E*TRADE Financial Corporation announced that its Board of Directors named Frank J. Petrilli, an experienced financial services leader, as the Company's Chairman of the Board effective January 27, 2012. Steven Freiberg, Chief Executive Officer of the company, has held the role on an interim basis since the departure of Robert Druskin in May 2011. Mr. Petrilli was also appointed to the Company's Nominating and Corporate Governance Committee. Mr. Freiberg will remain on the Board and in his position as the Company's CEO. Mr. Petrilli, 61, has over 30 years' experience in investing and financial services. Most recently, he was Chief Executive Officer of Surge Trading Inc. and previously served as President and Chief Executive Officer of Nexxar Group Inc. From 1995 to 2004 he held several positions at TD Waterhouse. Prior to TD Waterhouse, he was President and Chief Operating Officer of American Express Centurion Bank. Mr. Petrilli has served on various non-profit Boards, including the American Red Cross in Greater New York, Big Brothers Big Sisters of NYC, and Fordham University.