Howard Lutnick Sheds Ownership Stakes in Cantor Fitzgerald, BGC, Newmark - WSJ
1. Howard Lutnick is selling ownership stakes as part of an ethics agreement. 2. BGC Group is repurchasing over 16.4 million shares for $151.5 million. 3. Shares will be bought at about $9.21 each, the average price last week. 4. Cantor Fitzgerald maintains control over BGC Group and Newmark Group. 5. Lutnick’s deals involve family trusts benefiting his children.