E*TRADE Appoints COO Mike Pizzi to CEO

E*TRADE Financial Corporation announced that Chief Operating Officer, Michael A. Pizzi, will assume the Chief Executive Officer role after Karl Roessner announced his decision to leave, following 10 years of service. The appointment of Mr. Pizzi is effective immediately, while Mr. Roessner has agreed to serve in an advisory capacity through year-end to assist with the transition. Mr. Pizzi has also been appointed to the Company’s and Bank’s Board of Directors. Mr. Pizzi has been with E*TRADE since 2003 and has served in several executive roles including the Company’s Chief Operating Officer, Chief Financial Officer, and Chief Risk Officer. Before joining E*TRADE, Mr. Pizzi worked in asset/liability management at both Lehman Brothers and First Maryland Bank, as well as in capital markets research for the Federal Reserve Board.