Howard Lutnick, the CEO of Wall Street investment bank Cantor Fitzgerald, has been named the next US secretary of commerce for Donald Trump.
As the head of the Commerce Department, Lutnick would have sway over the economy through tariffs and trade. If confirmed by the Senate, he would be integral to Trump's plan to raise tariffs on goods from China, a central promise of the president-elect's bid for a second White House term.
The Wall Street veteran has spent his career at financial-services firm Cantor Fitzgerald, where he has been president and CEO since 1991. In recent years, the billionaire banker has become a key advisor to and fundraiser for the 47th president. He is cochair of the Trump transition team.
Here's a look at Lutnick's rise from "middle-class Long Island" to Wall Street boss and what his new role could mean for the investment bank he heads.
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