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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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.