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

Layton’s 32 years of experience in financial services includes 29 years at JPMorgan Chase & Co. and its predecessors, serving most recently as vice chairman, and as a member of its three-person office of the chairman and its executive committee. At the time of his retirement from JPMorgan Chase, Layton was responsible for approximately half of the firm’s business, including all Chase-branded activities, which included the consumer, small business and middle market businesses; the wholesale operating services business, custody, cash management and institutional trust; and oversight of all technology.

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