The eSpeed management features an experienced team of executives whose collective vision focuses on delivering electronic marketplace technology to transform currently inefficient marketplaces anywhere in the world.

Warburg Dillon Read, a leading investment banking firm, characterizes eSpeed's senior executives as follows: "We believe that eSpeed has superior management. The current management team has built the eSpeed system and has created the marketplaces. eSpeed's management team has been successfully managing one of the largest players in debt markets/brokerages (Cantor Fitzgerald) for many years, and we believe that its experience is vital to the success of eSpeed." January 5, 2000.

Further, strong and experienced outside directors of eSpeed
complement our management team. They include:

  • Richard C. Breeden, former SEC board member
  • Larry R. Carter, Chief Financial Officer of Cisco Systems
  • William J. Moran, Executive Vice President and management committee member of Chase Manhattan Corporation

Executive Management


Howard W. Lutnick
Chairman of the Board and Chief Executive Officer

Frederick T. Varacchi
President and Chief Operating Officer

Douglas B. Gardner
Vice Chairman of the Board

Jeffrey G. Goldflam
Senior Vice President and Chief Financial Officer

Stephen M. Merkel
Senior Vice President,
General Counsel and Secretary


Senior Management

Lee Amaitis
Executive Managing Director,
eSpeed International Limited

Joe Noviello
Senior Vice President, Chief Technology Officer

David Bauer
Managing Director,
Head of Global Sales

Amy Nauiokas
Senior Vice President,
Director of Global Marketing

Glenn D. Kirwin
Senior Vice President & Global Head of Product Development

Jonathan J.Uman
Managing Director, Co-Head of Corporate Development

Harry Fry
Managing Director, Co-Head of Corporate Development

Markus Wiendieck
Managing Director, Co-Head of Corporate Development



Howard W. Lutnick Chairman of the Board and Chief Executive Officer

Howard W. Lutnick serves as Chairman and Chief Executive Officer of eSpeed, Inc., as well as Chairman and CEO of Cantor Fitzgerald, L.P. He directs all facets of eSpeed and Cantor Fitzgerald operations from their New York City headquarters in the World Trade Center.

eSpeed was spun off from Cantor Fitzgerald, L.P. the nation's largest financial services intermediary, in a billion dollar plus IPO in 1999. This IPO was the culmination of Mr. Lutnick's vision for eSpeed. Since then, the firm has rapidly emerged as a leading provider of real-time business-to-business (B2B) electronic marketplaces. eSpeed, Inc. currently employs more than 475 people, 330 of which are technology professionals, and serves the needs of the world's largest financial and energy institutions.

Born in New York, Mr. Lutnick graduated from Haverford College with a degree in economics in 1983 and joined Cantor Fitzgerald the same year. He was named President and CEO of Cantor Fitzgerald in 1991, and was the founder of eSpeed in 1999. Mr. Lutnick is also Co-Chairman of the Cantor Exchange (CX). Powered by eSpeed technology, the Cantor Exchange is the only fully electronic futures exchange in the United States, and is a joint venture with the New York Board of Trade. The CX is also approved for operation in the United Kingdom, France and key financial centers in Germany.

In addition to his executive responsibilities at eSpeed and Cantor Fitzgerald, Mr. Lutnick is a member of Haverford College's Board of Managers, the Fisher Center for Alzheimer's Disease Research at Rockefeller University, a member of the Board of Trustees of the Solomon R. Guggenheim Foundation (The Guggenheim Museum), a member of the Board of Directors of City Harvest, a member of the Executive Committee of the Intrepid Museum Foundation's Board of Trustees, a member of the Board of Directors of the Tate Museum (Tate Modern, London) and a member of the Board of Directors of New York City Public/Private Initiatives, Inc.

Mr. Lutnick is the recipient of numerous awards in recognition of his philanthropic efforts. He also received the Department of the Navy's Distinguished Public Service Award, the highest honor granted by the Navy to non-military personnel. He is a recognized expert on financial markets as well as the rapidly emerging B2B ecommerce industry. He has spoken at the World Economic Forum in Davos, Switzerland, and testified before Committees of both the United States Senate and the United States House of Representatives.


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Frederick T. Varacchi President and Chief Operating Officer

Frederick Varacchi serves as President and Chief Operating Officer, eSpeed, Inc. Executive Managing Director and Chief Operating Officer of Cantor Fitzgerald, L.P. As eSpeed's president and COO, Mr. Varacchi is responsible for all aspects of eSpeed's global business.

Before joining Cantor Fitzgerald in 1998, Mr. Varacchi served as Senior Vice President and Chief Technology Officer of Greenwich/Natwest Capital Markets overseeing information technology for the company. He graduated from Hofstra University in 1988 with a Bachelor of Business Administration in Statistics and Information Technology, joining Smith Barney where he became the head of front office systems development. He later worked for Chase Manhattan Bank where he held a variety of senior technology positions. Mr. Varacchi is a member of the Boards of Directors of Expert Ease Software and Cantor Exchange.


