(Updated with stock price moves.)
NEW YORK (
was among the losers of the financial sector Monday after the online brokerage appointed an interim CEO.
named its lead independent director Robert Druskin to serve as chairman and interim CEO. Druskin will step into the role on Dec. 31, succeeding current chairman and CEO Don Layton, whose contract expires then.
E*Trade said in a press release on Monday that the hiring process for a permanent successor to Layton "continues to progress." Shares lost 3 cents, or 1.7%, to $1.75.
also traded lower after the insurer's CEO Robert Benmosche told
The Financial Times
that he expects it will take at least two years for the insurer to repay $80 billion in remaining loans from the federal government.
"The more time we
have, the greater the probability we'll pay back all of
the aid. But our goal is to pay back all of it," Benmosche told the
AIG shares were down 0.5% to $28.06.
were mixed after Thomas Weisel analysts initiated coverage of the stocks with an overweight rating and price targets of $102 and $305, respectively.
Visa shares were down 1.6% to $87.51, while MasterCard tacked on 0.2% to $255.36.
On the other hand, most bank stocks were on the rise, with
Bank of America
up 1.7% to $15.28,
adding 2.3% to $41.90, and
climbing 2.1% to $27.34.
retraced early losses to rise 0.6% to $3.42.
-- Written by Robert Holmes in Boston
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