E*Trade Seeks Results from Citadel Investment and New Leadership

Things may be looking up for E*Trade Financial Corp as Citadel Investment Group agreed to make a $2.55 billion investment into the discount brokerage, which has been recently hit hard by the US mortgage crisis (see article from The Wall Street Journal). In light of the news, E*Trade CEO/Director Mitchell Caplan will be stepping down from his executive role, to be replaced on an interim basis by E*Trade President Jarrett Lilien, and the position of Chairman, previously held by George Hayter, will be assumed by Donald H Layton.

In order to identify what E*Trade newcomer Donald Layton will bring to the table as Chairman, NewsVisual created an IntellectSpace Knowledge Map of his past leadership positions, both in the corporate and non-corporate sectors (Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).

The results are clear in revealing Layton to have been at the head of one of the most prominent financial entities, JP Morgan Chase, having served until 2004 as Vice Chairman. He had also previously been the Co-CEO of the company’s investment bank. In addition, Layton has been the Vice Chairman of Chemical Bank, a Director at MasterCard and is currently a Director at Assured Guaranteed.

The leadership experience of E*Trade’s new Chairman isn’t limited to corporate institutions. Layton is also shown to have multiple ties to non-corporate entities, serving in Director or Advisor positions at organizations that include the International Monetary Fund, the Foreign Policy Association, the Institute of International Finance and the Bond Market Association.

Layton clearly has an impressive resume in finance and investing, which will hopefully be enough to promote positive results at E*Trade and ease the minds of worried investors in the coming year.

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=368ce154-7867-4edd-9f5f-78ce52a33bd5

Comments

[Denise MoneyMakingMachine]

I tried E-Trade back in 2002 and it sucked. Poor tools and very poor support. I use Waterhouse for all my investing. I'll never go back to E-Trade.

-Denise

[Steve J.]

I am ETrade customer for 10 years and I have been very happy with their service and tools. In fact most of my daytrader friends, who have tried out many brokerages, use ETrade.