Short Take: E*Trade taps exec for president post

Online brokerage E*Trade today tapped Jerry Gramaglia, formerly head of its marketing sales and services units, to become president and chief operating officer. Gramaglia replaces Kathy Levinson, effective immediately. Levinson is retiring from E*Trade to pursue "philanthropic and community service interests," the company said in a statement. Gramaglia will report to chief executive Christos M. Cotsakos. Michael Sievert, vice president and general manager of consumer markets, will take over Gramaglia's previous post to head sales and marketing.