Cantor Fitzgerald’s Howard Lutnick Divests Stakes to Comply with Ethics Rules

Commerce Secretary Howard Lutnick has transferred his entire stake in Cantor Fitzgerald to his children and outside investors, severing financial ties to avoid conflicts of interest following his February 24 swearing-in. The MOVE underscores the stringent ethics requirements for high-ranking officials.

The stake, valued at $278 million, has been placed into trusts for Lutnick’s adult children, with his son Brandon Lutnick assuming control as Cantor’s new CEO and chairman. Minority investors Josh Harris of 26North and Glenn August of Oak Hill Advisors have also joined the firm.

While the divestiture marks Lutnick’s departure from Cantor’s leadership, it highlights the evolving landscape of financial compliance in government roles. The transaction reflects a broader trend of institutional figures restructuring holdings to meet regulatory standards.