E*TRADE FINANCIAL Corporation Profile

E*TRADE Financial Corporation (E*TRADE) is a global financial services company, offering a range of financial solutions to retail, corporate and institutional customers under the brand E*TRADE FINANCIAL. E*TRADE operates in two segments: retail and institutional. Retail customers are offered an integrated product set, including investing, trading, cash management and lending products. Institutional customers are offered access to a range of execution services through traditional sales traders and direct market access to exchanges. During the year ended December 31, 2005, the Company acquired two online discount brokerage companies, J.P. Morgan Invest, LLC (BrownCo) and Harrisdirect, LLC, as well two wealth management companies, Kobren Insight Management Inc. and Howard Capital Management, Inc. In 2005, E*TRADE sold its Consumer Finance business; exited its institutional trading business, and decided to sell its professional agency business, executing a sale agreement in February 2006. For the six months ended 30 June 2006, E*Trade Financial Corporation's revenues rose 57% to $1.82B. Net income from cont. ops. rose 42% to $299.7M. Revenues reflect higher interest income, increased transaction revenues, higher commission and higher other revenues. Net income was partially offset by higher interest expense, increased clearing & servicing costs, higher compensation & benefits expense and increased amortization of other intangibles.