Howard Lutnick, a billionaire from Wall Street, is leading President-elect Donald Trump’s transition team and has a substantial task ahead of him.

By Inauguration Day on January 20, Lutnick and his co-chair, Linda McMahon, need to fill approximately 4,000 roles within the federal government.

The CEO of Cantor Fitzgerald recently mentioned to CNN that everything is progressing smoothly.

“We are well-prepared,” he stated. “I feel very optimistic.”

At a Trump rally in Madison Square Garden, he assured the audience that Trump was determined to assemble “the best team to ever serve in government.”

Who is Howard Lutnick?

Lutnick has been with Cantor Fitzgerald since graduating from college and worked his way up to CEO. Multiple reports suggest he is also in the running to become Treasury secretary.

On September 11, 2001, the terror attacks destroyed Cantor Fitzgerald’s offices in New York City’s One World Trade Center, resulting in the tragic deaths of 658 employees, including his younger brother, Gary.

He survived because he took his son to school on his first day of kindergarten.

After the tragedy, which decimated about 70% of his workforce, Lutnick was tasked with rapid hiring, gaining insight into staffing under pressure, as he shared in an interview with the Wall Street Journal.

What does Lutnick’s role entail?

Managing a successful transition involves extensive planning, according to Max Stier, president and CEO of the Partnership for Public Service, a nonpartisan organization.

Lutnick’s responsibilities include overseeing about 4,000 political appointments, with approximately 1,300 requiring Senate confirmation, as noted by Stier.

“These roles span from the U.S. Attorney General to the special assistant for the anti-trust division,” Stier explained. “They involve leadership positions across various agencies, including secretaries, deputy secretaries, and assistant secretaries.”

The list is extensive.

Additionally, there’s what Stier refers to as “the entourage.”

This includes chiefs of staff, deputy chiefs of staff, and senior advisors, among others. Unlike many democracies that have limited political appointees, the United States has a significantly higher number.

“This reflects the remnants of the spoils system,” Stier remarked. “I’m not convinced it serves the public effectively.”

The late Senator John McCain had previously suggested reducing the number of political appointees.

Stier mentioned that if Elon Musk and Vivek Ramaswamy are aiming for government efficiency, one avenue would be drastically cutting down the political appointees, referencing their new initiative called the “Department of Government Efficiency.”

“These positions are often given to supporters,” he said. “Ultimately, this does not benefit taxpayers or the country.”