Business Services Industry
Online Bank to Move Operations to San Francisco Bay Area.
Knight Ridder/Tribune Business News, August, 1999 by Berry, Kate
Knight Ridder/Tribune Business News
Aug. 20 -- Start-up online bank EOffering is pulling up stakes after just seven months, moving most of its operations from Newport Beach to the Bay area, where it also plans to name a new chief executive.
The reason for the move is to consolidate operations near the firm's largest shareholder, online broker ETrade Group Inc., a spokesman said.
Walter Cruttenden III, co-founder and chief executive officer of EOffering, had previously planned on handing the reins of the company to a new CEO. He will retain the post of chairman and stay in a smaller Newport Beach office.
EOffering, with 70 employees in two offices in Newport Beach and 90 in San Francisco, will move its research, trading and...
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