six salesmen and will add another 24 professionals, while the firm could add up to six salesmen to its existing four in Austin. Cantor already has a presence in major markets such as Los Angeles, Chicago and Boston, besides its global headquarters in New York. The firm also has various regional offices including two in Charlotte, N.C. and Darien, Conn.
Goldman said earlier in the year he would add 50-100 executives in 2005. The broker-dealer most recently hired 15 sales and trading professionals in February (BW, 2/21). Cantor has been expanding aggressively since July of 2003.