e-Trade

{{About|the financial services company|electronic trading|Electronic trading platform|East Trade Street in Charlotte, North Carolina|Trade Street}}

{{Infobox company

| name = E*TRADE from Morgan Stanley

| logo = ETrade Logo.svg

| logo_caption = Logo since January 1, 2022

| logo_size = 250px

| type = Subsidiary

| traded_as = {{NASDAQ was|ETFC}}

| founders = {{ubl|William A. Porter|Bernard A. Newcomb}}

| industry = Financial services

| founded = {{Start date and age|1982}}, in Palo Alto, California, U.S.

| hq_location = Arlington, Virginia, U.S.{{Cite web|url=https://about.etrade.com/contact-us|title=Contact Us | E*TRADE|website=about.etrade.com|accessdate=30 December 2022}}

| key_people = Rodger Lawson (chairman)
Mike Pizzi (CEO)

| services = {{ubl|Stockbroker|Electronic trading platform}}

| parent = Morgan Stanley

| website = {{URL|etrade.com}}

}}

File:Etrade financial center market st san francisco.jpg

E*TRADE{{Cite web | url=https://us.etrade.com/home | title=E*TRADE}} is an investment brokerage and electronic trading platform that operates as a subsidiary of Morgan Stanley.

History

File:ETrade.svg

In 1982, physicist William A. Porter and Bernard A. Newcomb founded TradePlus in Palo Alto, California, with $15,000 in capital. In 1983, it launched its first trade via a Compuserve network. In 1992, Porter and Newcomb founded E-Trade and made electronic trading available to individual investors.{{Cite news | url=https://www.computerworld.com/article/1718072/sidebar-a-brief-history-of-etrade.html | title=Sidebar: A Brief History of ETrade | work=Computerworld | date=September 27, 2004}}

On August 16, 1996, the company became a public company via an initial public offering. The company sold 5,665,000 shares of its common stock for $10.50 per share under the stock ticker "ETFC" on the NASDAQ stock exchange.{{cite news | url=https://www.cnet.com/news/etrade-hits-wall-street/ |title=E*Trade hits Wall Street | work=CNET | date=August 16, 1996}} The company figured prominently in the dot-com boom, as both a way to speculate in internet stocks and an internet stock itself.

In October 2020, the company was acquired by Morgan Stanley.{{cite news | url=https://nypost.com/2020/10/02/morgan-stanley-officially-closes-all-stock-etrade-takeover-deal/ | title=Morgan Stanley officially closes all-stock E*Trade takeover deal |first=Noah |last=Manskar | work=New York Post |date=October 2, 2020}}{{cite news |last1=Hoffman |first1=Liz | title=Morgan Stanley to Buy Eaton Vance for $7 Billion |url=https://www.wsj.com/articles/morgan-stanley-to-buy-eaton-vance-in-deal-valued-at-7-billion-11602159806 |work=The Wall Street Journal | date=October 8, 2020 | url-access=subscription}}{{Cite news | url=https://www.nytimes.com/2020/02/20/business/morgan-stanley-etrade.html | title=Morgan Stanley to Buy E-Trade | first1=Michael J. | last1=de la Merced | first2=Kate | last2=Kelly | first3=Emily | last3=Flitter | work=The New York Times | date=February 20, 2020 | url-access=limited}}

=Management history=

In November 2007, Mitch Caplan resigned as CEO and Citadel LLC received a seat on the board of directors of the company after Citadel invested $2.5 billion in the company to bolster its finances after it suffered losses due to the bursting of the 2000s United States housing bubble.{{Cite news |last=Robinson |first=Gwen |title=Subprime mortgage fears batter E-Trade | url=https://www.ft.com/content/19f09087-c74a-3215-9058-d7fec2324c2a |work=Financial Times | date=November 12, 2007 | url-access=subscription}}{{cite press release | url=https://www.sec.gov/Archives/edgar/data/1015780/000095010307002929/dp07754_ex9901.htm | title=E*TRADE Financial Announces $2.5 Billion Investment Led by Citadel |publisher=E-Trade Financial |via=U.S. Securities and Exchange Commission |date=November 29, 2007}}{{cite news |url=https://www.chicagotribune.com/news/ct-xpm-2007-11-30-0711291062-story.html |title=Citadel boosts E-Trade stake with $2.5 billion investment |first=Becky |last=Yerak |work=Chicago Tribune |date=November 30, 2007}}

