BGC Group Repurchases 16.4M Shares from Howard Lutnick
$BGC
BGC Group Inc. (NASDAQ:BGC), a prominent global brokerage and financial technology company, disclosed a substantial transaction involving the repurchase of 16.4 million shares from Howard W. Lutnick, the United States Secretary of Commerce and the company’s former Chairman and CEO. This repurchase, valued at approximately $151 million, aligns with Lutnick’s compliance with US government ethics rules.
The shares were bought back at a volume-weighted average price of $9.2082, reflecting the company’s proactive approach to capital management and shareholder value enhancement.
Jason Hauf, Chief Financial Officer at BGC, emphasized that the repurchase is a strategic use of capital that supports strong value creation for shareholders, bolstered by the company’s anticipated strong cash flow generation throughout the year. In addition to the share repurchase, H
Howard Lutnick has transferred his ownership interest in Cantor Fitzgerald to trusts for the benefit of his children, with the transactions expected to close following all required regulatory approvals. This move further distances Lutnick from operational roles and financial interests in BGC, ensuring compliance with ethical standards while maintaining Cantor Fitzgerald as BGC’s largest and controlling shareholder.
BGC Group has been expanding its market capabilities through the FMX Futures Exchange, part of the FMX Holdings, LLC. This includes the recent launch of US Treasury futures contracts, which began trading on May 19, 2025. The addition of these contracts complements the existing offerings on the platform, which already includes SOFR futures and a rapidly growing spot Foreign Exchange platform. These strategic moves by BGC Group Inc. are indicative of its ongoing transformation and adaptation to the evolving demands of the financial services industry.
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