Kyle Lutnick will also join the Board

NEW YORK, Feb. 19, 2025 — Newmark (Nasdaq: NMRK), a leading commercial real estate firm serving major institutional investors, global corporations, and other property owners and users, today announced that Stephen Merkel has been appointed Chairman of its Board of Directors. Howard W. Lutnick, recently confirmed by the U.S. Senate as the 41st Secretary of Commerce, has resigned as Newmark’s Executive Chairman and Chairman of the Board.

Mr. Merkel, a company veteran since its acquisition by BGC Partners, Inc., will continue as Newmark’s Executive Vice President and Chief Legal Officer. Kyle Lutnick will also join the Board.

“Stephen has been a trusted advisor for over 30 years,” stated Howard Lutnick. “His exceptional leadership and deep understanding of our firm give me confidence in its future success as I assume my new role serving the nation.”

Mr. Merkel also serves as 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.

Before joining Cantor Fitzgerald in 1993, Mr. Merkel was Vice President and Assistant General Counsel at Goldman Sachs & Co.’s J. Aron Division. He previously worked as an associate at Paul, Weiss, Rifkind, Wharton & Garrison and clerked for Judge Irving R. Kaufman of the U.S. Court of Appeals for the Second Circuit. Mr. Merkel holds a Bachelor’s degree in History and Sociology of Science from the University of Pennsylvania and a law degree from the University of Michigan Law School.

Mr. Merkel is a Trustee of the Brooklyn Botanic Garden and a Director of the Brooklyn Bridge Park Corporation. He and his wife, Robin Shanus, have three grown children: David, Gabe, and Leo.

Kyle Lutnick recently served as Global Managing Director of Knotel, Inc., Newmark’s flexible workspace subsidiary. Previously, he was Knotel’s General Manager for the UK and EMEA regions and Vice President of Business Development. Before Knotel, Mr. Lutnick was part of Newmark’s retail advisory team, advising clients in New York City. He earned a Bachelor of Arts degree in Psychology from Stanford University.

Newmark announced further executive and board changes in separate releases. Please visit [link removed].

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), and its subsidiaries (“Newmark”), is a global leader in commercial real estate, supporting all stages of the property life cycle. Newmark’s services and products are customized for each client, encompassing owners, occupiers, investors, founders, and businesses of all sizes. Leveraging its global reach and market expertise, Newmark delivers superior service across the industry. For the year ending December 31, 2024, Newmark reported nearly $2.8 billion in revenue. As of December 31, 2024, Newmark and its partners operated from approximately 170 offices with over 8,000 professionals across four continents. For more information, visit [link removed] or follow [link removed].

Discussion of Forward-Looking Statements about Newmark
Non-historical statements in this document regarding Newmark are “forward-looking statements” subject to risks and uncertainties that could significantly affect actual results. These include statements about the Company’s business, results, financial condition, liquidity, and outlook. Except as legally required, Newmark disclaims any obligation to update forward-looking statements. For details on risks and uncertainties, see Newmark’s Securities and Exchange Commission filings, including risk factors and forward-looking information disclosures in its Form 10-K, Form 10-Q, and Form 8-K reports.

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