In March 2008, E-Trade named Donald Layton, formerly JPMorgan Chase vice chairman, its new CEO. Layton had joined E-Trade's board of directors in November 2007, at the same time as the Citadel LLC deal.{{cite news |url=https://jp.reuters.com/article/idUSWNAS3265/ |title=E*Trade Chairman Layton adds CEO post | first=Joseph A. | last=Giannone | work=Reuters | date=March 2, 2008}}{{Cite news | url=https://www.marketwatch.com/story/e-trade-names-layton-as-ceo-shares-rise-on-deal-speculation | title=E-Trade names Donald Layton as chief executive | first=John | last=Spence | work=MarketWatch | date=March 3, 2008}}{{Cite news | url=https://www.wsj.com/articles/SB120450598417206517 | title=E*Trade, With Layton as CEO, Might Be Angling for a Sale | first=Susanne | last=Craig | work=The Wall Street Journal | date=March 3, 2008 | url-access=subscription}}

In December 2009, Robert Druskin, a former chief operating officer of Citigroup, was named interim CEO and chairman.{{cite news |url=https://www.sandiegouniontribune.com/sdut-e-trade-names-director-as-chairman-interim-ceo-2009dec21-story.html |title=E-Trade names director as chairman, interim CEO |agency=Associated Press |newspaper=San Diego Union Tribune |date=December 21, 2009}}

On March 22, 2010, Steven Freiberg was named CEO. Freiberg was the former co-CEO of Citigroup's global consumer group and the former head of its credit card unit.{{cite news | url=https://money.cnn.com/2010/03/22/news/companies/etrade_appoints_ceo/ | title=ETrade names former Citigroup exec as CEO | first=Blake | last=Ellis | work=CNN | date=March 22, 2010}}{{Cite news | url=https://www.wsj.com/articles/DJFHYW0020100322e63m00006 | title=E*Trade Hires Steven Freiberg As New CEO | work=The Wall Street Journal | date=March 22, 2010 | url-access=subscription}}

On January 17, 2013, Paul T. Idzik was appointed CEO. Idzik had previously been group chief executive of DTZ and also served ten years at Barclays bank.{{cite press release |url=https://www.businesswire.com/news/home/20130117006395/en/E*TRADE-Financial-Appoints-Paul-T.-Idzik-Chief |title=E*TRADE Financial Appoints Paul T. Idzik Chief Executive Officer |publisher=E-Trade Financial |via=Business Wire |date=January 17, 2013}}

In September 2016, Karl A. Roessner, E-Trade's general counsel since 2009, was appointed CEO.

On August 14, 2019, Michael Pizzi was appointed CEO.{{cite news | url=https://www.businessinsider.com/power-moves-of-the-week-etrade-riteaid-2019-8 | title=Here are the latest executive power moves that help explain everything that's going on at E*Trade, Rite Aid, and Yum! Brands | first=Christian | last=Wylonis | work=Business Insider | date=August 19, 2019}}

