Magazine article American Banker


Magazine article American Banker


Article excerpt

Clicking with Mick

E-Trade Financial, the diversified financial services unit of E-Trade Group Inc., will be a sponsor of the Rolling Stones' worldwide tour, set to kick of Sept. 5 in Boston.

The Menlo Park, Calif., brokerage, which has sponsored tours by other 1960s- and '70s-era musicians including Tina Turner and Diana Ross, sees the deal as a way to strike a chord with current and prospective customers, said Connie Dotson, E-Trade's chief marketing officer.

The Stones are "one of the greatest bands -- they span multiple generations," Ms. Dotson said.

As the "presenting" sponsor, E-Trade gets to put its name even on routine notices for the tour. It will get to piggyback on the Rolling Stones-funded media and will run its own television, radio, print, and outdoor ads.

E-Trade has reserved a few blocks of concert tickets that its customers can buy, Ms. Dotson said.

Subject Is Objectivity

Chuck Schwab and Dave Pottruck, the co-chief executive officers of Charles Schwab Corp., were in New York Thursday to tout Schwab's plan to offer investment advice it claims is more objective than the usual Wall Street fare.

Schwab, taking a page from Merrill Lynch & Co., has been working on its hands-on investment advice model for a year.

The San Francisco company launched an campaign Thursday that proclaims, "There's never been a better time for Charles Schwab."

Times have been better for Merrill Lynch, which is negotiating with New York Attorney General Eliot Spitzer over allegations that its research department issued biased stock research to prop up its investment banking unit and that it misled individual investors.

Schwab unveiled its answer to the analyst-conflict-of-interest problem Thursday : no more analysts.

The Schwab Equity Ratings system makes computer-generated evaluations of the top 3,000 stocks by market capitalization. …

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