May 25, 2000 |
E-Trade Group Inc., the No. 2 online broker, on Wednesday named marketing chief Jerry Gramaglia as president and chief operating officer, succeeding Kathy Levinson, who is retiring to focus on philanthropy. Gramaglia, 44, spent more than two decades marketing everything from fruit juice to long-distance service before joining the company in June 1998. In his new post, Gramaglia will report to Christos Cotsakos, chairman and chief executive.
August 26, 2000 |
Internet bank and brokerage E-Trade Group Inc. is being investigated by the Securities and Exchange Commission and the National Assn. of Securities Dealers for inappropriate advertising. The second-largest online broker has agreed to submit its ads to the NASD's regulation division 10 days before first being used, the company said in a filing earlier this month. The NASD can force E-Trade to suspend all advertising if the Menlo Park, Calif.
February 5, 2000 |
Call it bye and hold. E-Trade Group Inc.'s mutual funds chief resigned Friday, saying his belief in buying and holding stocks and funds didn't match the company's strategy of catering to frequent traders. An Internet brokerage likes to trade a lot--who knew? Brian Murray, a vice president at the Menlo Park, Calif., company, will leave March 1 to help start a venture capital firm and possibly an online financial services company.
April 24, 1999 |
Fast-growing companies often split their shares, but twice in one year is a brisk clip, even by Internet stock standards. E-Trade Group Inc., the third-biggest online brokerage, said Friday that it will split its stock 2-for-1, its second split this year as its shares have risen fourfold. The move came as Goldman, Sachs & Co. analyst Richard Strauss forecast that Internet stock trading will grow 40% to 50% a year for the next three to five years.
June 2, 1999 |
Leading online broker E-Trade Group Inc. of Palo Alto said Tuesday it is buying Virginia-based online banker Telebanc Financial Corp., creating the first purely Internet-based financial services company. Once the merger is complete, E-Trade customers would be able to trade stocks, apply for mortgages and pay bills, among other transactions, all on the same Web site. Under terms of the deal, E-Trade would acquire Arlington-based Telebanc for stock worth about $1.8 billion.
January 8, 1999 |
E-Trade Group Inc., the No. 2 online brokerage, and Wall Street giant Goldman Sachs Group each agreed to acquire about 25% of the Archipelago electronic network for trading Nasdaq stocks. Archipelago is one of nine ECNs, or electronic communications networks, approved by the Securities and Exchange Commission to use computers to match purchase and sale orders outside the stock markets' trading systems, anonymously and without intermediaries.
August 5, 1999 |
Internet brokerage executive Frank Petrilli, who nine days ago said he would join E-Trade Group Inc., said he will instead return to TD Waterhouse Group Inc. Petrilli, 48, told Reuters: "A confluence of things on a personal level and a family level caused me to rethink my decision before officially starting at E-Trade. This has nothing to do with the E-Trade organization or the people at all."
February 6, 1999 |
No. 3 Internet brokerage E-Trade Group Inc. suffered its third outage in three days Friday, prompting another flurry of complaints from investors and raising more questions over the ability of online trading systems to provide seamless service. Palo Alto-based E-Trade said its online trading site shut down for about half an hour because of a persistent software glitch. The faulty software was discovered earlier in the week and was replaced, but disruptions continued.
July 18, 2000 |
E-Trade Group Inc., the second-biggest online broker, said Monday that it has agreed to buy San Francisco-based Electronic Investing Corp., which lets clients build portfolios through dollar-amount investments. Closely held Electronic Investing, which does business as EInvesting, allows investors to buy securities in dollar denominations rather than by shares. Menlo Park, Calif.
November 12, 1998 |
Online brokerage E-Trade Group Inc. and other broker-dealers plan to start a new electronic stock-options exchange that will offer trading at a much lower cost than the four major options floors. The new International Securities Exchange will be "much more efficient than a floor-based system," and could shave the price of an options trade by 30% or more, E-Trade Chairman William Porter said this week. Porter would be chairman of the new market.