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ETFC on NASDAQ

E-Trade

Logo: E-Trade, Public domain, via Wikimedia Commons4

American financial services company

E-Trade (stylized as E*TRADE) is an investment brokerage and electronic trading platform that operates as a subsidiary of Morgan Stanley.3 It was founded by Bernard A. Newcomb and William A. Porter.1 Its shares trade on NASDAQ under the symbol ETFC.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1982Founded1

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  • TickerETFC on NASDAQ1
  • Industryfinancial services1
  • HeadquartersNew York City1
  • Founded inPalo Alto1
  • Websitewww.etrade.com
  • Legal formpublic company1
  • Incorporated inDE5
  • Business addressBallston Tower, 671 N. Glebe Road, Arlington, Va 222035
  • Filer categoryLarge accelerated filer5

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Etrade financial center market st san francisco
Photo: Thomas Hundt, CC BY 2.5, via Wikimedia Commons7

E-Trade (stylized as E*TRADE) is an investment brokerage and electronic trading platform that operates as a subsidiary of Morgan Stanley.3

Corporate structure

E-Trade is part of a group headed by Morgan Stanley. 1,350 entities, 23 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Morgan Stanley New York, New York, United States
    • E-Trade New York City
    • MORGAN STANLEY CAPITAL MANAGEMENT, LLC New York, New York, United States
    • Morgan Stanley Capital Partners III, L.P. New York, New York, United States
      • 1 more
    • MORGAN STANLEY CAPITAL REIT INC. New York, New York, United States
    • MORGAN STANLEY COMMUNITY INVESTMENTS LLC New York, New York, United States
    • MORGAN STANLEY PRIVATE EQUITY ASIA, INC. New York, New York, United States
    • MORGAN STANLEY SENIOR FUNDING, INC. New York, New York, United States
      • 4 more
    • MS HOLDINGS INCORPORATED New York, New York, United States
      • MORGAN STANLEY HFP INVESTMENT INC. New York, New York, United States
        • 13 more
      • MORGAN STANLEY PRIVATE EQUITY ASIA IV, INC. New York, New York, United States
        • 1 more
      • EPIF Holdings GP S.a r.l. (EPIF Holdings GP S.à r.l.) Subsidiary · Luxembourg, Luxembourg
      • MORGAN STANLEY CAPITAL PARTNERS VI GP INC. Subsidiary · New York, New York, United States
        • 1 more
      • MORGAN STANLEY CAPITAL PARTNERS VII GP INC. Subsidiary · New York, New York, United States
        • 1 more
      • MORGAN STANLEY CAPITAL PARTNERS VIII GP INC. Subsidiary · New York, New York, United States
        • 1 more
      • MORGAN STANLEY CAYMAN GP LTD. Subsidiary · New York, New York, United States
      • MORGAN STANLEY FIXED INCOME GP INC. Subsidiary · New York, New York, United States
      • MORGAN STANLEY INFRASTRUCTURE HOLDINGS INC. Subsidiary · New York, New York, United States
        • 4 more
      • MORGAN STANLEY INFRASTRUCTURE III INC. Subsidiary · New York, New York, United States
        • 2 more
      • MORGAN STANLEY INFRASTRUCTURE INC. Subsidiary · New York, New York, United States
        • 1 more
      • MORGAN STANLEY INFRASTRUCTURE IV INC. Subsidiary · New York, New York, United States
        • 2 more
      • Morgan Stanley Infrastructure Partners III GP LP Subsidiary · New York, New York, United States
      • MORGAN STANLEY NEXT LEVEL FUND GP, LLC Subsidiary · New York, New York, United States
      • MORGAN STANLEY PRIVATE EQUITY INDIA CV INC. Subsidiary · New York, New York, United States
      • Morgan Stanley Private Equity India Inc. Subsidiary · New York, New York, United States
        • 1 more
      • MORGAN STANLEY REAL ESTATE SECURITIES GLOBAL BEST IDEAS GP INC. Subsidiary · New York, New York, United States
      • MS ALTERNATIVES FUNDING, INC. Subsidiary · New York, New York, United States
        • 1 more
