Our Website Uses Cookies 


We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.


For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Covington Advises E*TRADE Bank in Investment

11/30/2007

NEW YORK, NY, November 30, 2007 — E*TRADE FINANCIAL Corporation has announced an agreement that will result in a cash infusion of $2.5 billion. The transaction, led by affiliates of Citadel Investment Group, includes immediate funding of approximately $2.4 billion with the remaining $150 million expected to fund by January 15, 2008. Covington & Burling LLP advised E*TRADE Bank on the transaction.

The Covington team was led by Jean Veta and Stuart Stock, who handled bank regulatory matters and Scott Smith and Stephen Infante, who advised on corporate matters. Ms. Veta and Mr. Stock are partners based in the firm’s Washington office; Mr. Smith and Mr. Infante are partners based in New York.

E*TRADE FINANCIAL, with more than 4.7 million customer accounts worldwide and $227 billion of assets under management as of October 31st, is a global financial services leader. Its banking and lending products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.

Share this article: