WASHINGTON — President-elect Donald Trump is expected to nominate a key transition adviser and billionaire financial services executive, Howard Lutnick, to lead the Commerce Department, according to two sources familiar with the process. The Cantor Fitzgerald CEO has led and been the public face of Trump’s transition.

President-elect Donald Trump has picked Howard Lutnick, a longtime friend and chief executive of the financial services firm Cantor Fitzgerald, as his nominee for Commerce secretary, according to three people familiar with the decision.

U.S. President-elect Donald Trump is expected to pick Wall Street firm Cantor Fitzgerald's CEO, Howard Lutnick, to serve as commerce secretary, according to media reports on Tuesday, where he would oversee the agency that has become the weapon of choice against China's tech sector.