E-Trade names new chief exec
Online brokerage E-Trade Financial Corp., whose stock was the worst-performing in the Standard & Poor’s 500 index last year, named a former JPMorgan Chase & Co. vice chairman as chief executive.
Donald Layton, 57, became New York-based E-Trade’s chairman in November when the company ousted CEO Mitchell Caplan and received a $2.55-billion cash infusion from hedge fund Citadel Investment Group.
Layton said Monday that there were no plans to sell or break up E-Trade, which has about $12 billion in troubled home equity loans on its books.
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