On Tuesday, U.S. President-elect Donald Trump appointed Howard Lutnick, the CEO of Cantor Fitzgerald, as his commerce secretary and U.S. trade representative. This marks a rare occasion where both positions are held by a single individual.
Trump announced, “I am pleased to announce that Howard Lutnick, chairman and CEO of Cantor Fitzgerald, will join my administration as U.S. Secretary of Commerce. He will lead our trade and tariff policies and take on additional responsibilities for the Office of the U.S. Trade Representative.”
The president-elect also commended Lutnick’s leadership, stating, “As co-chair of the Trump-Vance transition team, Howard has played a pivotal role in creating a sophisticated system to help us build the greatest administration America has ever seen.”
Lutnick has been a powerful figure on Wall Street for over three decades, joining Cantor Fitzgerald in 1983. He quickly rose through the ranks, becoming president and CEO at just 29. The firm lost 658 of its 960 New York-based employees, including Lutnick’s brother, during the September 11, 2001 attacks.
In the wake of the tragedy, Lutnick demonstrated incredible resilience, rebuilding the firm in honor of those lost and supporting their families. His leadership during that time inspired many, as he became a symbol of strength in the face of adversity.
Through the Cantor Fitzgerald Relief Fund, Lutnick and his firm contributed $180 million to the families of 9/11 victims. He has also contributed more than $100 million to support victims of terrorism, natural disasters, and various other global crises.
Lutnick is a board member of the National September 11 Memorial and Museum and Weill Cornell Medicine. He was named Financial Times’ Person of the Year in 2001 and Ernst & Young’s U.S. Entrepreneur of the Year in 2010. He was also awarded the Department of the Navy’s Distinguished Public Service Award, the department’s highest honor for civilians.
