Howard Lutnick, U.S. Secretary of Commerce and Cantor Fitzgerald’s former chairman and CEO, has agreed to transfer his ownership of Cantor Fitzgerald to the next generation through trusts for the benefit of Brandon Lutnick, chairman and CEO; Kyle Lutnick, executive vice chairman; and his other adult children. Brandon Lutnick is the controlling trustee of such trusts.
Cantor Fitzgerald’s current executive leadership team will remain in place and will continue the firm’s legacy of redefining the financial services and real estate industries.
In connection with the transfer, an investor group led by 26North, the alternative asset management firm founded by Josh Harris, will become minority investors in Cantor Fitzgerald. Glenn August, founder and CEO of Oak Hill Advisors, will also act as a minority investor in Cantor Fitzgerald’s ownership group.
