Interim CEO Frank J. Petrilli, who has served since August, 2012, will continue as Chairman.
Rodger A. Lawson will step down as Lead Independent Director, a role he has served since August 2012, but will remain on the Board.
'Paul brings great strengths to our business at this very important time for our company', Petrilli said in making the announcement. 'Paul is recognized in the financial services industry for his strong leadership skills and his demonstrated ability to deliver results and create shareholder value. As a seasoned senior executive, he has a proven track record of building strong teams, and working with multiple stakeholders. Paul is the right person to lead E*TRADEas we continue to execute on our strategic and capital plan'.
'I look forward to joining E*TRADEand working with its management team', Idzik said. 'E*TRADE has great strengths, from its iconic brand to its industry-leading technology and its world-class product and service offerings. These will serve the company well as we work to grow the franchise and deliver value to shareholders'.
About Paul T. Idzik
Paul T. Idzik, 51, was most recently Group Chief Executive of DTZ Holdings PLC in London. He also served 10 years at Barclays PLC, most recently as Group Chief Operating Officer and before that as Chief Operating Officer of Barclays Capital. He oversaw all key functional units, including Information Technology and Operations, HR, Corporate Communications, Sourcing and Procurement, and all strategy for Barclays.
Idzik started his career as a consultant, and spent more than a decade with Booz Allen Hamilton, where he was a partner in the Financial Services practice. He advised retail, commercial, and investment banks on strategy and performance enhancement.
He also sits on the Board of Trustees of the Oxford Philomusica, Oxford's professional symphony orchestra.
Idzik has BAs in Economics and Computer Applications from the University of Notre Dame and an MBA in Finance from the University of Chicago.