Howard Lutnick discloses assets ahead of confirmation as US commerce secretary (updated)

Bgc

24/01/2025 13:39

(Adds details from filing throughout and background in
paragraph 2)
       Jan 24 (Reuters) - Howard Lutnick, President Donald
Trump's nominee to lead the Commerce Department, on Friday
disclosed his financial holdings and assets ahead of a Senate
hearing to confirm him for the role.
    Documents released by the U.S. Office of Government Ethics
showed Lutnick, who is the CEO of brokerage firm Cantor
Fitzgerald, earned nearly $200 million through the brokerage
firm.
        Lutnick has been nominated to lead Trump's trade and
tariff strategy as head of the Commerce Department. He will also
have "additional direct responsibility" for the U.S. Trade
Representative's office, Trump said last year. 
  
        Lutnick said he would resign from his position as
trustee of the Lutnick 2020 Descendants Trust and would divest
individual shares of companies including Walt Disney  DIS.N  and
GE Aerospace  GE.N  held by other trusts where he would retain
his positions. 
        He also runs brokerage firm BGC Group  BGC.O  and is
chairman of Newmark Group, a commercial real estate services
firm. Lutnick disclosed that he would resign from positions at
both companies, upon confirmation. 
  
        The Senate Commerce Committee's hearing is scheduled for
Jan. 29. 
  
        
  

 (Reporting by Manya Saini in Bengaluru; Editing by Shreya
Biswas and Anil D'Silva)
 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))