Cantor Fitzgerald plans to open an arm catering to asset managers in the first quarter of 2004. The firm is already hiring staff for the nascent unit, according to a report carried by Reuters.

The new unit will court asset managers and pension funds by offering clearing, trading, capital raising and a prime brokerage services.

Cantor is best known for its eSpeed acts as an electronic broker of corporates and treasuries for Wall Street firms.

On September 11, 2001 658 Cantor employees were killed when its offices in the World Trade Center were destroyed. That number was the greatest loss of any tenant in the towers.  

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