E*Trade could not be immediately reached for comment.
PHILADELPHIA (Reuters) - E*Trade Financial Corp. <ETFC.O> plans to give Chairman Donald Layton the additional role of chief executive officer, The Wall Street Journal reported on Sunday.
E*Trade could not be immediately reached for comment.
Layton, has been chairman of E*Trade since November, when hedge fund Citadel Investment Group injected $1.75 billion into the New York company. Citadel supports Layton's hiring but doesn't hold a seat on the E*Trade board, the newspaper reported in its electronic edition.
Former E*Trade CEO Mitch Caplan resigned in November and was succeeded on a temporary basis by Jarrett Lilien, the company's president and chief operating officer.
!ADVERTISEMENT!Lilien has been invited to stay on as president and COO, the newspaper said.
Over the next three years, E*Trade expects to write down an additional $1.5 billion on its mortgage holdings, the report said.
E*Trade and Citadel have discussed the possibility of trying to find a buyer for the home-equity portfolio, which would could pave the way for a sale of the entire company, the newspaper said.
Ed Nicoll, the former CEO of electronic-trading firm Instinet Inc., had been interviewed for the role of E*Trade's CEO, the newspaper said.
(Reporting by Jessica Hall, editing by Jacqueline Wong)
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