ONLINE TRADING
Call it the short boom. In the space of two years, Internet stockbrokers went from fringe to mainstream. An estimated 1.4 million households trade online, totaling over one-fifth of retail stock deals in the US. But the short boom brought on a flood of competitors - more than 80 - for pioneers like E*Trade. To stay afloat, E*Trade has dedicated itself to multinational operations and tapped former Fedex international marketing specialist Judy Balint to plug the company into markets from Taiwan to Belgium.
Balint's team has already sealed deals in 32 countries. E*Trade Canada and Australia are up and trading, and Softbank has committed US$400 million to the company - in part to fund its entry into the Japanese market. Balint beat the Masters of the Universe with a sword and velvet glove. Her strategy: Partner with local outfits and take a minority position in each, but keep E*Trade's brand out in front.
The dealmaker's cosmopolitan savvy dates to her youth. Born in Hungary, Balint emigrated to the US after escaping through a Soviet-patrolled frontier. She's since reunited with family in Budapest and, yes, launched E*Trade's online brokerage there.
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