company . for the method of trading see electronic trading . for east trade street in charlotte see trade street . e trade financial corporation type public company traded as nasdaq etfc s & p 500 component industry financial services founded palo alto california 1982 headquarters time life building new york city united states key people rodger lawson executive chairman karl roessner ceo services brokerage firm revenue us 1.428 billion 2015 1 net income us 268 million 2015 1 total assets us 47.94 billion 2016 2 total equity us 5.799 billion 2015 1 number of employees 3 421 2015 1 website www.etrade.com e trade financial corporation stylized as e trade is a financial services company headquartered in new york city united states . it is an online discount stock brokerage firm for self directed investors . investors can buy and sell such securities as stocks bonds options mutual funds and exchange traded funds via electronic trading platforms or by phone . e trade financial also provides banking services to retail investors such as sweep deposits and savings products . e trade financial operates directly and through numerous subsidiaries . the most significant of its subsidiaries are e trade bank e trade securities llc and e trade clearing llc . contents 1 current operations 2 history 2.1 subprime portfolio divestiture in 2007 2.2 post subprime reorganization 2.3 awards 3 advertising 3.1 e trade baby advertising campaign 4 see also 5 references 6 external links current operations edit as of december 31 2015 the company had 3 213 541 brokerage accounts and a total margin receivables balance of 7.4 billion . 1 in 2015 the company processed 155 470 daily average revenue trades . 1 in 2015 76 % of net revenue was from interest income and 24 % of net revenue was from fees and commissions . 1 the company has 30 branches . 1 the company s primary offices are in alpharetta georgia ; jersey city new jersey ; arlington virginia ; sandy utah ; menlo park california ; and new york new york . history edit in 1982 william a. porter and bernard a. newcomb founded tradeplus in palo alto california with 15 000 in capital . in 1991 porter and newcomb founded a new company e trade securities inc. with several hundred thousand dollars of startup capital from tradeplus . e trade offered its trading services via america online and compuserve . in 1994 its revenues neared 11 million up from 850 000 in 1992 . 3 by june 30 1996 the company had 73 000 customers and processed 8 000 trades per day with quarterly revenue of 15 million . 4 in august 1996 the company executed an initial public offering . 5 in 2001 the company acquired web street securities a publicly traded online brokerage firm for 45 million in stock . web street had offices in beverly hills boston denver and san francisco . 6 in 2003 toronto dominion bank held talks to merge its td waterhouse discount brokerage with e trade but the two sides could not come to an agreement over control of the merged entity . 7 td waterhouse wound up merging with ameritrade to form td ameritrade . 8 after the merger e trade continued talks to merge with td ameritrade but the two sides could not agree on price and governance rights . 9 in august 2005 e trade financial acquired harrisdirect formerly a discount brokerage service of bank of montreal . two months later e trade acquired brown & company aka brownco formerly a discount brokerage service of jpmorgan chase & co. for 1.6 billion in cash . 10 subprime portfolio divestiture in 2007 edit e trade financial center san francisco in july 2007 etrade australia which was a separately operated company owned 6 % by e trade financial was purchased by australian anz bank for 432 million . 11 on november 29 2007 e trade announced a transaction in which citadel llc invested 2.5 billion in cash in exchange for the company s securitized subprime mortgages 12.5 % senior unsecured notes and 84 687 686 shares of common stock equal to 19.99 % of the then currently outstanding shares . the transaction removed the assets with the greatest market risk from e trade s consolidated balance sheet the 3 billion asset backed securities abs portfolio including its abs collateralized debt obligations cdos and second lien securities . this resulted in a net 2.2 billion reduction in assets on the company s balance sheet . citadel received a seat on e trade financial s board of directors and mitch caplan resigned as e trade s ceo . although e trade s management admitted that the deal was costly for the company it removed the risk associated with the subprime investments and resulted in an infusion of 2.5 billion in cash . 12 post subprime reorganization edit in november 2007 e trade revoked the brand name license from sbi e trade securities in japan . 13 in march 2008 e trade named donald layton formerly jpmorgan chase vice chairman as its new ceo . layton had joined e trade s board of directors in november 2007 at the same time as the citadel deal . 14 in july 2008 e trade sold its canadian division to scotiabank for cad 444 million as part of a program to stabilize the company . 15 in december 2009 robert druskin a former chief operating officer of citigroup inc. was named interim ceo and chairman . 16 on march 22 2010 steven freiberg former co ceo of citigroup s global consumer group and former head of the bank s credit card unit was named as e trade s new ceo while druskin continued in his role as board chairman . the company also announced it would seek shareholder approval for a 1 for 10 reverse stock split . 