      • MS ALTERNATIVES HOLDING C INC. Subsidiary · New York, New York, United States
        • 2 more
      • MS ALTERNATIVES HOLDING D INC. Subsidiary · New York, New York, United States
      • MS ARS HOLDING A INC. Subsidiary · New York, New York, United States
      • MS CAPITAL PARTNERS CV GP LLC Subsidiary · New York, New York, United States
      • MS CAPITAL PARTNERS W50 CV GP LLC Subsidiary · New York, New York, United States
      • MS CREDIT PARTNERS II GP INC. Subsidiary · New York, New York, United States
        • 1 more
      • MS CREDIT PARTNERS III GP INC. Subsidiary · New York, New York, United States
        • 1 more
      • and 40 more
    • MSREI HOLDING, INC. New York, New York, United States
      • MESA WEST CAPITAL, LLC New York, New York, United States
        • 12 more
      • North Haven Net REIT Lutherville Timonium, Maryland, United States
        • 1 more
      • MORGAN STANLEY REAL ESTATE FUND, INC. Subsidiary · New York, New York, United States
      • MSREI IX GLOBAL-GP, L.P. Subsidiary · Calgary, Alberta, Canada
      • MSREI NET REIT SLP GP LLC Subsidiary · New York, New York, United States
        • 1 more
    • SOLIUM CAPITAL (AUSTRALIA) PTY LTD Sydney, Australia
    • SOLIUM CAPITAL UK LIMITED London, United Kingdom
      • SOLIUM SHAREWORKS ESPAÑA SL Barcelona, Spain
        • 1 more
      • SOLIUM TRUSTEE (JERSEY) LIMITED Subsidiary · St. Helier, Jersey
      • SOLIUM TRUSTEE (UK) LIMITED Subsidiary · London, United Kingdom
    • STRATEGIC INVESTMENTS I, INC. New York, New York, United States
      • 2 more
    • Netflix Subsidiary · 5.34% · Los Gatos
      • 6 more
    • BYD Company Subsidiary · 3.59% · 深圳市, China
      • 4 more
    • Morgan Stanley Wealth Management Subsidiary · Purchase
    • OLCO Petroleum Group Subsidiary · Montreal
    • Just Eat Takeaway Stake · 18.06% · Amsterdam, Netherlands
      • 7 more
    • Uber Stake · 5.12% · San Francisco, California, United States
      • 18 more
    • Northrop Grumman Corporation Stake · 2.58% · Wilmington, Delaware, United States
      • 19 more
    • RTX Stake · 2.21% · Wilmington, Delaware, United States
      • 142 more
    • The Coca-Cola Company Stake · 2.17% · Atlanta, Georgia, United States
      • 67 more
    • ASHBRIDGE ANNEX FUND I LP Subsidiary · West Conshohocken, Pennsylvania, United States
    • ATSF II AGGREGATOR (ONTARIO), LP Subsidiary · Toronto, Ontario, Canada
    • BAYFINE DE INC. Subsidiary · Wilmington, Delaware, United States
    • Bayforest CAV Master, LP Subsidiary · West Conshohocken, Pennsylvania, United States
    • and 201 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

What it owns

What E-Trade reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$846.0M8 Dec 31, 2019$827.0M8 Dec 31, 2018+2.3%
Accumulated depreciation$507.0M8 Dec 31, 2019$546.0M8 Dec 31, 2018−7.1%
Property and equipment, net$339.0M8 Dec 31, 2019$281.0M8 Dec 31, 2018+20.6%
Operating-lease assets (leased space)$195.0M8 Dec 31, 2019$193.0M9 Dec 31, 2018+1.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$750.0M8 Dec 31, 2019$2.3B8 Dec 31, 2018−67.9%
Debt securities available for sale$19.5B8 Dec 31, 2019$23.2B8 Dec 31, 2018−15.8%
Debt securities held to maturity$22.0B8 Dec 31, 2019$21.9B8 Dec 31, 2018+0.4%
Loans, net of allowance$1.6B8 Dec 31, 2019$2.1B8 Dec 31, 2018−24.2%
Deposits held (banks)$38.6B8 Dec 31, 2019$45.3B8 Dec 31, 2018−14.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.5B8 Dec 31, 2019$2.5B8 Dec 31, 2018+1.0%
Intangible assets, net (excluding goodwill)$433.0M8 Dec 31, 2019$491.0M8 Dec 31, 2018−11.8%
Finite-lived intangibles, gross$861.0M8 Dec 31, 2019$858.0M8 Dec 31, 2018+0.3%
Accumulated amortization$428.0M8 Dec 31, 2019$367.0M8 Dec 31, 2018+16.6%
Finite-lived intangibles, net$433.0M8 Dec 31, 2019$491.0M8 Dec 31, 2018−11.8%

