E*TRADE Financial Corporation Announces Leadership Transition
June 01 2015 - 04:05PM
Business Wire
Matthew J. Audette to leave Company for another
opportunity
Michael A. Pizzi appointed Chief Financial
Officer
Paul W. Brandow appointed Acting Chief Risk
Officer
E*TRADE Financial Corporation (NASDAQ:ETFC) today announced that
Chief Financial Officer Matthew J. Audette advised the Company of
his decision to leave to accept a role with another company. After
16 years of service, Mr. Audette will leave the Company at the end
of July. Current Chief Risk Officer and E*TRADE veteran Michael A.
Pizzi will assume the Chief Financial Officer role, effective June
16. Paul W. Brandow, former Chief Risk Officer and current Senior
Advisor to the Company, will assume the role of Acting Chief Risk
Officer to assure a smooth transition as the Company conducts a
search for a permanent replacement.
“Matt has been a faithful steward of E*TRADE for over a decade
and a half, having played a central role in shoring up our capital
and moving the organization into the strong financial position it
enjoys today,” said Paul Idzik, Chief Executive Officer. “I am
profoundly grateful for his leadership and insight throughout the
Company’s evolution. I am sorry to see him go and wish him all the
best in his new role.”
“We are fortunate that in Mike we have an executive with the
immense experience and institutional knowledge to seamlessly assume
the CFO role,” continued Mr. Idzik. “As our CRO, Mike built and ran
a world-class enterprise risk management function — rolling out
risk oversight and processes across all aspects of our Company.
And, during his time as our Treasurer, he demonstrated an
unparalleled mastery of our financials and balance sheet. I look
forward to working with him in this new role, as his experience
positions him perfectly to assume the charge. I am certain he will
bring the same level of excellence to our finance team that he
brought to our risk and treasury organizations.”
Mr. Pizzi has served as Executive Vice President and CRO since
January 2014, having been with E*TRADE since 2003. As CRO, Mr.
Pizzi took the risk function to new levels, establishing an
enterprise risk management framework that rivals those of much
larger institutions and permeates every facet of the organization
from leadership down to the individual. He also has an extensive
background in treasury and balance sheet management, having served
as Treasurer of E*TRADE Bank from 2008 to 2013, where he was
responsible for all portfolio, capital, and liquidity management.
He took on additional responsibilities as Corporate Treasurer in
2011. Prior to these roles, he held various positions in E*TRADE’s
portfolio management and derivatives functions. Before joining
E*TRADE, Mr. Pizzi worked in asset / liability management at both
Lehman Brothers and First Maryland Bank, as well as in capital
markets research for the Federal Reserve Board.
“I am confident E*TRADE is in extremely capable hands with
Mike,” said Mr. Audette. “And while I am excited for the future,
leaving this organization, where I have spent nearly my entire
career, was a very difficult decision. But given the magnitude of
what we have just accomplished — achieving our long-term goal
related to corporate debt, coupled with the Company’s robust
position and clearly defined financial strategy — I feel strongly
that now is the right time to move forward in my career. I have had
the distinct pleasure of working with a great team and enjoying the
positive results of so many years’ hard work. It has been
particularly gratifying to work with Paul, Mike, and all the
fantastic people at E*TRADE during my 16 years with the Company. As
I move on to the next phase of my career, I thank you all, and wish
you the best.”
About E*TRADE Financial
E*TRADE Financial and its subsidiaries provide financial
services including online brokerage and related banking products
and services to retail investors. Specific business segments
include Trading and Investing and Balance Sheet Management.
Securities products and services are offered by E*TRADE Securities
LLC (Member FINRA/SIPC). Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries and affiliates. More information is available at
www.etrade.com. ETFC-G
Important Notices
E*TRADE Financial, E*TRADE and the E*TRADE logo are trademarks
or registered trademarks of E*TRADE Financial Corporation.© 2015
E*TRADE Financial Corporation. All rights reserved.
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version on businesswire.com: http://www.businesswire.com/news/home/20150601006583/en/
E*TRADE Media
RelationsThayer Fox,
646-521-4418thayer.fox@etrade.comorE*TRADE
Investor RelationsBrett Goodman,
646-521-4406brett.goodman@etrade.com
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