Kyle Lutnick, the son of Newmark's former chairman and the current U.S. secretary of commerce, has been appointed the brokerage’s chief strategy officer.

Lutnick has served on New York-based Newmark’s board of directors since February 2025, the same month that his father, Howard Lutnick, was confirmed by Congress to join President Donald Trump’s Cabinet.

In his new role, the 30-year-old Lutnick will oversee Newmark’s transformation agency, which includes the firm’s approach to data, artificial intelligence and other technologies, Newmark announced Friday.

As part of the creation of the chief strategy officer role, the brokerage, led by CEO Barry Gosin, established a management-level strategy committee comprising senior leaders.

"Kyle's service on Newmark's Board of Directors has demonstrated his strong ability to identify growth opportunities and bring innovative thinking to our business," Gosin said in a statement.

Kyle Lutnick will sit on the company’s executive committee and report to Newmark Chief Operating Officer Luis Alvarado.

Kyle Lutnick is also the executive vice chairman of Newmark's controlling shareholder, Cantor Fitzgerald, where his father previously served as CEO. At Newmark, Kyle Lutnick is expected to continue to provide services to Cantor Fitzgerald Securities and other Cantor businesses.

He was previously the global managing director of Knotel, the flexible office business Newmark acquired out of bankruptcy, and was part of the brokerage’s retail advisory team in New York City.

Kyle Lutnick’s younger brother Brandon is the chairman of Cantor Fitzgerald. Alongside their two younger siblings, they have a controlling ownership stake in the Wall Street firm.

Cantor Fitzgerald specializes in investment banking, asset management and commercial real estate finance, including for data centers.

Newmark is among the brokerages that have done a significant number of debt deals around data centers, which the elder Lutnick and the Trump administration more broadly have championed as the core of its economic agenda.

In a first-quarter call with analysts, Gosin said that the increased need for infrastructure and capital expenditures in the data center space “requires additional expertise in structuring these transactions, which is good for us, because we've been involved in the more complex transactions around structuring credit and the ability to get money for compute.”

Last year, Newmark facilitated a $7.1B construction loan to finance a $15B data center project for OpenAI in Abilene, Texas.

Shortly after being appointed commerce secretary, Howard Lutnick divested from Newmark. The company paid $127M for approximately 11 million of his shares.