Howard Lutnick has served as President-elect Donald Trump's transition team cochair.
ANGELA WEISS / AFP
Trump is expected to nominate Howard Lutnick for Commerce secretary, according to the WSJ and CNN.
It's a pivotal pick given that economic concerns helped fuel Trump's win.
Lutnick had previously been viewed as a frontrunner for the position of Treasury secretary.
President-elect Donald Trump is expected to tap billionaire finance executive Howard Lutnick as his next Commerce secretary, according to the Wall Street Journal, CNN, and Axios.
Lutnick, who has served as Trump's transition team cochair alongside WWE chief Linda McMahon, had been previously seen as a frontrunner for the Treasury secretary position.
Commerce secretary will be a pivotal role in the Trump administration, given economic concerns played a key role in fueling Trump's victory.
The chairman and CEO of Cantor Fitzgerald, Lutnick is a New York financial powerhouse. He's known Trump for decades, and has hosted fundraisers for the president-elect and appeared on TV as a surrogate.
He spoke onstage at Trump's Madison Square Garden rally, touting the tariffs of yesteryear and Elon Musk's forthcoming DOGE initiative alongside the Tesla billionaire.
Lutnick is best known for steering Cantor Fitzgerald through the September 11 terrorist attacks.
Previously located at the top of one of the World Trade Center towers, the firm suffered more deaths than any other company that day — roughly two-thirds of its workforce.
Lutnick lost his brother but survived because he happened to be taking his son to school that morning.
A representative for Trump did not immediately respond to a request for comment.
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