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Douglas B. Gardner Vice Chairman

As the Vice Chairman, Mr. Gardner oversees the company's strategic development, partnership and acquisitions. Prior to joining eSpeed, Mr. Gardner was Chief Administrative Officer of Cantor Fitzgerald, L.P. Before serving as CAO with Cantor Fitzgerald, Mr. Gardner was a partner with DG Equities, a commercial and residential real estate developer and owner, where he oversaw the construction of, managed and obtained financing for various properties in New York City. From 1983 through 1985, Mr. Gardner was associated with Lehman Brothers in the High-Technology Division of their Corporate Finance Department. Mr. Gardner also serves as the Executive Managing Director of Cantor Fitzgerald, L.P.

Mr. Gardner earned a Bachelor of Arts in Economics from Haverford College in 1983.

He is on the Boards of Directors of the Government Securities Clearing Corporation, and the Cantor Exchange, where he sits on the Executive and Finance Committees. He has served since 1990 as a Vice President of Student Athletes, Inc., an organization dedicated to the educational and athletic enrichment of inner city children. Additionally, he serves on the boards of the McBurney YMCA, and the Educational Alliance (an affiliate of the UJA-Federation).


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Jeffrey G. Goldflam Senior Vice President and Chief Financial Officer

As eSpeed's Chief Financial Officer, Mr. Goldflam has overall responsibility for managing eSpeed's global financial and accounting operations from the company's headquarters in New York. He has over 25 years of financial experience with private and public companies as well as the investment banking community. Mr. Goldflam has served as the CFO for FIMAT, USA, Inc. (formerly Brody White & Co.), a subsidiary of the French financial services firm Societe Generale. From 1979 through 1989, he held several senior positions at Thomson McKinnon Securities including Treasurer and member of its Board of Directors. Prior to that, he worked at the investment banking firm of Goldman Sachs & Co. and the professional services firm of Peat Marwick Mitchell & Co.


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Stephen M. Merkel Senior Vice President, General Counsel and Secretary

As Senior Vice President, General Counsel and Secretary, Mr. Merkel also served in the same capacity at Cantor Fitzgerald since 1993. He is responsible for Cantor's legal, compliance, tax, risk and credit departments. Mr. Merkel serves as a director and Secretary of the CANTOR EXCHANGEsm.

Prior to joining Cantor, Mr. Merkel was Vice President and Assistant General Counsel at Goldman Sachs & Co. from February 1990 to May 1993. From September 1985 to january 1990, Mr. Merkel was associated with the law firm of Paul, Weiss, Rifkind, Wharton & Garrison.



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Lee Amaitis Executive Managing Director eSpeed International Limited

As Executive Manageing Director, eSpeed International, Mr. Amaitis continues to engineer the company's growth in looking to optimize the massive potential of the electronic marketplace. In this role, he is spearheading the firm's global initiative to transform traditional fixed income markets to electronic markets via eSpeedsm. Mr. Amaitis also serves as President and Chief Executive Officer of Cantor Fitzgerald International, heading all of the company's European and Asian operations.

Lee is on the Board of Directors of the Boomer Esiason Foundation in the United States, devoted to developing a cure for Cystic Fibrosis, and has involved the Wall Street community in the Foundation's fund raising efforts. In Europe, he is actively involved in fund raising events for various charities. He is on the Board of Directors for Children in Crisis, a charity that helps and supports underprivileged children and those who have been affected by war or environmental disasters.


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Joseph Noviello Senior Vice President, Chief Technology Officer

As the Chief Technology Officer, Mr. Noviello has responsibility for the global technology organization and oversees all technology initiatives, which support all the company's core businesses with emphasis on software engineering, and e-commerce development.

Previously, Mr. Noviello was Managing Director of Cantor Fitzgerald, L.P. Head of Global Infrastructure with responsibility for it's global digital network, systems support and data center operations. Mr. Noviello began his career at Cantor Fitzgerald in September 1995, as Managing Director of the Distributed Development Group, which founded the eSpeed application offering.

Prior to joining Cantor Fitzgerald, Mr. Noviello was Vice President of Product Development at Micrognosis, a software company specializing in trading room data distribution platforms. Mr. Noviello earned his bachelor's degree in Computer Science from Oswego University in 1987.


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David Bauer Managing Director, Head of Global Sales

As Head of Global Sales, Mr. Bauer is responsible for the broad expansion of the eSpeed customer base and adding new products to the eSpeed electronic trading platform. In addition, Mr. Bauer drives the sales effort for eSpeed's Private label and Retail Online initiatives.

Prior to joining eSpeed, Mr. Bauer was with Credit Suisse First Boston (CSFB) for three years where he held the positions of Head of North America Fixed Income and Derivative Distribution and Global Head of Fixed Income Credit Distribution.

