E*Trade CFO and general counsel quit

Source: E*Trade

E*Trade Financial Corporation (NASDAQ: ETFC) today announced the departures of two executive officers.

Matthew J. Audette, the Company's controller and an executive vice president since July 2005, will be appointed acting Chief Financial Officer immediately upon Mr. Simmons' resignation from the position. Mr. Audette will manage the finance, tax and accounting functions while the Company searches for a permanent replacement for Mr. Simmons. As controller, Mr. Audette has been an integral part of E*TRADE's finance staff, managing all accounting functions and SEC reporting.

Russell S. Elmer will act as General Counsel on an extended interim basis. Mr. Elmer served as E*TRADE's General Counsel and Corporate Secretary for six years prior to his departure in June 2007. During his tenure, Mr. Elmer's responsibilities encompassed legal affairs, human resources and compliance. As General Counsel and Corporate Secretary, Mr. Elmer will manage the legal and compliance functions for the Company.

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