E*Trade Names New CEO in Executive Shake-Up
September 12 2016 - 09:40AM
Dow Jones News
E*Trade Financial Corp. said it is shaking up its executive
ranks and will replace its chief executive with its general counsel
as growth in its core brokerage business has come under
pressure.
General Counsel Karl Roessner is succeeding Paul Idzik as chief
executive. Chairman Rodger Lawson will take on a daily operational
role in the company, becoming executive chairman.
The company also said it had completed its $725 million deal for
Aperture New Holdings Inc., the parent of online broker
OptionsHouse LLC. Aperture's CEO, Michael Curcio, is becoming
E*Trade's chief brokerage officer. Mr. Curcio will be responsible
for reigniting growth in E*Trade's core business.
"With the OptionsHouse transaction drawn to a close, we have a
significant opportunity to reconfigure the company's leadership to
better focus on growing the business," Mr. Lawson said.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
September 12, 2016 09:25 ET (13:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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