Cantor Fitzgerald, the noted global financial services firm, will hire more than two dozen wholesalers formerly employed by Realty Capital Securities and will enter the non-traded REIT market, according to a report by Investment News’ Bruce Kelly.
According to the Investment News report, two sources have indicated that Cantor Fitzgerald is hiring 28 Realty Capital Securities wholesalers. RCS closed up shop earlier this month after settling fraud charges with the state of Massachusetts stemming from allegations that it cast phony proxy votes related to an AR Capital-sponsored non-traded business development company.
The new wholesalers will be hired for Cantor Fitzgerald’s future nontraded real estate investment trust business.
According to Kelly’s article, “the former RCS wholesalers will be led by Steve Williams, who until recently was the senior vice president and sales manager in charge of the west for RCS.”
To read the Investment News article, click here.