E*TRADE Financial Corporation announced two additions to its executive leadership team. Navtej S. Nandra will join as President, effectively immediately. Liza Landsman will join as Chief Marketing Officer by the end of May. As President of E*TRADE Financial Corporation, Navtej S. Nandra is responsible for overseeing management of E*TRADE's core domestic retail franchise. Mr. Nandra joins the Company from Morgan Stanley, where he served as Head of International for Morgan Stanley Investment Management, growing international assets under management over 60% during his tenure. Prior to joining Morgan Stanley, Mr. Nandra held senior management roles at Merrill Lynch, first as Chief Operating Officer of Global Investment Banking, and subsequently as Head of Diversified Financial Services and Chief Operating Officer of Global Wealth Management. As Chief Marketing Officer, Liza Landsman will be charged with driving all aspects of the Company's marketing and advertising strategy. Ms. Landsman brings a wealth of knowledge, with over 18 years of experience driving customer engagement strategies, including through internet, mobile, digital and social media. Most recently, Ms. Landsman worked at Blackrock as Global Head of Digital where she was responsible for defining, analyzing, and executing the digital marketing strategy.

E*TRADE Financial Corporation CEO Paul Idzik decided to eliminate the company's chief technology and operations officer position on April 18, 2013 earnings call. Gregory Framke, who previously served as COO, left the company in March 2013.

E*TRADE Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $35 million or $0.12 per basic and diluted share on total net revenue of $420 million compared with net income of $63 million or $0.22 per basic and diluted share on total net revenue of $489.4 million in the first quarter of 2012. Income before other income (expense) and income tax expense (benefit) was $81.7 million compared to $111.2 million reported a year ago. Income before income tax expense (benefit) was $57.4 million compared to $66 million reported a year ago. Operating interest income was $300.1 million compared to $362.3 million reported a year ago. Book value per share was $17.27 as at March 31, 2013 compared to $17.63 as at March 31, 2012. Tangible book value per share was $10.70 as at March 31, 2013 compared to $10.87 as at March 31, 2012. EBITDA was $115.1 million compared to $139.7 million reported a year ago. Earnings before interest, taxes, depreciation & amortization were $115.1 million against $139.7 million a year ago. Net operating interest income for the first quarter was $241 million, down from $260 million in the prior quarter and $285 million a year ago. First quarter results reflected a net interest spread of 2.30% on average interest-earning assets of $40.9 billion, compared with a net interest spread of 2.38% on average interest-earning assets of $42.9 billion in the prior quarter. Net charge-offs in the quarter were $68 million compared to $101.94 million reported a year ago. Net impairment was $1.2 million compared to $3.5 million reported a year ago.