NEW YORK, Aug. 30 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced the appointment of Ken Hight to the position of
Executive Vice President, Capital Markets, effective September 6, 2005. Mr.
Hight joins the Company from another electronic trading pioneer, Investment
Technology Group, Inc. As Executive Vice President, Capital Markets, Mr.
Hight will be responsible for the management of the Company's Institutional
equity business, including market making, global institutional brokerage,
electronic trading products (DMA), wholesale execution and the securities
lending operations. Mr. Hight will report to Dennis Webb, President, E*TRADE
Capital Markets.
Mr. Hight comes to E*TRADE with over 30 years experience in the financial
services industry. He most recently served as Chief Executive Officer and
President, ITG Canada, having joined the company in March 2000 to establish
that subsidiary. Prior to ITG, Mr. Hight spent seven years with TD Securities
where he served as Deputy Chair, responsible for Global Institutional
Equities, and as a member of the Executive Committee. Mr. Hight has also held
various senior management positions with TD Bank in Australia, Canada and the
United States.
"E*TRADE Capital Markets is differentiated in that it benefits from the
unique flows of business generated by our Retail customers," said R. Jarrett
Lilien, President and COO, E*TRADE FINANCIAL. "The opportunity is to fully
leverage these flows through interaction with our Institutional customer base.
Ken's overall experience with both the global Institutional markets and the
electronic delivery of execution services makes him the ideal choice to lead
us toward fully realizing this opportunity."
Mr. Hight said, "It is an exciting time to join E*TRADE Capital Markets, a
group that has accomplished a great deal over the past few years and already
accounts for approximately four percent of the consolidated tape for Listed
and OTC securities. I look forward to working with E*TRADE FINANCIAL's
extraordinary team."
E*TRADE Capital Markets provides global execution, independent research,
settlement, brokerage services, market making, electronic trading products,
wholesale execution and securities lending to financial institutions around
the world. From locations in New York, Chicago, Toronto, London, Tokyo and
Hong Kong, E*TRADE Capital Markets offers 24-hour trading coverage in
equities, foreign exchange and fixed income products in over 42 markets; and
is a leading market maker in over 9000 Listed, NASDAQ, Bulletin Board, Pink
Sheets, ADR and Foreign Securities.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provide financial services
including trading, investing, banking and lending for retail and institutional
customers. Securities products and services are offered by E*TRADE Securities
LLC (Member NASD/SIPC). Bank and lending products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Important Notices
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. 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, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on Form
10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or investor relations, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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