The story

Founded by Bernard A. Newcomb and William A. Porter in 1982, in Palo Alto.1

In 1982, physicist William A. Porter and Bernard A. Newcomb founded TradePlus in Palo Alto, California, with $15,000 in capital. In 1983, it launched its first trade via a Compuserve network. In 1992, Porter and Newcomb founded E-Trade and made electronic trading available to individual investors.

On August 16, 1996, the company (by then known as the E-Trade Financial Corporation) became a public company via an initial public offering. The company sold 5,665,000 shares of its common stock for $10.50 per share under the stock ticker "ETFC" on the NASDAQ stock exchange. The company figured prominently in the dot-com bubble, as both a way to speculate in internet stocks and an internet stock itself.

In October 2020, the company was acquired by Morgan Stanley.

Management history

In November 2007, Mitch Caplan resigned as CEO and Citadel LLC received a seat on the board of directors of the company after Citadel invested $2.5 billion in the company to bolster its finances after it suffered losses due to the bursting of the 2000s United States housing bubble.

In March 2008, E-Trade named Donald Layton, formerly JPMorgan Chase vice chairman, its new CEO. Layton had joined E-Trade's board of directors in November 2007, at the same time as the Citadel LLC deal.

In December 2009, Robert Druskin, a former chief operating officer of Citigroup, was named interim CEO and chairman.

On March 22, 2010, Steven Freiberg was named CEO. Freiberg was the former co-CEO of Citigroup's global consumer group and the former head of its credit card unit.

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.

Read the full text

In September 2016, Karl A. Roessner, E-Trade's general counsel since 2009, was appointed CEO.

On August 14, 2019, Michael Pizzi was appointed CEO.

From Wikipedia’s article on E-Trade, shared under CC BY-SA 4.0.6

Leadership

Who has led E-Trade, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. R. Jarrett Lilien2008
  2. Donald H. Layton2008–2009
  3. Steven J. Freiberg2010–2012
  4. Paul Idzik2013–2016
  5. Karl A. Roessner2016–2019
  6. Michael A. Pizzi2019–2020

Chair

  1. Donald H. Layton2008–2009
  2. Rodger A. Lawson2017–2019

President

  1. R. Jarrett Lilien2006–2008
  2. Navtej S. Nandra2013–2015

Chief financial officer

  1. Matthew J. Audette2008–2015
  2. Bruce P. Nolop2008–2011
  3. Michael A. Pizzi2015–2019
  4. Chad E. Turner2018–2020

Chief operating officer

  1. R. Jarrett Lilien2006–2008
  2. Greg Framke2012
  3. Michael A. Pizzi2018–2019
1990200020102020
Board members and other officers (46)

Products and brands

Products and services

E-Trade offers commission-free trading on U.S.-listed stocks, exchange-traded funds, and options since October 2019. In December 2022, the platform eliminated all mutual fund commissions and early redemption fees, providing access to over 4,400 no-transaction-fee mutual funds. In December 2024, E-Trade announced five proprietary zero-expense-ratio index funds exclusive to its platform.

Through Morgan Stanley at Work, E-Trade administers equity compensation plans for approximately 40% of S&P 500 companies and 60% of Nasdaq-100 companies, serving over 24,000 corporate clients and approximately 12 million workplace participants.

