May 19 (Reuters) - Wall Street firm Cantor Fitzgerald

said on Monday that U.S. Commerce Secretary Howard Lutnick

agreed to transfer his stake in the firm to his children and a

group of investors, and divested assets in two subsidiaries,

complying with his U.S. government ethics agreement.

Lutnick, who led the U.S. financial services empire for

over three decades, will hand over his ownership to trusts for

his adult children, controlled by his son Brandon Lutnick, the

group's chief executive officer and chairman.

U.S. government officials with Wall Street ties, which also

include U.S. President Donald Trump, must divest or place in a

trust any holdings that could compromise their objectivity or

independence.

As part of the deal, an investor group including Apollo

co-founder Josh Harris's alternative asset management

firm 26North and Oak Hill Advisors founder Glenn August, will

also become minority owners.

Lutnick, sworn in as Commerce Secretary on February 24, also

sold his Class A shares in brokerage BGC Group ( BGC ) for

$151.5 million and commercial real estate firm Newmark Group ( NMRK )

for $127 million to the respective companies.

Cantor Fitzgerald said it will be buying the Commerce

Secretary's Class B BGC shares, maintaining majority ownership

in BGC and Newmark ( NMRK ).

The Wall Street giant added that Lutnick has agreed to forgo

all economic benefits in Cantor Fitzgerald, BGC and Newmark ( NMRK ) as

of May 16.