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E-Trade names Donald Layton chief executive officer

NEW YORK (MarketWatch) — Beleaguered online brokerage E-Trade Financial Corp. said Monday that it is appointing Donald Layton chief executive officer. Layton has been serving as chairman of E-Trade since November, when hedge fund Citadel Investment Group stepped in with a $2.5 billion infusion for the company, which lost big on its holdings in mortgage-backed securities last year. Layton was previously vice chairman of investment bank J.P. Morgan Chase and Co. Under the terms of his new employment agreement, Layton will receive his 2008 and 2009 compensation solely in the form of equity. Acting CEO R. Jarrett Lilien will resume his role as president and chief operating officer of E-Trade.
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Original post by Forextvblog

This entry was posted on Monday, March 3rd, 2008 at 8:09 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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