BUZZ-John Abularrage likely to succeed Lutnick as BGC CEO, Piper Sandler says

Reuters11-20

** Piper Sandler says BGC Group's BGC.O Americas head John Abularrage is likely to succeed billionaire Howard Lutnick as brokerage firm's CEO

** President-elect Donald Trump on Tuesday picked Wall Street veteran Lutnick to lead his trade and tariff strategy as head of the Commerce Department

** BGC shares fell over 10% earlier on Tuesday after initial reports of a potential nomination, but closed the day down just 2.6%

** Piper Sandler says investors are curious about what this nomination could mean for BGC shares if CEO Lutnick is forced to divest his ownership

** Adds it is hard to foresee what will be legally required of Lutnick, but believes there are various ways to avoid an outright sale of his direct ownership stake

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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