04:55 AM EST, 02/19/2025 (MT Newswires) -- BGC Group ( BGC ) said Tuesday that Howard Lutnick has stepped down as chief executive officer and chairman of the company upon his appointment as the US secretary of commerce.

The company named Stephen Merkel as chairman of the board of directors, who has been with the company since its founding and will retain his current roles as executive vice president and general counsel.

BGC has also appointed John Abularrage, JP Aubin, and Sean Windeatt as co-chief executive officers.

Abularrage joined the company in 2021 and has most recently served as the co-global head of brokerage and CEO of the Americas for BGC Group ( BGC ).

Aubin joined BGC in 2005 and previously served as the co-global head of brokerage and CEO of EMEA.

Windeatt has served as BGC's chief operating officer for the last 14 years, a role which he will continue to retain. He was previously also the co-global head of brokerage and CEO of BGC's UK business.