Fimatex passes UK customer accounts to E*Trade

Fimatex passes UK customer accounts to E*Trade

In a coup for E*Trade Group, Societe Generale is recommending existing customers of its UK online brokerage operation, due to be axed as part of a strategic cost-cutting initiative, switch their accounts to E*Trade UK.

Joshua Levine, chief technology officer and managing director Europe, Africa and the Middle East, E*Trade Group, comments: "Despite the challenging market environment, E*Trade continues to deliver solid financial results and remains committed to the UK market for the long-term while many of our competitors have lost share or have been consolidated. We are confident in our international market opportunity and expect our international operations to reach a break-even run rate by the end of year 2002."

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