Lutnick to Divest BGC, Newmark Interests on Commerce Role
Howard Lutnick
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Wall Street billionaire Howard Lutnick plans to step down from his three businesses and divest interests in his two public companies if he’s confirmed as commerce secretary in President-elect Donald Trump’s administration.
The chief executive officer of Cantor Fitzgerald LP will divest his interests in brokerage BGC Group Inc. and property firm Newmark Group Inc., but doesn’t plan to sell shares on the open market, he said in separate statements issued by those firms.