=Acquisitions and divestitures=

class="wikitable sortable"
scope="col" \| Date ! scope="col" \| Acquisition / Divestiture ! scope="col" \| Company ! scope="col" class="unsortable" \| Ref(s).
{{dts\|2000\|01}} \| Acquisition \| Telebanc \| {{Cite news \|url=https://www.wsj.com/articles/SB947607385757597003 \|title=E*Trade Group Wins Approval To Acquire Telebanc Financial \|first=Rebecca \|last=Buckman \|work=The Wall Street Journal \|date=January 12, 2000 \|url-access=subscription}}{{cite news \|url=https://www.washingtonpost.com/archive/business/2004/01/26/for-e-trade-courtship-ends-short-of-marriage/2c4538af-ca0f-4a34-8643-2424f38d744f/ \|title=For E-Trade, Courtship Ends Short of Marriage \|first=Jerry \|last=Knight \|newspaper=The Washington Post \|date=January 26, 2004}}{{cite news \|url=https://www.deseret.com/1999/6/1/19448596/etrade-to-buy-telebanc-financial \|title=ETrade to buy Telebanc Financial \| work=Deseret News \|agency=Associated Press \|date=June 1, 1999}}
{{dts\|2001\|05}} \| Acquisition \| Web Street Securities \| {{cite news \|url=https://www.bizjournals.com/sanfrancisco/stories/2001/05/21/daily1.html \|title=E-Trade acquires Web Street \|work=American City Business Journals \|date=May 21, 2001 \| url-access=subscription}}{{cite news \|url=https://www.latimes.com/archives/la-xpm-2001-may-22-fi-956-story.html \|title=E-Trade to Buy Web Street for $45 Million \|agency=Reuters \|work=Los Angeles Times \|date=May 21, 2001 \| url-access=subscription}}{{Cite news \| url=https://adage.com/article/news/e-trade-buy-rival-brokerage-web-street/29736 \| title=E-TRADE TO BUY RIVAL BROKERAGE WEB STREET \| work=Ad Age \| date=May 22, 2001 \| url-access=subscription}}
{{dts\|2005\|08}} \| Acquisition \| Harrisdirect \| {{cite news \| url=https://www.latimes.com/archives/la-xpm-2005-aug-09-fi-etrade9-story.html \| title=E-Trade to Acquire Rival Brokerage Harrisdirect \| work=Los Angeles Times \| date=August 9, 2005 \| url-access=subscription}}{{Cite news \| url=https://www.nbcnews.com/id/wbna8870550 \| title=E-Trade agrees to buy rival HarrisDirect \| work=NBC News \| agency=Associated Press \| date=August 8, 2005}}{{Cite news \| url=https://www.infoworld.com/article/2672418/e-trade-buys-online-brokerage-for--700-million.html \| title=E-Trade buys online brokerage for $700 million \| first=Juan Carlos \| last=Perez \| work=InfoWorld \| date=August 8, 2005}}
{{dts\|2005\|10}} \| Acquisition \| Brown & Company \| {{cite news\| url=https://www.bizjournals.com/sanfrancisco/stories/2005/09/26/daily46.html\| title=E-Trade to acquire BrownCo for $1.6B \|work=American City Business Journals\| date=September 30, 2005 \| url-access=subscription}}{{Cite news \| url=https://www.nytimes.com/2005/09/29/business/etrade-to-buy-brownco-from-jp-morgan-for-16-billion.html \| title=E*Trade to Buy BrownCo From J.P. Morgan for $1.6 Billion \| first=Vikas \| last=Bajaj \| work=The New York Times \| date=September 29, 2005 \| url-access=limited}}{{Cite news \| url=https://www.latimes.com/archives/la-xpm-2005-sep-30-fi-etrade30-story.html \| title=E-Trade to Acquire BrownCo for $1.6 Billion \| work=Los Angeles Times \| date=September 30, 2005 \| url-access=subscription}}
{{dts\|2007\|07}} \| Divestiture \| Australian division \| {{cite news \|url=https://www.marketwatch.com/story/anz-bank-clears-final-hurdle-in-bid-to-acquire-etrade-australia \|title=ANZ Bank clears final hurdle in bid to acquire ETrade Australia \|first=Rebecca \|last=Thurlow \|work=MarketWatch \|date=May 16, 2007}}{{Cite news \| url=https://www.reuters.com/article/idUSSYA002745/ \| title=ANZ gets controlling stake in ETrade Australia \| first=Denny \| last=Thomas \| work=Reuters \| date=August 9, 2007}}{{Cite news \| url=https://www.wsj.com/articles/SB117735402266079328 \| title=ANZ Increases Offer to Acquire ETrade Australia \| first=Rebecca \| last=Thurlow \| work=The Wall Street Journal \| date=April 24, 2007 \| url-access=subscription}}{{Cite news \| url=https://www.afr.com/street-talk/anz-banking-group-to-rename-etrade-australia-20160425-goe42q \| title=ANZ Banking Group to re-name ETRADE Australia \| first1=Sarah \| last1=Thompson \| first2=Anthony \| last2=Macdonald \| first3=Joyce \| last3=Moullakis \| work=Australian Financial Review \| date=April 25, 2016 \| url-access=subscription}}
{{dts\|2008\|09}} \| Divestiture \| Canadian division \| {{cite press release \|url=https://scotiabank.investorroom.com/2008-09-22-Scotiabank-Completes-Acquisition-of-E-TRADE-Canada \|title=Scotiabank Completes Acquisition of ETRADE Canada \|publisher=Scotiabank \|date=September 22, 2008}}{{cite news \|url=https://www.cbc.ca/news/business/scotiabank-buys-e-trade-canada-1.696155 \|title=Scotiabank buys ETrade Canada \|publisher=CBC News \|date=July 14, 2008}}
{{dts\|2016\|09}} \| Acquisition \| OptionsHouse \| {{cite press release \|url=https://www.businesswire.com/news/home/20160912005745/en/ETRADE-Financial-Corporation-Announces-Leadership-Transition-Close \|title=ETRADE Financial Corporation Announces Leadership Transition with Close of OptionsHouse Transaction \|publisher=E-Trade Financial \|via=Business Wire \|date=September 12, 2016}}{{Cite news \| url=https://www.marketwatch.com/story/etrade-agrees-to-acquire-optionshouse-parent-for-725-million-2016-07-25 \| title=ETrade agrees to acquire OptionsHouse parent for $725 million \| first=Tonya \| last=Garcia \| work=MarketWatch \| date=July 25, 2016}}{{Cite news \| url=https://www.barrons.com/articles/e-trade-optionshouse-merge-platforms-1504325466 \| title=E*Trade, OptionsHouse Merge Platforms \| first=Theresa W. \| last=Carey \| work=Barron's \| date=September 2, 2017 \| url-access=subscription}}
{{dts\|2018\|04}} \| Acquisition \| Trust Company of America \| {{cite press release \|url=https://www.businesswire.com/news/home/20180409005729/en/ETRADE-Announces-Close-of-Trust-Company-of-America-TCA-Transaction \|title=ETRADE Announces Close of Trust Company of America (TCA) Transaction \| publisher=Business Wire \|date=April 9, 2018}}
{{dts\|2019\|12}} \| Acquisition \| Gradifi \| {{cite press release \|url=https://www.businesswire.com/news/home/20191209005442/en/ETRADE-Bolsters-Corporate-Services-Capabilities-Purchase-Pioneering\| title=ETRADE Bolsters Corporate Services Capabilities Through Purchase of Pioneering Student Loan Benefit Provider Gradifi \|publisher=E-Trade Financial \|via=Business Wire \|date=December 9, 2019}}{{cite news \|url=https://www.reuters.com/article/us-e-trade-financl-deals-gadifi/etrade-buys-student-loan-provider-gradifi-for-30-million-idUSKBN1YD1H8 \|title=E*Trade buys student loan provider Gradifi for $30 million \|first=Steve \|last=Orlofsky \|publisher=Reuters \|date=December 9, 2019}}

