MutualFundWire.com: E*Trade Fund Head to Resign

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Wednesday, January 19, 2000

E*Trade Fund Head to Resign

Brian Murray, the president of E*Trade Asset Management since its start in early 1999, has tendered his resignation to the Menlo Park, CA-based online broker.

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Murray told the MFWire.com that he would be leaving the company sometime in late February or early March in order to pursue "other opportunities." While he was not clear on the reasons for his departure, it could be implied that the recent hiring of Amy Errett, ex-CEO of Spectrem Consulting as "chief asset gathering officer" could affect his position within the company. Errett has been hired in a role that would give her seniority to Murray, as she will report directly to Kathy Levinson, president and chief operating officer of E*TRADE Group,

E*Trade launched its first propietary mutual funds in early 1999, and has since added to its family several times over the year, sticking to a formula of low-cost index funds. This strategy was also employed by Charles Schwab, Murray's previous employer when it first launched a mutual fund family.

Printed from: MFWire.com/story.asp?s=25455

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