ETrade Financial’s chief financial officer (CFO) Bruce Nolop will retire at year-end and Matthew Audette, ETrade’s corporate controller since 2005, will succeed Nolop as CFO. Nolop will assist the transition in an executive advisory capacity through the first quarter of 2011.
CFO since September 2008, Nolop oversaw ETrade’s 2009 recapitalisation, which raised US$733m in equity through public offerings and exchanged US$1.7bn of interest bearing debt.
As CFO, Audette will oversee ETrade’s finance and accounting functions, including financial reporting, planning, tax, corporate-related treasury functions, investor relations, and corporate communications. As a member of the executive management team, he will work across the organization to continue to strengthen financial processes and optimise value for the company.
Audette joined ETrade in 2000, when the company acquired ETrade Bank (formerly Telebank). Prior to his current role of senior vice president (SVP), corporate controller, he held positions of increasing responsibility at ETrade Bank, including controller in the capital markets group, Controller of ETrade Bank, and CFO of ETrade Bank. Audette began his career in public accounting at KPMG, and holds a BSc in accounting from Virginia Tech.
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