E-Trade Finally Finds A New CEO


Now about that mortgage portfolio…

NEW YORK (AP) — Brokerage firm E-Trade Financial has tapped former Citigroup executive Steven Freiberg as its new CEO, starting next month.

He takes over for Robert Druskin — another former Citigroup Inc. executive — who had served as E-Trade’s CEO on an interim basis after Don Layton retired at the end of 2009. Druskin will continue as chairman.

Freiberg, 53, was most recently co-chairman and co-CEO of Citigroup’s Global Consumer Group.

He will also become an E-Trade board member.

E-Trade Financial Corp., which is based in New York, has been restructuring to cope with the credit crisis and recession. It was especially hurt by loan losses in its mortgage and home lending portfolios.

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