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E-Trade names Sclafani to risk committee



By AP
01 July 2008 @ 09:42 am EST

NEW YORK - E-Trade Financial Corp. on Tuesday named Joseph Sclafani to the finance and risk oversight committee of its board.

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Sclafani is a former executive vice president and controller at JPMorgan Chase & Co..

E-Trade has struggled in recent periods after making wrong-way bets on mortgage-related securities. The online brokerage has since gotten out of that financial area.

E-Trade shares fell 3 cents to $3.11 in morning trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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