Stephen Merkel Assumes Chairmanship of Newmark's Board of Directors Following Lutnick's Departure

Appointment of Stephen Merkel as Chairman of Newmark

In a significant leadership change, Newmark Group, Inc. has appointed Stephen Merkel as the new Chairman of its Board of Directors. This announcement follows Howard W. Lutnick stepping down as Executive Chairman after his recent confirmation by the United States Senate as the 41st Secretary of Commerce.

Stephen Merkel, who has been an integral part of Newmark since its acquisition by BGC Partners, Inc., also serves as the Executive Vice President and Chief Legal Officer of the company. His extensive tenure and deep understanding of the company's core operations are expected to guide Newmark through its next phase of growth. Lutnick, who praised Merkel's leadership skills, expressed confidence in his ability to drive the firm forward during this transition.

Merkel brings to the table a wealth of experience from his roles in the Cantor Fitzgerald family of companies, where he currently serves as Executive Vice Chairman, Executive Managing Director, and General Counsel. His credentials are bolstered by a background at Goldman Sachs & Co. as Vice President and Assistant General Counsel dedicated to the J. Aron Division, coupled with a strong legal foundation established as an associate at the renowned law firm Paul, Weiss, Rifkind, Wharton & Garrison.

Beyond his corporate role, Merkel is actively involved in community service. He is a member of the Board of Trustees for the Brooklyn Botanic Garden and serves on the Board of Directors of the Brooklyn Bridge Park Corporation. His commitment to both his profession and his community further solidifies his position as a leader who is dedicated to making a positive impact.

Alongside Merkel's appointment, Kyle Lutnick will also join Newmark's Board of Directors. Kyle, the former Global Managing Director of Knotel, Inc., brings a significant backdrop of experience in flexible office and workspace solutions. His previous role encompassed leadership positions in the UK EMEA market and business development at Knotel, along with critical involvement in Newmark's retail advisory team, providing insights into the dynamic New York City commercial market. He holds a Bachelor of Arts in Psychology from Stanford University.

Newmark Group, Inc. has established itself as a formidable player in the commercial real estate arena, serving a diverse range of clients from institutional investors to major corporations. In 2024, the firm reported nearly $2.8 billion in revenue, solidifying its place in the global market with a network of approximately 170 offices and over 8,000 professionals across four continents.

Moving forward, Newmark remains committed to delivering tailored solutions that meet the unique needs of its clients, leveraging market intelligence to enhance service delivery across various sectors. The firm's comprehensive suite of offerings supports stakeholders throughout every stage of the property lifecycle, reaffirming its position as a leader in the real estate advisory and service sector.

As the organization navigates this new chapter with Merkel at the helm, stakeholders can look forward to the strategic initiatives and innovative solutions that will undoubtedly be implemented under his guidance, further advancing Newmark's mission and vision in an ever-evolving market landscape.