13-07-2025
- Business
- Irish Independent
Cantor's Irish profits rise 36pc as income surpasses €60m for first time
Total income at Cantor's Irish arm increased by 19pc to €61.6m over the same period, while assets under management increased by 10pc to €9.2bn.
The company surpassed €60m in total income for the first time.
The firm said that Cantor's asset management arm had outperformed its peers, with its flagship funds up by between 12.3pc and 25.3pc.
Cantor now employs 212 staff in Ireland and has offices in Dublin, Cork and Limerick.
'These returns show that our investment in people and technology is continuing to bear fruit,' said Gerard Casey, CEO of Cantor.
'We are, of course, very pleased that our clients benefited from a very strong performance in 2024 and thanks to a number of key investment decisions that performance has continued into 2025.'
US trade secretary Howard Lutnick was Cantor Fitzgerald's CEO until he joined US president Donald Trump's cabinet in February. He subsequently sold his stakes in the Wall Street business group, passing ownership to his children and private outside investors – reportedly cashing out at least hundreds of millions of dollars.
His two eldest sons, Brandon and Kyle, were appointed earlier this year to oversee the group.
In March, Lutnick publicly attacked Ireland, calling the country his favourite 'tax scam'. He claimed in a podcast that Ireland had all of the US multinational technological and pharmaceutical intellectual property (IP) rights and this deprives the US of tax revenue.
'That's gotta end,' he said.
There have been numerous changes at Cantor's Irish arm over the past year too. Former CEO of both Aviva Life and Pensions and Friends First Tom Browne has just been appointed as chairman of the Cantor Fitzgerald Ireland board. Previously, Irving Byrne became head of Wealth Management, while Aine Cornally joined as chief operating officer.
