Kyle Lutnick will also join the
Board
NEW
YORK, Feb. 18, 2025 /PRNewswire/
-- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the
Company"), a leading commercial real estate advisor and service
provider to large institutional investors, global corporations,
and other owners and occupiers, today announced Stephen Merkel has been named Chairman of the
Board of Directors. Howard W.
Lutnick, who was confirmed today by the United States Senate as the 41st Secretary
of Commerce, has stepped down as Executive Chairman of Newmark and
as the Company's Chairman of the Board.
Mr. Merkel, who has been with the Company since its acquisition
by BGC Partners, Inc., will also retain his roles as Newmark's
Executive Vice President and Chief Legal Officer. Kyle Lutnick will also join as a member of the
Board.
"Stephen has been one of my closest advisors for more than 30
years," said Howard Lutnick.
"He is an outstanding leader who understands the core of our firm.
With his experience and dedication to the Company, I am confident
in the success of the firm as I take on a new role serving the
American people."
Mr. Merkel is Executive Vice Chairman, Executive Managing
Director, and General Counsel for the Cantor Fitzgerald, L.P. group
of companies, which includes Newmark Group, Inc., BGC Group, Inc.
and Cantor Fitzgerald & Co.
Prior to joining Cantor Fitzgerald in 1993, Mr. Merkel was Vice
President and Assistant General Counsel at Goldman Sachs & Co.,
dedicated to the J. Aron Division. Before that, he was an associate
with the law firm of Paul, Weiss, Rifkind, Wharton & Garrison.
He also served as a law clerk for the Honorable Irving R. Kaufman
of the U.S. Court of Appeals for the Second Circuit. Mr. Merkel
received a Bachelor's degree with a major in History and Sociology
of Science from the University of
Pennsylvania and received his law degree from the
University of Michigan Law School.
Mr. Merkel is currently on the Board of Trustees for the
Brooklyn Botanic Garden and on the Board of Directors of the
Brooklyn Bridge Park Corporation. Mr. Merkel lives with his wife,
Robin Shanus, and has three adult
children, David, Gabe and Leo.
Kyle Lutnick most recently served
as Global Managing Director of Knotel, Inc., Newmark's flexible
office and workspace business. Prior to that, he was Knotel's
General Manager of UK & EMEA and Vice President of Business
Development. Before joining Knotel, Mr. Lutnick was a member of
Newmark's market-leading retail advisory team, where he advised
clients in New York City, one of
the most dynamic commercial markets in the world. He holds a
Bachelor of Arts degree in Psychology from Stanford University.
In separate releases, Newmark today announced additional
Executive and Board changes. Please visit ir.nmrk.com.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK),
together with its subsidiaries ("Newmark"), is a world leader in
commercial real estate, seamlessly powering every phase of the
property life cycle. Newmark's comprehensive suite of services and
products is uniquely tailored to each client, from owners to
occupiers, investors to founders, and startups to blue-chip
companies. Combining the platform's global reach with market
intelligence in both established and emerging property markets,
Newmark provides superior service to clients across the industry
spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of
nearly $2.8 billion. As of
December 31, 2024, Newmark and our
business partners together operated from approximately 170 offices
with more than 8,000 professionals across four continents. To learn
more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. These
include statements about the Company's business, results, financial
position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, Newmark undertakes
no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.
