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- Deutsche Bank ‘Beyond Repair’ as Trading Drops - Autonomous Research
- Guggenheim Partners CEO Might Step Down
- Wachovia Customer Sues Wells Fargo Over FundSource Losses - Bill Singer
- Credit Downgrade for Wells Fargo Due to Fake Account Scandal
- CFTC Commissioner Quintenz Named Sponsor of the Technology Advisory Committee
- Harbour and Geneos Customers Win FINRA Arbitration Against Stockbroker - Bill Singer
- Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed
- The World’s Biggest Wealth Fund Hits $1 Trillion
- At Jefferies, Like Wall Street, Trading Cedes to Banking
- Ex-SAC Trader Who Pleaded Guilty to Insider Trading Just Remembered He’s Innocent
- JPMorgan Turns to Amazon for Retail 'Customer Experience'
- Goldman Sachs Names Ken Hitchner as New Chairman for Asia Pacific
- Judge All but Tosses SEC Case Against ‘Rogue’ Trader And Ex-FBI Informant Guy Gentile
- 'Boys are #1 Among NFL's Most Valuable Teams
- Fake Tax Returns - Your Next Worry After the Equifax Breach
- FINRA DR Recruiting Arbitrators, Mediators at Congressional Black Caucus Conference
- JPMORGAN: Here's who we think will replace Warren Buffett at Berkshire Hathaway
- Mueller to Search Facebook for Russia-Linked Accounts
- Mark Gomes, Market Analyst and Trade Scalper Settles with SEC
- Equifax Waives Credit Lock Fees For Consumers, Amid Criticism
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NEWSLETTERS & ALERTS
E*Trade CEO Told to Boost Up the Volume or Firm May Be Sold
[Photo: E*Trade Baby from a 2013 Ad]
Since being promoted to chief executive for E*Trade Financial in September 2016, Karl Roessner has been taking steps to return the company to its former position as a technologically advanced brokerage firm. He also launched an advertising campaign in order to attract investors, per the report.
But the ETFC Board of Directors wants more. According to Zacks, they want Roessner to boost the company’s mix of derivatives and managed products – and to improve ETFC’s net new brokerage asset and account growth rates by 2–3% each. (In 2016, the firm acquired OptionsHouse, an online options broker, with a view to bolstering its derivatives platform.) Should he fail, the board may consider selling the business.
While company shares have gained nearly 6% over the last 6 months - outperforming the Zacks categorized Financial–Investment Bank index – the new demands are daunting for E*Trade’s former General Counsel – a position Mr. Roessner held for 7 years. Prior to joining E*Trade, he was a partner with Clifford Chance in the Corporate Practice group.