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Thursday, January 17, 2013

E*Trade names former Barclays exec Idzik as CEO, (NASDAQ: ETFC)

E*Trade Financial Corp , the online brokerage firm that has been struggling to overcome years of lending losses, appointed Paul Idzik as its new chief executive on Thursday.Idzik, 51, a former Barclays chief operating officer, will assume the position on Tuesday when E*Trade announces its fourth-quarter results. He will be the fifth chief executive of the struggling online bank and brokerage since 2009.He will receive an annual base salary of $1 million and restricted stock currently valued at $9 million that vests over four years, E*Trade said in a regulatory filing. Idzik is also eligible for an annual performance bonus of up to $4.5 million.Idzik, an American who served at Barclays' London offices from 2004-08, was most recently group chief executive of DTZ Holdings Plc, a corporate real estate services firm in London. He resigned shortly before the embattled firm was bought by Australia's UGL Ltd in late 2011.

E*TRADE Financial Corporation (E*TRADE) is a financial services company, which provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. Shares of ETFC traded higher by 0.1% or $0.01/share to $9.87. In the past year, the shares have traded as low as $7.08 and as high as $11.50. On average, 4020000 shares of ETFC exchange hands on a given day and today's volume is recorded at 5224096.