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Howard Lutnick discloses assets ahead of confirmation as US commerce secretary
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Howard Lutnick discloses assets ahead of confirmation as US commerce secretary
Jan 24, 2025 6:07 AM

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 ) and

GE Aerospace held by other trusts where he would retain

his positions.

He also runs brokerage firm BGC Group ( BGC ) 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.

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