Overview

• Howard Lutnick, U.S. Commerce Secretary, has completed the transfer of his Cantor Fitzgerald ownership to trusts benefiting his adult children, Brandon and Kyle Lutnick.
• Lutnick sold $151.5 million in shares of BGC Group and $127 million in Newmark Group to the respective companies as part of his divestment process.
• An investor group, including 26North and Oak Hill Advisors, has acquired minority stakes in Cantor Fitzgerald under the finalized deal.
• As of May 16, Lutnick has relinquished all economic benefits tied to Cantor Fitzgerald, BGC, and Newmark to comply with his government ethics agreement.
• The divestment ensures Lutnick’s compliance with federal conflict-of-interest rules as he leads the Commerce Department under President Trump's administration.