Skip to Main Content
SUBMIT A TIP RECEIVE DAILY NEWS
Menu AdvisorHub
  • News
      • Latest News
          • JPMorgan-ChaseJ.P. Morgan Reorganizes U.S. Wealth Unit
          • 5-Mln-Merrill-Team-In-Texas-Shuffles-To-Wells-Fargo$4.5-Mln Merrill Team in Texas Shuffles to Wells Fargo
          • Ubs-Hires-From-Merrill-Morgan-Stanley-Loses-Ohio-Vet-To-RayjayUBS Hires from Merrill, Morgan Stanley, Loses Ohio Vet to RayJay
          • Wells-Fargo-Joins-Race-To-Zero-CommissionsWells Fargo Joins Race to Zero Commissions
        • Close
      • Advisor Moves
          • 5-Mln-Merrill-Team-In-Texas-Shuffles-To-Wells-Fargo$4.5-Mln Merrill Team in Texas Shuffles to Wells Fargo
          • Ubs-Hires-From-Merrill-Morgan-Stanley-Loses-Ohio-Vet-To-RayjayUBS Hires from Merrill, Morgan Stanley, Loses Ohio Vet to RayJay
          • Cetera , HMC Partners McEachran and John HardyCetera Scores $2.6-Million LPL Team in North Carolina
          • wire-wars-morgan-stanley-adds-another-ubs-teamWire Wars: Morgan Stanley Adds Another UBS Team
        • Close
      • Enforcement
          • J-P-Morgan-Schwab-Win-Orders-Handcuffing-Breakaway-BrokersJ.P. Morgan, Schwab Win Orders Handcuffing Breakaway Brokers
          • Merrill-Raymond-James-To-Pay-12-Million-For-529-Plan-Sales-ViolationsMerrill, Raymond James to Pay $12 Million for 529 Plan Sales Violations
          • J-P-Morgan-Seeks-Tro-Against-Florida-Broker-Who-Joined-UbsJ.P. Morgan Seeks TRO Against Florida Broker Who Joined UBS
          • Massachusetts-Fines-Morgan-Stanley-For-Brokers-Excessive-TradingMassachusetts Fines Morgan Stanley for Broker’s Excessive Trading
        • Close
      • Opinion
          • Investor-Confidence-In-Stocks-Rightly-Declines-Opinion-772x485Investor Confidence in Stocks Rightly Declines: Opinion
          • Opinion-Schwabs-Zero-Commission-Decision-Challenges-Its-Ria-ClientsOpinion: Schwab’s Zero Commission Decision Challenges Its RIA Clients
          • Hedge Funds Binged on GE Stock Before Worst Rout in 11 YearsMillennials’ Portfolios Should Start to Leave Home: Nir Kaissar
          • Barry-Ritholtz-Secs-New-Best-Interest-Rule-Is-Far-From-Best-For-InvestorsBarry Ritholtz: SEC’s New ‘Best Interest’ Rule Is Far From Best for Investors
        • Close
      • Fintech News
          • Need-To-Move-1-6-Billion-Bank-Of-America-Has-An-App-For-That-772x485Need to Move $1.6 Billion? Bank of America Has an App for That
          • Robinhood-Is-Back-In-Washingtons-Crosshairs-After-Leverage-GlitchRobinhood Is Back in Washington’s Crosshairs After Leverage Glitch
          • Robinhood-Traders-Discovered-A-Glitch-That-Gave-Them-Infinite-Leverage-772x485Robinhood Traders Discovered a Glitch That Gave Them ‘Infinite Leverage’
          • U-S-Bank-To-Cut-Thousands-Of-Branch-Workers-In-Digital-PushU.S. Bank to Cut Thousands of Branch Workers in Digital Push
        • Close
      • From the Publisher
          • Richard Frick, Managing Partner and CEO of Gladstone Wealth GroupSeven Questions with Tony Sirianni: Richard Frick of Gladstone Wealth Group
          • Elizabeth Koehler-772×485Seven Questions with Tony Sirianni: BlackRock’s Elizabeth Koehler
          • David CanterSeven Questions with Tony Sirianni: Fidelity’s David Canter
          • 7 Questions Rich Whitworth 772×485Seven Questions with Tony Sirianni: Cetera Financial Group’s Richard Whitworth
          • Zero-Com-Just-Gave-Rias-A-21-Increase-In-Comp-OvernightSirianni: Zero Com just gave RIAs a 21% increase in Comp overnight
          • Chris Mone of WedbushSeven Questions with Tony Sirianni: Wedbush’s Chris Mone
          • Sirianni: You know you’re a European Broker when…Sirianni: You know you’re a European Broker when…
          • seven questions Craig Pirtle-772×485Seven Questions with Tony Sirianni: Craig Pirtle, Managing Director, B. Riley Wealth Management
        • Close
    • Close
  • Deals & Comp
  • Recruiting Wire
  • Resources
    • resources-home-menuResources Home
    • PRACTICE MANAGEMENT RESOURCESPractice Management Resources
    • Transition ResourcesTransition Resources
    • Fintech ResourcesFintech Resources
    • menu fintechFintech Product Directory
    • Boutique Wealth AdvisorsBoutique
    • EventsEvents
    • Close
  • Institute
  • Podcasts
  • Markets
    • Market-News-MenuMarkets
    • OUT OF THE BOX SERIES BY MARK GRANTOut of the Box Series by Mark Grant
    • Boutique Wealth AdvisorsBoutique
    • Close
  • RIA Center
close X
August 14, 2019

E*Trade CEO Roessner Replaced by COO Pizzi

by AdvisorHub Staff
|
News
|
E*Trade
|
No Comments
Share This
SUBMIT A TIP
Michael A. Pizzi, E*Trade's former chief operating officer, who took over as chief executive on Wednesday.
Michael A. Pizzi, E*Trade's former chief operating officer, took over as chief executive on Wednesday.

