Lutnick to Divest BGC, Newmark Interests on Commerce Appointment.

Howard Lutnick, a Wall Street billionaire, intends to resign from his three businesses and divest his interests in brokerage BGC Group Inc. and property firm Newmark Group Inc. if confirmed as commerce secretary in President-elect Donald Trump's administration. Lutnick will not sell shares on the open market but will recommend Co-CEOs for BGC once he steps down. His private firm Cantor Fitzgerald LP's leadership plans remain undisclosed. [Extracted from the article]