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E*Trade Names New CEO Amid Subprime-Affected Losses

NEW YORK -- The board of directors of E*Trade Financial Corp. have elected Chairman Donald Layton as its new CEO effective immediately.

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NEW YORK — The board of directors of E*Trade Financial Corp. have elected Chairman Donald Layton as its new CEO effective immediately, the company announced today.

Jarrett Lilien, who was appointed acting CEO on Nov. 29, 2007, will resume his role as president and chief operating officer and remain a director of E*Trade.

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