17 on january 17 2013 paul t. idzik was appointed ceo . idzik had previously been group chief executive of dtz and also served ten years at barclays bank . 18 in july 2016 e trade accounted that it will acquire aperture new holdings inc. the parent company of optionshouse for 725 million . 19 on september 12 2016 karl a. roessner was appointed ceo . awards edit the company has received various awards which are listed on its website . 20 advertising edit e trade baby advertising campaign edit e trade baby was an integrated advertising campaign that appeared in online television print and social media . the first e trade baby was gregory michael miller taken in march 2001 . 21 in january 2008 e trade debuted advertisements during the super bowl featuring a talking baby in front of a web cam discussing investing and finance in an adult voice . the insufferable brat returned the following year for super bowl xlvii along with a facebook page updates on twitter and videos on youtube . 22 it is a 30 second talking baby advertisement . the e trade baby demonstrates a save it initiative that focuses on just how much money is at stake in hidden 401 k account fees and offers a better approach come to e trade and save it . 23 the e trade baby was voiced by comedian pete holmes . the campaign was created by tor myhren then of grey global group . 24 in 2013 the company had over 64 million total views and over 26 000 subscribers on youtube more than 108 000 facebook baby and corporate pages fans and more than 17 000 twitter followers . 25 on march 21 2014 the company announced the end of the e trade baby via a commercial which aired during march madness . 26 see also edit new york city portal san francisco bay area portal companies portal comparison of online brokerages merrill lynch pierce fenner & smith inc. v. manning a 2016 supreme court case involving naked short selling claims against e trade and merrill lynch and others . references edit a b c d e f g h e trade financial corporation 2015 form 10 k annual report http www.forbes.com global2000 list 8 header assets sortreverse true search e trade e trade financial corporation history e trade prospectus initial public offering e trade frequently asked questions e trade acquires web street for 45 million in stock . prnewswire . may 21 2001 . valdmanis thor january 14 2004 . td waterhouse e trade talk merger . usa today . retrieved may 1 2010 . austen ian june 23 2005 . td waterhouse usa is sold to ameritrade . new york times . goldstein steve august 22 2007 . e trade and td ameritrade have discussed merger . marketwatch . e trade to acquire brownco for 1.6 b. san francisco business times . september 30 2005 . accessed september 12 2007 . anz s etrade unit has no links to us firm . the australian . november 14 2007 . e trade financial announces 2.5 billion investment led by citadel . business wire . november 29 2007 . e trade financial and sbi e trade announce termination of branding agreement in japan . business wire . november 9 2007 . e trade financial appoints chairman donald h. layton chief executive officer . business wire . march 3 2008 . scotiabank buys e trade canada . cbc news . july 14 2008 . archived from the original on february 11 2009 . e trade financial corp. names robert druskin chairman and interim ceo . business wire . december 21 2009 . e trade financial appoints steven freiberg chief executive officer . business wire . march 22 2010 . e trade financial appoints paul t. idzik chief executive officer . business wire . january 17 2013 . etrade agrees to acquire optionshouse parent for 725 million . market watch . july 25 2016 . e trade awards & recognition . e trade . e trade baby turns five etrade talking baby super bowl ad is back and on twitter . e trade s talking baby is ready to rise again adweek . adweek.blogs.com . january 27 2009 . the guy who made the e trade baby ads is now in charge of advertising at apple . business insider . december 17 2015 . e trade unveils super bowl xlvii advertisement . february 1 2013 . e trade bids goodbye to its iconic baby . cnbc . march 21 2014 . external links edit official website v t e 50 largest banks and bank holding companies in the united states ally american express bancwest bank of america bank of new york mellon bb & t bbva compass bmo harris capital one charles schwab cit citigroup citizens comerica deutsche discover e trade fifth third first niagara ge capital goldman sachs hsbc bank usa huntington john deere jpmorgan chase key m & t morgan stanley mufg union mutual of omaha nationwide new york community northern trust people s united pnc popular rbc usa regions santander state farm state street suntrust svb synchrony td tiaa u.s. usaa wells fargo zions indicates the u.s. subsidiary of a non u.s. bank . inclusion on this list is based on u.s. assets only and is current as of december 31 2015 . coordinates 40 45 37 n 73 58 51 w 40.760372 n 73.980799 w 40.760372 ; 73.980799 retrieved from https en.wikipedia.org w index.php title e trade & oldid 742824338 categories 1982 establishments in californiacompanies based in palo alto californiacompanies established in 1982companies listed on nasdaqfinancial services companies of the united statesonline brokeragesonline companies of the united statestechnology companies of the united stateshidden categories coordinates not on wikidata navigation menu personal tools not logged 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