January 17, 2013
E*TRADE Financial Appoints Paul T. Idzik Chief Executive Officer
Interim CEO Frank J. Petrilli to Continue as Chairman
NEW YORK--(BUSINESS WIRE)--
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that its
Board of Directors has appointed Paul T. Idzik Chief Executive Officer,
effective January 22, 2013.
Paul T. Idzik, Chief Executive Officer, E*TRADE Financial (Photo: Business Wire)
Interim CEO Frank J. Petrilli, who has served since August, 2012, will
continue as Chairman. Rodger A. Lawson will step down as Lead
Independent Director, a role he has served since August 2012, but will
remain on the Board. Mr. Idzik was also named President of E*TRADE Bank,
and will serve on the Company's and E*TRADE Bank's Boards of Directors.
"Paul brings great strengths to our business at this very important time
for our company," Mr. Petrilli said in making the announcement. "Paul is
recognized in the financial services industry for his strong leadership
skills and his demonstrated ability to deliver results and create
shareholder value. As a seasoned senior executive, he has a proven track
record of building strong teams, and working with multiple stakeholders.
Paul is the right person to lead E*TRADE as we continue to execute on
our strategic and capital plan."
"I look forward to joining E*TRADE and working with its management
team," Mr. Idzik said. "E*TRADE has great strengths, from its iconic
brand to its industry-leading technology and its world-class product and
service offerings. These will serve the company well as we work to grow
the franchise and deliver value to shareholders."
About Paul T. Idzik
Paul T. Idzik, 51, was most recently
Group Chief Executive of DTZ Holdings PLC in London. He also served 10
years at Barclays PLC, most recently as Group Chief Operating Officer
and before that as Chief Operating Officer of Barclays Capital. He
oversaw all key functional units, including Information Technology and
Operations, HR, Corporate Communications, Sourcing and Procurement, and
all strategy for Barclays.
Mr. Idzik started his career as a consultant, and spent more than a
decade with Booz Allen Hamilton, where he was a partner in the Financial
Services practice. He advised retail, commercial, and investment banks
on strategy and performance enhancement.
He also sits on the Board of Trustees of the Oxford Philomusica,
Oxford's professional symphony orchestra.
Mr. Idzik has BAs in Economics and Computer Applications from the
University of Notre Dame and an MBA in Finance from the University of
About E*TRADE Financial
The E*TRADE Financial family of
companies provides financial services including online brokerage and
related banking products and services to retail investors. Specific
business segments include Trading and Investing and Balance Sheet
Management. Securities products and services are offered by E*TRADE
Securities LLC (Member FINRA/SIPC). Bank products and services are
offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries and affiliates. More information is available at www.etrade.com.
E*TRADE Financial, E*TRADE and the E*TRADE
logo are trademarks or registered trademarks of E*TRADE Financial
Forward-Looking Statements: The statements contained in this news
release that are forward looking are based on current expectations that
are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, the ability to execute on our strategic and capital plan and
to grow the franchise and deliver value to shareholders. Further
information about these risks and uncertainties can be found in the
annual, quarterly, and current reports on Form 10-K, Form 10-Q, and Form
8-K previously filed by E*TRADE Financial Corporation with the
Securities and Exchange Commission (including information in these
reports under the caption "Risk Factors"). Any forward-looking statement
included in this release speaks only as of the date of this
communication; the Company disclaims any obligation to update any
© 2013 E*TRADE Financial Corporation. All rights reserved.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130117006395/en/
E*TRADE Financial Media Relations
Financial Investor Relations
Brett Goodman, 646-521-4406
Source: E*TRADE Financial Corporation
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