E*Trade Financial Chairman Robert Druskin, who's leaving the firm, named as his interim replacement E*Trade CEO Steven Freiberg - who began serving following the firm's annual meeting on Thursday.  Mr. Druskin, a former Citigroup executive, is leaving E*Trade to become chairman of the Depository Trust and Clearing Corp., or DTCC.  The board is searching for a new independent director and will appoint a non-executive chairman following the completion of the search.

Under Freiberg's roughly one-year tenure, E*Trade returned to profitability, though the company is still setting aside money to cover losses from bad loans in its bank's legacy mortgage portfolio.  In his presentation to investors, Freiberg said E*Trade has an opportunity for growth within its corporate services business, noting that the company "has many levers there" that it has yet to turn.  He also addressed E*Trade's troubled but improving loan portfolio, saying that while the company's loan loss provision has declined substantially, it's still very much dependant on factors including the macro-economic environment, consumer confidence, and the unemployment rate.   [MarketWatch, 5/13]