Technology

E-Trade operates three trading platforms: E*TRADE Web for mainstream investors, Power E*TRADE for advanced web and mobile trading, and Power E*TRADE Pro, a downloadable desktop platform launched in July 2025 offering up to six custom workspaces with 120 charting tools across multiple monitors.

In September 2025, Morgan Stanley announced plans to offer cryptocurrency trading through E-Trade in the first half of 2026, partnering with Zerohash for liquidity, custody, and settlement infrastructure. The offering is expected to include Bitcoin, Ethereum, and Solana.

From Wikipedia’s article on E-Trade, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Parent company

From Wikidata.1

Acquisitions

On February 20, 2020, Morgan Stanley announced the acquisition of E-Trade in an all-stock transaction valued at approximately $13 billion, the largest U.S. bank acquisition since the 2008 financial crisis. E*TRADE shareholders received 1.0432 Morgan Stanley shares per E-Trade share, representing a 30.7% premium. The deal closed on October 2, 2020, following Federal Reserve approval. At closing, E-Trade had 5.2 million client accounts and over $360 billion in retail client assets.

Between March and September 2023, E-Trade brokerage accounts were migrated to Morgan Stanley systems in phases, with the final wave completed over the Labor Day weekend in September 2023. The E-Trade brand was retained, operating as "E*TRADE from Morgan Stanley."

From Wikipedia’s article on E-Trade, shared under CC BY-SA 4.0.6

Former names

  • E TRADE GROUP INCJun 7, 1996 to Oct 1, 20035

Timeline

  1. Aug 19, 2019New chief executive Michael A. Pizzi becomes CEO10
  2. Sep 14, 2016New chief executive Karl A. Roessner becomes CEO11
  3. Jan 23, 2013New chief executive Paul Idzik becomes CEO12
  4. Apr 5, 2010New chief executive Steven J. Freiberg becomes CEO13
  5. Mar 4, 2008New chief executive Donald H. Layton becomes CEO15
  6. Jan 30, 2008New chief executive R. Jarrett Lilien becomes CEO14
  7. 1982Founded Founded in Palo Alto1

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Oct 2, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseExchange$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How E-Trade is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARE TRADE FINANCIAL CORP2
  • CIK0001015780
  • Employer ID (EIN)94-28441662
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)6035 Savings Institution, Federally Chartered2
  • Business addressBallston Tower, 671 N. Glebe Road, Arlington, VA 222032
  • Phone64652143402
  • Shares outstanding221,096,380 as of Aug 3, 202068
  • Public float$7.4B as of Jun 30, 20198
  • On EDGAR sinceJun 7, 19962
  • Filings1,902 in all: 4 (807), 8-K (332), 10-Q (71), 3 (63), SC 13G/A (61), 4/A (41), 424B3 (39), SC 13G (35)2
    All 65 form types

    SC 13D/A (33), 425 (29), DEF 14A (26), S-3 (26), S-8 POS (26), 10-K (24), POS AM (22), UPLOAD (20), 424B5 (19), DEFA14A (19), S-3/A (19), S-8 (19), 424B2 (18), CORRESP (17), FWP (14), 8-K/A (9), 424B4 (8), S-3ASR (8), S-4/A (7), SC 13D (7), 10-K/A (6), 424B7 (5), 5 (5), PRE 14A (5), S-1/A (5), 10-Q/A (4), 8-A12B (4), S-4 (4), SC TO-T/A (4), 8-A12B/A (3), ARS (3), CT ORDER (3), 25-NSE (2), 3/A (2), DEFR14A (2), DEFS14A (2), POSASR (2), PRES14A (2), S-1 (2), 10-QT (1), 144 (1), 15-12B (1), 25 (1), 40-APP (1), 40-APP/A (1), 5/A (1), CERTNAS (1), CERTNYS (1), DEFM14A (1), NO ACT (1), POS EX (1), PRER14A (1), S-1MEF (1), S-2MEF (1), SC TO-T (1), T-3 (1), T-3/A (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2020
    Quarterly report (10-Q) Aug 5, 2020
    Proxy statement (DEF 14A) Mar 24, 2020
    Latest 8-K (8-K) Oct 2, 2020

Sources

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