04:28 AM EST, 02/19/2025 (MT Newswires) -- Newmark Group ( NMRK ) said late Tuesday it appointed Stephen Merkel board chairman following Howard Lutnick's resignation.

The company said Lutnick stepped down after being confirmed by the US Senate as the 41st secretary of commerce.

Merkel, who has been with Newmark ( NMRK ) since its acquisition by BGC Partners, will continue as executive vice president and chief legal officer, the company said.