Firms Look at All Aspects of Security after Attacks in US
In the long and dynamic history of risks faced - and faced down - by financial institutions, the events of September 11 both delivered a shock and measured organisations' ability to bounce back.
The experience of one firm in particular, bond-trading house Cantor Fitzgerald, underscores the swiftness with which financial institutions can rebound after unprecedented human tragedy and operational upheaval. Despite losing more than 700 employees and the facilities of its main New York trading floor in the terrorist attacks on the World Trade Center, Cantor Fitzgerald was up and running when US bond markets reopened just two days later.
Lee Amaitis, Cantor Fitzgerald's London-based chief executive, says: "We used to be a triangulated company, but now we are working from two centres."
He says the firm's structure once featured dealing hubs in Manhattan and the UK and an operations and data centre in Rochelle Park, NY, adding: "That we were able to come back so quickly is down to the …
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Publication information: Article title: Firms Look at All Aspects of Security after Attacks in US. Contributors: Not available. Newspaper title: Financial News. Publication date: January 7, 2002. Page number: Not available. © Not available. COPYRIGHT 2002 Gale Group.