(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 […]
Politics
Howard Lutnick discloses assets ahead of confirmation as US commerce secretary
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(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 and GE Aerospace held by other trusts where he would retain his positions.
He also runs brokerage firm BGC Group 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)