BGC Group CEO Howard W. Lutnick nominated for US Secretary of Commerce
BGC Group, Inc. (NASDAQ:BGC) Chairman and Chief Executive Officer Howard W. Lutnick has been nominated to serve as the 41st U.S. Secretary of Commerce.
He commented:
“Upon U.S. Senate confirmation, I will step down from my positions at Cantor, BGC, and Newmark. I intend to divest my interests in these companies to comply with U.S. government ethics rules and do not expect any arrangement which involves selling shares on the open market.
I have full confidence in my exceptional management team at BGC. I have met with the Board of Directors and informed them that I expect to recommend that John Abularrage, Jean-Pierre Aubin, and Sean Windeatt be named Co-CEOs of BGC effective upon my confirmation. I am certain they will continue to drive our success, upholding the best interests of our clients, investors, and employees.”
BGC expects no changes to its existing corporate structure and expects to disclose further details at a later date.
Howard W. Lutnick is Chairman & CEO of BGC Group, Inc., a leading global brokerage and financial technology company; Chairman of Newmark Group, Inc. (which operates as Newmark Knight Frank), one of the world’s leading commercial real estate advisory firms; and Chairman & CEO of Cantor Fitzgerald L.P., one of the world’s leading financial services firms. CF Group Management, Inc. is the managing general partner of Cantor.
Mr. Lutnick is a graduate of Haverford College and holds a degree in economics. He joined Cantor in 1983 and was appointed President and CEO in 1991. Five years later he was named Chairman.
Since July 2014, Mr. Lutnick has served as Chairman of the Board and Chief Executive Officer of CF Finance Acquisition Corp., a special purpose acquisition company (the “Cantor SPAC”). Since February 2017, Mr. Lutnick has served as Chairman of the Board and Chief Executive Officer of each of Rodin Global Property Trust, Inc. and Rodin Income Trust, Inc., which are non-traded real estate investment trusts, or REITs.
Mr. Lutnick served as Chairman of the Board of Directors of GFI Group Inc. (“GFI”) from February 26, 2015 through the closing of BGC’s merger with GFI in January 2016.
