E-Trade

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American financial services company

title: "E-Trade" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["1982-establishments-in-california", "1996-initial-public-offerings", "2020-mergers-and-acquisitions", "american-companies-established-in-1982", "companies-formerly-listed-on-the-nasdaq", "financial-services-companies-established-in-1982", "online-brokerages", "american-corporate-subsidiaries", "online-financial-services-companies-of-the-united-states", "morgan-stanley", "companies-based-in-arlington-county,-virginia"] description: "American financial services company" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/E-Trade" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American financial services company ::

::data[format=table title="Infobox company"]

FieldValue
nameE*TRADE from Morgan Stanley
logoETrade Logo.svg
logo_captionLogo since January 1, 2022
logo_size250px
typeSubsidiary
traded_as
founders
industryFinancial services
founded, in Palo Alto, California, U.S.
hq_locationArlington, Virginia, U.S.
key_peopleRodger Lawson (chairman)
Mike Pizzi (CEO)
services
parentMorgan Stanley
website
::

::callout[type=note] the financial services company ::

| name = ETRADE from Morgan Stanley | logo = ETrade Logo.svg | logo_caption = Logo since January 1, 2022 | logo_size = 250px | type = Subsidiary | traded_as = | founders = | industry = Financial services | founded = , in Palo Alto, California, U.S. | hq_location = Arlington, Virginia, U.S. | key_people = Rodger Lawson (chairman) Mike Pizzi (CEO) | services = | parent = Morgan Stanley | website = ::figure[src="https://upload.wikimedia.org/wikipedia/commons/7/71/Etrade_financial_center_market_st_san_francisco.jpg" caption="ETRADE Financial Center, San Francisco"] ::

E*TRADE (stylized as E*TRADE) is an investment brokerage and electronic trading platform that operates as a subsidiary of Morgan Stanley.

History

::figure[src="https://upload.wikimedia.org/wikipedia/commons/2/22/ETrade.svg" caption="E*TRADE logo from February 3, 2008, to December 31, 2021"] ::

In 1982, physicist William A. Porter and Bernard A. Newcomb founded TradePlus in Palo Alto, California, with $15,000 in capital. In 1983, it launched its first trade via a Compuserve network. In 1992, Porter and Newcomb founded E*TRADE and made electronic trading available to individual investors.

On August 16, 1996, the company (by then known as the E*TRADE Financial Corporation) became a public company via an initial public offering. The company sold 5,665,000 shares of its common stock for $10.50 per share under the stock ticker "ETFC" on the NASDAQ stock exchange. The company figured prominently in the dot-com boom, as both a way to speculate in internet stocks and an internet stock itself.

In October 2020, the company was acquired by Morgan Stanley.

Management history

In November 2007, Mitch Caplan resigned as CEO and Citadel LLC received a seat on the board of directors of the company after Citadel invested $2.5 billion in the company to bolster its finances after it suffered losses due to the bursting of the 2000s United States housing bubble.

In March 2008, E-Trade named Donald Layton, formerly JPMorgan Chase vice chairman, its new CEO. Layton had joined E-Trade's board of directors in November 2007, at the same time as the Citadel LLC deal.

In December 2009, Robert Druskin, a former chief operating officer of Citigroup, was named interim CEO and chairman.

On March 22, 2010, Steven Freiberg was named CEO. Freiberg was the former co-CEO of Citigroup's global consumer group and the former head of its credit card unit.

On January 17, 2013, Paul T. Idzik was appointed CEO. Idzik had previously been group chief executive of DTZ and also served ten years at Barclays bank.

In September 2016, Karl A. Roessner, E-Trade's general counsel since 2009, was appointed CEO.

On August 14, 2019, Michael Pizzi was appointed CEO.

Advertising

In 2007, E-Trade introduced its talking baby campaign in which comedian Pete Holmes was the voice of the baby and Steve Burns was the voice of the announcer.

Acquisitions and divestitures

::data[format=table]

DateAcquisition / DivestitureCompany
AcquisitionTelebanc
AcquisitionWeb Street Securities
AcquisitionHarrisdirect
AcquisitionBrown & Company
DivestitureAustralian division
DivestitureCanadian division
AcquisitionOptionsHouse
AcquisitionTrust Company of America
AcquisitionGradifi
::