class="wikitable sortable"

scope="col" | Date

! scope="col" | Acquisition / Divestiture

! scope="col" | Company

! scope="col" class="unsortable" | Ref(s).

| Acquisition

| Telebanc

| {{Cite news |url=https://www.wsj.com/articles/SB947607385757597003 |title=E*Trade Group Wins Approval To Acquire Telebanc Financial |first=Rebecca |last=Buckman |work=The Wall Street Journal |date=January 12, 2000 |url-access=subscription}}{{cite news |url=https://www.washingtonpost.com/archive/business/2004/01/26/for-e-trade-courtship-ends-short-of-marriage/2c4538af-ca0f-4a34-8643-2424f38d744f/ |title=For E-Trade, Courtship Ends Short of Marriage |first=Jerry |last=Knight |newspaper=The Washington Post |date=January 26, 2004}}{{cite news |url=https://www.deseret.com/1999/6/1/19448596/etrade-to-buy-telebanc-financial |title=ETrade to buy Telebanc Financial | work=Deseret News |agency=Associated Press |date=June 1, 1999}}

| Acquisition

| Web Street Securities

| {{cite news |url=https://www.bizjournals.com/sanfrancisco/stories/2001/05/21/daily1.html |title=E-Trade acquires Web Street |work=American City Business Journals |date=May 21, 2001 | url-access=subscription}}{{cite news |url=https://www.latimes.com/archives/la-xpm-2001-may-22-fi-956-story.html |title=E-Trade to Buy Web Street for $45 Million |agency=Reuters |work=Los Angeles Times |date=May 21, 2001 | url-access=subscription}}{{Cite news | url=https://adage.com/article/news/e-trade-buy-rival-brokerage-web-street/29736 | title=E-TRADE TO BUY RIVAL BROKERAGE WEB STREET | work=Ad Age | date=May 22, 2001 | url-access=subscription}}

| Acquisition

| Harrisdirect

| {{cite news | url=https://www.latimes.com/archives/la-xpm-2005-aug-09-fi-etrade9-story.html | title=E-Trade to Acquire Rival Brokerage Harrisdirect | work=Los Angeles Times | date=August 9, 2005 | url-access=subscription}}{{Cite news | url=https://www.nbcnews.com/id/wbna8870550 | title=E-Trade agrees to buy rival HarrisDirect | work=NBC News | agency=Associated Press | date=August 8, 2005}}{{Cite news | url=https://www.infoworld.com/article/2672418/e-trade-buys-online-brokerage-for--700-million.html | title=E-Trade buys online brokerage for $700 million | first=Juan Carlos | last=Perez | work=InfoWorld | date=August 8, 2005}}

