A U.S. Senate committee voted on Wednesday to advance President Donald Trump's nominee Howard Lutnick, billionaire chairman and CEO of Wall Street firm Cantor Fitzgerald, to run the Commerce Department.

The Senate Commerce Committee moved to advance the nomination of billionaire banker Howard Lutnick to lead the Commerce Department to the Senate floor on Wednesday.

Howard Lutnick, chairman and CEO of investment firms Cantor Fitzgerald and BGC Group, told the U.S. Senate Committee on Commerce, Science and Transportation that he would divest “all of my interests, my business interests, all of my assets, everything.”