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E*TRADE Financial Appoints James Lam to Board of Directors and Chair of the Risk Oversight Committee

  E*TRADE Financial Appoints James Lam to Board of Directors and Chair of the
  Risk Oversight Committee

Business Wire

NEW YORK -- November 15, 2012

E*TRADE Financial Corporation (NASDAQ: ETFC) today announced James Lam has
been appointed to the Company’s Board of Directors, effective November 14,
2012. Mr. Lam also has been named Chair of the Risk Oversight Committee, and a
member of the Audit Committee.

“James’s many years of experience as chief risk officer for two of the world’s
leading and most admired financial services institutions, and his position as
a recognized leader in the development of enterprise risk management best
practices, will be invaluable as we execute E*TRADE’s strategic plan and
sharpen our operational focus,” said Frank Petrilli, interim CEO and chairman
of the board.

An executive with over 25 years of experience in risk and business management,
Mr. Lam is widely noted as the first ever chief risk officer and an early
advocate of enterprise risk management. He previously served as founder and
president of ERisk, chief risk officer of Fidelity Investments, and chief risk
officer of GE Capital Markets Services, Inc.

Mr. Lam is currently president of James Lam & Associates, a consultancy
singularly focused on risk management. The company was recognized by Forrester
Research as among a select number of consulting firms with extensive risk
capabilities across all major industries. His firm works with corporate
directors and executives of large, complex organizations including global
banks, brokerage firms, insurance companies, asset managers, non-financial
corporations, regulatory agencies, and non-profit organizations. In a
Euromoney survey, Mr. Lam was nominated by clients and peers as one of the
leading risk consultants in the world.

Mr. Lam graduated summa cum laude with a BBA from Baruch College in 1983, and
received an MBA with honors from UCLA in 1989. In 2004 he was appointed senior
research fellow at Peking University. Mr. Lam has taught MBA classes at Babson
College and the Hult International Business School, and has guest lectured at
Harvard Business School as the subject of a HBS case study.

About E*TRADE Financial

The E*TRADE Financial family of companies provides financial services
including online brokerage and related banking products and services to retail
investors. Specific business segments include Trading and Investing and
Balance Sheet Management. Securities products and services are offered by
E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are
offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries and affiliates. More information is available at www.etrade.com.
ETFC-G

Important Notices

E*TRADE Financial, E*TRADE and the E*TRADE logo are trademarks or registered
trademarks of E*TRADE Financial Corporation.

Contact:

E*TRADE Financial Media Relations Contact
Robert Horton, 646-521-4418
mediainq@etrade.com
or
E*TRADE Financial Investor Relations Contact
Brett Goodman, 646-521-4406
brett.goodman@etrade.com