NEW YORK, March 12, 2012 /PRNewswire/ -- Cantor Fitzgerald & Co. announced today that industry veteran James P. Smyth has joined as Managing Director and Head of its Retail Equity Broker-Dealer Group. Mr. Smyth, formerly with Knight Equity Markets, will be responsible for building out the firm's broker-dealer business and overseeing client relationships. This business involves the execution of retail order flow sent to Cantor by other broker-dealers. Mr. Smyth will work closely with Peter Gallo, Head of Electronic Trading, who is responsible for expanding Cantor's electronic execution capability, and will report to Jarred Kessler, Global Head of Equities.
Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co., said, "One of our critical objectives is becoming a leader in the retail broker-dealer business. Jim's industry knowledge and client relationships will help us provide our customers with an independent execution alternative. With Jim at the helm, along with his team, it is our intention to provide superior execution quality and an unwavering level of customer service as we build a best in class retail equity broker-dealer business."
Mr. Smyth said, "I am delighted to join Cantor, a well capitalized firm that has been in business for over 65 years, which represents the ideal platform for a retail broker-dealer business. With a strong commitment to build this business that has an extensive sales force and no proprietary retail business, the firm is uniquely positioned to make superior execution quality and client service our total priority."
Mr. Smyth is a Wall Street veteran with approximately 35 years of experience, most recently as an Executive Vice President at Knight Equity Markets, where his responsibilities included overseeing and helping to expand the firms' Retail and Fixed Income Broker Dealer Business. He was also the interim head of Knight's Global Fixed Income Business. At Merrill Lynch, Mr. Smyth was a Managing Director as well as President of Broadcort Capital, a subsidiary of Merrill Lynch & Co.
About Cantor Fitzgerald Cantor Fitzgerald, a leading global financial services firm at the forefront of financial and technological innovation, has been a proven and resilient leader for over 65 years. Cantor is a preeminent capital markets investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in institutional equity and fixed income sales and trading and for its expanding presence serving the middle market with investment and merchant banking services, prime brokerage, and commercial real estate financing. Cantor Fitzgerald also is a leader in new businesses and marketplaces including gaming technology, emissions trading, e-commerce, insurance and other ventures. Cantor Fitzgerald & Co. is one of 21 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. Cantor Fitzgerald's 1,400 employees serve clients through 30 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific, and the Middle East. For more information please visit www.cantor.com.
Note to Editors: Cantor Fitzgerald, L.P. is the parent entity of Cantor Fitzgerald & Co.