Trump taps investment banker Howard Lutnick as commerce secretary

WASHINGTON, Nov. 19 (Xinhua) — President-elect Donald Trump said Tuesday that he has selected Howard Lutnick, CEO of financial services firm Cantor Fitzgerald and co-chair of his transition team, to join his administration as commerce secretary.
“Howard has been a dynamic force on Wall Street for more than 30 years. He joined Cantor Fitzgerald in 1983, and rapidly rose through the ranks to become president and CEO at the age of 29,” Trump said in a statement posted on Truth Social.
Lutnick is recognized for guiding Cantor Fitzgerald through major challenges, particularly following the devastating Sept. 11, 2001 attacks, which destroyed the company’s headquarters in the World Trade Center and resulted in the deaths of 658 employees, including his brother and best friend.
Since winning the presidential election on Nov. 6, Trump has been quickly announcing his intended Cabinet nominations.
Last week, Trump picked Fox News host and veteran Pete Hegseth as his defense secretary, hardline Republican congressman Matt Gaetz as attorney general, South Dakota Governor Kristi Noem as secretary of homeland security, and former Georgia congressman Doug Collins as secretary for veterans affairs.
Trump tapped Robert F. Kennedy, Jr., who ran as an independent in the 2024 presidential race and then endorsed Trump, to lead the Health and Human Services Department. He selected North Dakota Governor Doug Burgum to serve as interior secretary, and Chris Wright, the CEO of an oilfield services company, as his pick to be the next secretary of energy.
On Monday, Trump tapped Fox host and former Wisconsin Representative Sean Duffy to be secretary of transportation.
With the Republican Party gaining a majority in the Senate and presidential appointments typically requiring only a simple majority of 51 votes for confirmation, Trump faces fewer obstacles in advancing his Cabinet choices.
However, some of his nominations have sparked concerns even among Republicans, leaving it unclear whether they will receive full Republican backing. ■