Cantor Fitzgerald, the moneybroker under pressure from activist shareholders over corporate governance issues, has created a new position of chief ethics officer.

Paul Pion, currently a senior managing director, will fill the new position. Pion has been with the firm since 2002 and was responsible for directing Cantor's electronic trading platform eSpeed's compliance with the Sarbanes-Oxley Act. In addition to his new role, Pion will continue to serve as head of global internal audit for eSpeed.