Before joining CSFB, Mr. Bauer worked for Lehman Brothers as a Managing Director heading the distribution effort for high yield, bank loans, distressed securities and high grade corporate bonds. He began his career in the industry with Merrill Lynch as a Vice President.

Mr. Bauer is a past President and current member of the Family & Children's Service Corporate Executive Board for Monmouth County, N.J. He is also a past President and founding member of the Villanova Financial Club of New York and along with his wife Ginny, is a recipient of the Helen Hoffman Award for Community Service. From 1978 to 1979 Bauer played professional football with the New York Giants and the Kansas City Chiefs.


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Amy L. Nauiokas Senior Vice President, Director of Global Marketing

.As Director of Global Marketing for eSpeed, a leading business-to-business technology company building electronic trading marketplaces, Ms. Nauiokas is responsible for directing and developing the company's global integrated marketing initiatives, including the firm's advertising, and public relations efforts.

She has spent her first eight months at eSpeed building a full-service global marketing team to support the firm's electronic marketplace creation efforts, and re-positioning the eSpeed brand in preparation for a communications launch later this spring.

Prior to joining eSpeed, Ms. Nauiokas worked as Associate Director of Global Advertising and Director of Fixed Income Product Marketing for Bear Stearns.
She was responsible for the successful marketing launch of a variety of Bear Stearns
businesses as well as the re-positioning of the Bear Stearns brand. She has worked as Global Marketing Communications Manager at Bankers Trust and for the US Peace Corps in Cameroon, West Africa. Ms. Nauiokas earned her Masters degree in Business from Columbia University, and her bachelor's degree in International Studies and Economics from Dickinson College.



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Glenn D. Kirwin Senior Vice President & Global Head of Product Development

As Senior Vice President & Global Head of Product Development, Mr. Kirwin is responsible for overseeing the long-term development of eSpeed, Inc. as well as managing the support team and their relationship with customers.

Previously Glenn Kirwin was Senior VP & Global Head of Sales & Support, responsible for the Sales Team, as well as the Support Team.

In earlier days Glenn Kirwin was a Managing Director of Cantor Fitzgerald, L. P. He was responsible for overseeing the long term development of the Cantor Exchange as well as the over-the-counter U.S. Treasury Options Trading Desk, and is intricately involved in the integration of electronic trading for both Futures and Treasury                                     customers of the firm.

Mr. Kirwin joined Cantor Fitzgerald in 1985 from the Delta Government Options Trading Corp. After graduating form the University of Virginia in 1982, he joined Citibank's Sales and Trading program.


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Jonathan J. Uman Managing Director, Co-Head of Corporate Development

As Managing Director, Co-Head of Corporate Development., Mr. Uman manages all aspects of Corporate Development including new business development, long-term strategy, joint ventures, and mergers and acquisitions.

Before joining eSpeed, Mr. Uman was an investment banker with UBS Warburg (previously known as Warburg Dillon Read and Swiss Bank Corp.) covering financial services technology and focusing on equity offerings and mergers and acquisitions. Mr. Uman previously worked for Dillon Read & Company - focusing on merges and acquisitions, asset securitization, derivative products, equity and debt offerings - and for Merrill Lynch & Company - structuring interest rate swaps and bond derivative products. Before entering investment banking, Mr. Uman held various technology positions in consulting. Mr. Uman earned his Bachelors of Science from Carnegie Mellon University.


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Harry Fry Managing Director, Co-Head of Corporate Development

As Managing Director, Co-Head of Corporate Development, Mr. Fry was recruited to focus on the implementation of eSpeed technologies into new vertical businesses. Prior to joining eSpeed, he was the Chief Executive Officer of Prebon Yamane Americas overseeing business in Canada, the U.S.A., Mexico, Bermuda and Argentina. He was instrumental in the successful development of Prebon's Emerging Markets, Energy Products, Derivatives Products and Technology Platforms. Before joining Prebon in 1994, Mr. Fry was a Director at Patriot Securities responsible for Derivatives. He was previously a senior trader for Bankers Trust , Barclays De Zoette Wedd, and Bank of America.


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Markus Wiendieck Managing Director, Co-Head of Corporate Development

As Managing Director, Co-Head of Corporate Development., Dr. Wiendieck manages all aspects of Corporate Development including new business development, long-term strategy, joint ventures, and mergers and acquisitions. Dr. Wiendieck's focus is on Europe and Asia.

Before joining eSpeed, Dr. Wiendieck was an investment banker with Lehman Brothers both in London and New York, covering technology, media and telecommunications companies and focusing on mergers and acquisitions. Dr.. Wiendieck previously worked for Deutsche Bank Morgan Grenfell - focusing on corporate finance in Frankfurt and in London. Before entering investment banking, Dr. Wiendieck was a management consultant to the banking industry. Dr. Wiendieck earned his Ph.D. in Finance and Economics from University of Cologne.