Lutnick has spent over three decades running Cantor Fitzgerald, an investment bank in New York.
Trump has tasked Howard Lutnick, a longtime friend and pick for commerce secretary, with recruiting officials who will deliver, rather than dilute, his agenda.
In a statement on Tuesday, Trump hailed Lutnick – who has served as co-chair of the Republican’s transition team – as “a dynamic force on Wall Street for more than 30 years”.
Trump issued a statement on the nomination of Lutnick, a co-chair of his transition team, as U.S. allies and partners have been paying keen attention to how Trump's trade policy would take shape and affect their economies after he takes office in January.