E*TRADE Financial Corp. has pushed the expected closing date of its pending acquisition for Capital One Financial Corp. retail brokerage accounts to the fourth quarter from the third quarter, CEO Karl Roessner said during an investor conference.
Roessner said the company moved the closing time range to help ensure a smooth transition for customers. He added that he wants Capital One customers to be open to communications from E*TRADE and retain as many of them as possible.
"We don't want to leave anything to chance or rush that acquisition," he said June 6 during the Sandler O'Neill Global Exchange and Brokerage Conference in New York.
Roessner also touted the merits of the $170 million deal. "It's not often that you get the opportunity to purchase a million new accounts for the price that we did," Roessner said.
He said the Capital One clients are not as active as the average E*TRADE customer. However, Roessner said E*TRADE can offer tools, education and services that can increase the engagement.
"It's a phenomenal opportunity for us," he said.
