NEW YORK, Oct. 6 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced it has completed the acquisition of the US-based
online brokerage operations of Harrisdirect from BMO Financial Group
(NYSE: BMO; TSX).
"The close of the Harrisdirect acquisition marks a milestone in the
evolution of E*TRADE FINANCIAL," said Mitchell H. Caplan, Chief Executive
Officer. "Harrisdirect customers are highly valuable, holding a high industry
average asset balance. Our goal is to leverage each customer relationship
across our integrated platform of investing, cash and credit to further
strengthen our franchise and accelerate our growth goals."
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides 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.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly
diversified North American financial services organization. With total assets
of $294 billion as of January 31, 2005, and more than 33,000 employees, BMO
provides a broad range of retail banking, wealth management and investment
banking products and solutions. BMO Financial Group serves clients across
Canada through its Canadian retail arm BMO Bank of Montreal and through BMO
Nesbitt Burns, one of Canada's leading full-service investment firms. In the
United States, BMO serves clients through Chicago-based Harris, an integrated
financial services organization that provides more than 1.5 million personal,
business, corporate and institutional clients with banking, lending,
investing, financial planning, trust administration, portfolio management,
family office and wealth transfer services.
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
 back to top
Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or IR, Adam Townsend, +1-703-236-8719,
or adam.townsend@etrade.com, both of E*TRADE FINANCIAL
Corporation
|
