BGC Group Faces Leadership Transition Amid Lutnick’s Departure

BGC Group ( (BGC) ) has provided an update.

Howard W. Lutnick, Chairman and CEO of BGC Group, has been nominated by President Donald J. Trump to be the U.S. Secretary of Commerce, prompting him to plan his resignation from the company pending Senate confirmation. Lutnick intends to divest his interests in BGC, ensuring compliance with U.S. government ethics rules, and has recommended a trio of executives to step in as Co-CEOs. Despite leadership changes, BGC anticipates maintaining its current corporate structure, continuing to serve major global financial players with its diverse marketplace and technology services.

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