| Acquisition

| Brown & Company

| {{cite news| url=https://www.bizjournals.com/sanfrancisco/stories/2005/09/26/daily46.html| title=E-Trade to acquire BrownCo for $1.6B |work=American City Business Journals| date=September 30, 2005 | url-access=subscription}}{{Cite news | url=https://www.nytimes.com/2005/09/29/business/etrade-to-buy-brownco-from-jp-morgan-for-16-billion.html | title=E*Trade to Buy BrownCo From J.P. Morgan for $1.6 Billion | first=Vikas | last=Bajaj | work=The New York Times | date=September 29, 2005 | url-access=limited}}{{Cite news | url=https://www.latimes.com/archives/la-xpm-2005-sep-30-fi-etrade30-story.html | title=E-Trade to Acquire BrownCo for $1.6 Billion | work=Los Angeles Times | date=September 30, 2005 | url-access=subscription}}

| Divestiture

| Australian division

| {{cite news |url=https://www.marketwatch.com/story/anz-bank-clears-final-hurdle-in-bid-to-acquire-etrade-australia |title=ANZ Bank clears final hurdle in bid to acquire ETrade Australia |first=Rebecca |last=Thurlow |work=MarketWatch |date=May 16, 2007}}{{Cite news | url=https://www.reuters.com/article/idUSSYA002745/ | title=ANZ gets controlling stake in E*Trade Australia | first=Denny | last=Thomas | work=Reuters | date=August 9, 2007}}{{Cite news | url=https://www.wsj.com/articles/SB117735402266079328 | title=ANZ Increases Offer to Acquire ETrade Australia | first=Rebecca | last=Thurlow | work=The Wall Street Journal | date=April 24, 2007 | url-access=subscription}}{{Cite news | url=https://www.afr.com/street-talk/anz-banking-group-to-rename-etrade-australia-20160425-goe42q | title=ANZ Banking Group to re-name E*TRADE Australia | first1=Sarah | last1=Thompson | first2=Anthony | last2=Macdonald | first3=Joyce | last3=Moullakis | work=Australian Financial Review | date=April 25, 2016 | url-access=subscription}}

| Divestiture

| Canadian division

| {{cite press release |url=https://scotiabank.investorroom.com/2008-09-22-Scotiabank-Completes-Acquisition-of-E-TRADE-Canada |title=Scotiabank Completes Acquisition of E*TRADE Canada |publisher=Scotiabank |date=September 22, 2008}}{{cite news |url=https://www.cbc.ca/news/business/scotiabank-buys-e-trade-canada-1.696155 |title=Scotiabank buys E*Trade Canada |publisher=CBC News |date=July 14, 2008}}

| Acquisition

| OptionsHouse

| {{cite press release |url=https://www.businesswire.com/news/home/20160912005745/en/E*TRADE-Financial-Corporation-Announces-Leadership-Transition-Close |title=E*TRADE Financial Corporation Announces Leadership Transition with Close of OptionsHouse Transaction |publisher=E-Trade Financial |via=Business Wire |date=September 12, 2016}}{{Cite news | url=https://www.marketwatch.com/story/etrade-agrees-to-acquire-optionshouse-parent-for-725-million-2016-07-25 | title=ETrade agrees to acquire OptionsHouse parent for $725 million | first=Tonya | last=Garcia | work=MarketWatch | date=July 25, 2016}}{{Cite news | url=https://www.barrons.com/articles/e-trade-optionshouse-merge-platforms-1504325466 | title=E*Trade, OptionsHouse Merge Platforms | first=Theresa W. | last=Carey | work=Barron's | date=September 2, 2017 | url-access=subscription}}

| Acquisition

| Trust Company of America

| {{cite press release |url=https://www.businesswire.com/news/home/20180409005729/en/E*TRADE-Announces-Close-of-Trust-Company-of-America-TCA-Transaction |title=E*TRADE Announces Close of Trust Company of America (TCA) Transaction | publisher=Business Wire |date=April 9, 2018}}

| Acquisition

| Gradifi

| {{cite press release |url=https://www.businesswire.com/news/home/20191209005442/en/E*TRADE-Bolsters-Corporate-Services-Capabilities-Purchase-Pioneering| title=E*TRADE Bolsters Corporate Services Capabilities Through Purchase of Pioneering Student Loan Benefit Provider Gradifi |publisher=E-Trade Financial |via=Business Wire |date=December 9, 2019}}{{cite news |url=https://www.reuters.com/article/us-e-trade-financl-deals-gadifi/etrade-buys-student-loan-provider-gradifi-for-30-million-idUSKBN1YD1H8 |title=E*Trade buys student loan provider Gradifi for $30 million |first=Steve |last=Orlofsky |publisher=Reuters |date=December 9, 2019}}