Charles Schwab (US)

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Selected E*Trade advertising

E*Trade is a financial services company specialising in online brokerage services. It is the #2 in internet-based share dealing behind Charles Schwab. The company was in fact a pioneer in electronic trading, founded originally in 1982 (as TradePlus) to offer direct brokerage by dial-up to owners of the first personal computers. It rebranded as E*Trade in 1992. More recently the company established a high public profile with a long-running and hugely popular marketing campaign (by Grey NY) featuring the "E*Trade Babies". However, it also suffered significantly from the economic problems of late 2000s, notching up steep losses between 2007 and 2010 as a result of an ill-considered move into mortgages and related securities. It was briefly back into profit in 2011, before reporting another large loss in 2012 after early repayments of part of its substantial debt burden. Net revenues topped $2bn in 2010 and 2011 before slipping back. Performance remains mercurial, buffeted by the ebbs and flows of market sentiment, and therefore trading volumes. Karl Roessner succeeded Paul Idzik as CEO towards the end of 2016, becoming E*Trade's 6th CEO since 2007. The group also acquired rival trader OptionsHouse for $725m to widen its coverage, and that deal, combined with a surge in trading volumes in the wake of Brexit and the Trump election, prompted a sharp increase in performance for the year. As a result, revenues soared from a multi-year low of $1.37bn to a five-year high of $1.94bn. Net income more than doubled. Although it operates mainly over the internet, the company also maintains around 30 branch offices in the US. It had a little under 3.5m brokerage accounts by the end of 2016 and record customer assets of over $311bn. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

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Who are the competitors of E*Trade? See Financial Services index for other companies  

Capsule checked 28th March 2017

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