References

References

  1. "Contact Us | E*TRADE".
  2. "E*TRADE".
  3. (September 27, 2004). "Sidebar: A Brief History of ETrade". [[Computerworld]].
  4. (August 16, 1996). "E*Trade hits Wall Street". [[CNET]].
  5. Manskar, Noah. (October 2, 2020). "Morgan Stanley officially closes all-stock E*Trade takeover deal". [[New York Post]].
  6. (October 8, 2020). "Morgan Stanley to Buy Eaton Vance for $7 Billion". [[The Wall Street Journal]].
  7. (February 20, 2020). "Morgan Stanley to Buy E-Trade". [[The New York Times]].
  8. Robinson, Gwen. (November 12, 2007). "Subprime mortgage fears batter E-Trade". [[Financial Times]].
  9. (November 29, 2007). "E*TRADE Financial Announces $2.5 Billion Investment Led by Citadel". E-Trade Financial.
  10. Yerak, Becky. (November 30, 2007). "Citadel boosts E-Trade stake with $2.5 billion investment". [[Chicago Tribune]].
  11. Giannone, Joseph A.. (March 2, 2008). "E*Trade Chairman Layton adds CEO post". [[Reuters]].
  12. Spence, John. (March 3, 2008). "E-Trade names Donald Layton as chief executive". [[MarketWatch]].
  13. Craig, Susanne. (March 3, 2008). "E*Trade, With Layton as CEO, Might Be Angling for a Sale". [[The Wall Street Journal]].
  14. (December 21, 2009). "E-Trade names director as chairman, interim CEO". [[San Diego Union Tribune]].
  15. Ellis, Blake. (March 22, 2010). "ETrade names former Citigroup exec as CEO". [[CNN]].
  16. (March 22, 2010). "E*Trade Hires Steven Freiberg As New CEO". [[The Wall Street Journal]].
  17. (January 17, 2013). "E*TRADE Financial Appoints Paul T. Idzik Chief Executive Officer". E-Trade Financial.
  18. Wylonis, Christian. (August 19, 2019). "Here are the latest executive power moves that help explain everything that's going on at E*Trade, Rite Aid, and Yum! Brands". [[Business Insider]].
  19. https://www.cnn.com/2022/01/28/media/etrade-baby-super-bowl-ad
  20. Buckman, Rebecca. (January 12, 2000). "E*Trade Group Wins Approval To Acquire Telebanc Financial". [[The Wall Street Journal]].
  21. Knight, Jerry. (January 26, 2004). "For E-Trade, Courtship Ends Short of Marriage". [[The Washington Post]].
  22. (June 1, 1999). "ETrade to buy Telebanc Financial". [[Deseret News]].
  23. (May 21, 2001). "E-Trade acquires Web Street". [[American City Business Journals]].
  24. (May 21, 2001). "E-Trade to Buy Web Street for $45 Million". [[Los Angeles Times]].
  25. (May 22, 2001). "E-TRADE TO BUY RIVAL BROKERAGE WEB STREET". [[Ad Age]].
  26. (August 9, 2005). "E-Trade to Acquire Rival Brokerage Harrisdirect". [[Los Angeles Times]].
  27. (August 8, 2005). "E-Trade agrees to buy rival HarrisDirect". [[NBC News]].
  28. Perez, Juan Carlos. (August 8, 2005). "E-Trade buys online brokerage for $700 million". [[InfoWorld]].
  29. (September 30, 2005). "E-Trade to acquire BrownCo for $1.6B". [[American City Business Journals]].
  30. Bajaj, Vikas. (September 29, 2005). "E*Trade to Buy BrownCo From J.P. Morgan for $1.6 Billion". [[The New York Times]].
  31. (September 30, 2005). "E-Trade to Acquire BrownCo for $1.6 Billion". [[Los Angeles Times]].
  32. Thurlow, Rebecca. (May 16, 2007). "ANZ Bank clears final hurdle in bid to acquire ETrade Australia". [[MarketWatch]].
  33. Thomas, Denny. (August 9, 2007). "ANZ gets controlling stake in E*Trade Australia". [[Reuters]].
  34. Thurlow, Rebecca. (April 24, 2007). "ANZ Increases Offer to Acquire ETrade Australia". [[The Wall Street Journal]].
  35. (April 25, 2016). "ANZ Banking Group to re-name E*TRADE Australia". [[Australian Financial Review]].
  36. (September 22, 2008). "Scotiabank Completes Acquisition of E*TRADE Canada". [[Scotiabank]].
  37. (July 14, 2008). "Scotiabank buys E*Trade Canada". [[CBC News]].
  38. (September 12, 2016). "E*TRADE Financial Corporation Announces Leadership Transition with Close of OptionsHouse Transaction". E-Trade Financial.
  39. Garcia, Tonya. (July 25, 2016). "ETrade agrees to acquire OptionsHouse parent for $725 million". [[MarketWatch]].
  40. Carey, Theresa W.. (September 2, 2017). "E*Trade, OptionsHouse Merge Platforms". [[Barron's]].
  41. (April 9, 2018). "E*TRADE Announces Close of Trust Company of America (TCA) Transaction". [[Business Wire]].
  42. (December 9, 2019). "E*TRADE Bolsters Corporate Services Capabilities Through Purchase of Pioneering Student Loan Benefit Provider Gradifi". E-Trade Financial.
  43. Orlofsky, Steve. (December 9, 2019). "E*Trade buys student loan provider Gradifi for $30 million". [[Reuters]].

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::

1982-establishments-in-california1996-initial-public-offerings2020-mergers-and-acquisitionsamerican-companies-established-in-1982companies-formerly-listed-on-the-nasdaqfinancial-services-companies-established-in-1982online-brokeragesamerican-corporate-subsidiariesonline-financial-services-companies-of-the-united-statesmorgan-stanleycompanies-based-in-arlington-county,-virginia