You might also like
The Charles Schwab Corporation (CSC) is a savings and loan holding company that operates through its subsidiaries to provide a wide range of financial services, including wealth management, securities brokerage, banking, asset management, custody, and financial advisory services . Schwab's business is divided into two main segments: Investor Services and Advisor Services, offering products such as brokerage accounts, mutual funds, exchange-traded funds (ETFs), advice solutions, alternative investments, banking products, and trust services . The company's largest sources of net revenues are net interest revenue, asset management and administration fees, trading revenue, and bank deposit account fees .
- Net Interest Revenue - Generated from interest-earning assets such as high-quality fixed income securities, margin loans, and bank loans, funded by uninvested client cash balances.
- Asset Management and Administration Fees - Collected from managing and administering client assets, including mutual funds and ETFs.
- Trading Revenue - Earned from facilitating securities transactions for clients.
- Bank Deposit Account Fees - Charged for maintaining client bank deposit accounts.
- Investor Services - Offers retail brokerage, investment advisory, banking, and trust services to individual investors, as well as retirement plan services and corporate brokerage services to businesses and their employees.
- Advisor Services - Provides custodial, trading, banking, trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers.
- Brokerage Accounts - Offers platforms for clients to buy and sell securities.
- Mutual Funds and ETFs - Provides a range of investment funds for clients to diversify their portfolios.
- Advice Solutions - Delivers personalized investment advice and planning services.
- Alternative Investments - Offers investment options outside of traditional stocks and bonds.
- Banking Products - Includes a variety of banking services such as loans and deposit accounts.
- Trust Services - Provides trust administration and management services for clients.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Walter W. Bettinger II ExecutiveBoard | Co-Chairman of the Board, CEO | Trustee of Schwab-affiliated investment funds | CEO since 2008, retiring Dec. 31, 2024. Oversaw growth from $1.14T to $9.74T in client assets. Will remain as Executive Co-Chairman starting Jan. 1, 2025. | View Report → |
Jonathan M. Craig Executive | Managing Director, Head of Investor Services and Marketing | None | Joined Schwab in 2000. Leads Investor Services and Marketing. Previously Chief Marketing Officer. | |
Michael Verdeschi Executive | Managing Director, CFO | None | Appointed CFO effective Oct. 1, 2024. Previously Deputy CFO and Treasurer at Citigroup. | |
Nigel J. Murtagh Executive | Managing Director, Chief Risk Officer | None | Chief Risk Officer since 2012. Oversees risk management strategies. Joined Schwab in 2000. | |
Peter B. Crawford Executive | Managing Director, CFO | Director of Charles Schwab Investment Management, Inc. | CFO since 2017. Played a critical role in financial operations and strategic planning. Announced intent to retire, but no effective date yet. | |
Richard A. Wurster Executive | President | None | President since 2021. Appointed as CEO effective Jan. 1, 2025. Joined Schwab in 2016, previously CEO of Schwab Investment Management and other subsidiaries. | |
Arun Sarin Board | Director | Director at Accenture, Chairman at Cerence Inc., Director at Ola Electric Mobility | Director since 2009. Former CEO of Vodafone Group. Brings expertise in IT, cybersecurity, and strategic planning. | |
Carrie Schwab-Pomerantz Board | Director | Chair Emeritus of Boys & Girls Clubs of America; Board Member at Haas School of Business | Joined Schwab in 1983. Former President of Charles Schwab Foundation. Advisor to two U.S. presidential administrations on financial literacy. | |
Charles R. Schwab Board | Co-Chairman of the Board | None | Founder of Charles Schwab & Co., Inc. (1971) and director since 1986. Former CEO and Chairman. Instrumental in shaping the company into a leader in wealth management and brokerage. | |
Marianne C. Brown Board | Director | Director at Northrop Grumman, Akamai Technologies, and IBM | Joined SCHW board in 2020. Former COO at Fidelity National Information Services and SunGard Financial Systems. Extensive financial technology expertise. | |
Paula A. Sneed Board | Director | Chairman and CEO of Phelps Prescott Group | Director since 2002. Former EVP at Kraft Foods. Brings marketing and governance expertise. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TD Ameritrade | 2020 | **Completed acquisition by Charles Schwab on October 6, 2020. ** The deal was structured as a stock exchange where TD Ameritrade shareholders received 1.0837 shares of Schwab common stock, with approximately 586 million shares issued (509 million common and 77 million nonvoting). The provisional purchase price was about $21.758 billion, and the acquisition brought in around 29 million brokerage accounts with $6 trillion in client assets, requiring regulatory approvals and an integration expected to last 18 to 36 months. |
Recent developments and announcements about SCHW.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMFinancial ExhibitsRegulation FD DisclosureView full 8-K filing →Charles Schwab announced a secondary offering by TD Group US Holdings LLC, exiting its 10.1% stake (184.7M shares). The Company also set a $1.5B share repurchase agreement, with closing expected immediately after the offering.