E*Trade Financial Corp. Chief Executive Karl Roessner stepped down after less than three years at the helm on Wednesday. 

Roessner, who became CEO in September 2016 after serving as E*Trade’s general counsel for seven years, will stay on to advise the company until the end of the year.

He will be replaced in the top spot by Chief Operating Officer Michael A. Pizzi, effective immediately, the company said. Pizzi has been with E*Trade since 2013, serving as chief financial officer and chief risk officer before becoming COO.

A spokeswoman at E*Trade, an online broker-dealer whose banking affiliate arm brought the company close to failure during the financial crisis, declined to comment on the reason for the leadership change. 

“Karl steadfastly served our Company through some of its most turbulent times, guiding it into the thriving institution it is today, which is in no small part due to his positive influence and passion for E*TRADE,” company chairman Rodger A. Lawson said in a statement. 

Roessner last year engineered the purchase of Trust Company of America, which has been renamed E*Trade Advisor Services and is the seed for the company’s plan to service registered investment advisers. Like competitors Charles Schwab Corp., TD Ameritrade Holdings and Fidelity Investments, the company services retail investors directly through discount services as well as independent advisers (“institutional”) who execute client trades through the firms. 

“[W]e reclaimed our mantle as the undisputed home for active and derivative traders, put our brand squarely back on the map as the irreverent challenger, and reignited growth across our retail and institutional channels,” Roessner said in a prepared statement.

The departure comes a month after TD Ameritrade chief executive Tim Hockey said he is leaving the company by the end of February next year. 

 

Like this article? Let AdvisorHub come to you!  Sign up

Share This
No Comments

Leave a Reply Cancel reply


Tony Sirianni Podcast Banner


NEWS

  • J.P. Morgan Reorganizes U.S. Wealth Unit

    J.P. Morgan Reorganizes U.S. Wealth Unit

    Dec 11, 2019
  • $4.5-Mln Merrill Team in Texas Shuffles to Wells Fargo

    $4.5-Mln Merrill Team in Texas Shuffles to Wells Fargo

    Dec 11, 2019
  • UBS Hires from Merrill, Morgan Stanley, Loses Ohio Vet to RayJay

    UBS Hires from Merrill, Morgan Stanley, Loses Ohio Vet to RayJay

    Dec 11, 2019
  • Wells Fargo Joins Race to Zero Commissions

    Wells Fargo Joins Race to Zero Commissions

    Dec 10, 2019
  • UBS to Shutter Three Sales Regions, Revive Wealth Planning Position

    UBS to Shutter Three Sales Regions, Revive Wealth Planning Position

    Dec 10, 2019
  • 2020 Comp: UBS Raises Payout Hurdles Across the Board

    2020 Comp: UBS Raises Payout Hurdles Across the Board

    Dec 10, 2019
  • Cetera Scores $2.6-Million LPL Team in North Carolina

    Cetera Scores $2.6-Million LPL Team in North Carolina

    Dec 9, 2019
  • Ameriprise to Levy New Advisory Fee on Independent Brokers

    Ameriprise to Levy New Advisory Fee on Independent Brokers

    Dec 9, 2019
  • Paul Volcker, Inflation Tamer Who Set Bank Risk Rule, Dies at 92

    Paul Volcker, Inflation Tamer Who Set Bank Risk Rule, Dies at 92

    Dec 9, 2019
  • This Week’s Top Stories: Finra Suspends Broker Over Spousal Accommodation, LPL Nabs $550-Mln Practice, $12.5 Mln UBS Producers Hop to RBC, and Other News

    This Week’s Top Stories: Finra Suspends Broker Over Spousal Accommodation, LPL Nabs $550-Mln Practice, $12.5 Mln UBS Producers Hop to RBC, and Other News

    Dec 7, 2019

Out of the Box by Mark Grant

Latest News 
Advisor Moves 
Enforcement 
Opinion 
  • About Us
  • Contact Us
  • Advertise
  • Events
  • Careers

 get our newsletter

Industry focused content and breaking news.

SIGN UP

Contact Us

Phone: 540-687-7003

PO Box 1232
Middleburg, VA 20118

311 W. 43rd St.,
12th Floor
New York, NY 10036

© 2019 AdvisorHub
  • |Terms of Use
  • |Privacy Policy
  • |Advertise
  • |Careers
  • Facebook
  • Linkedin
  • Twitter
  • Google

Back to top