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SCHWAB CHARLES (SCHW)

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 .

  1. 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.
  2. Asset Management and Administration Fees - Collected from managing and administering client assets, including mutual funds and ETFs.
  3. Trading Revenue - Earned from facilitating securities transactions for clients.
  4. Bank Deposit Account Fees - Charged for maintaining client bank deposit accounts.
  5. 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.
  6. Advisor Services - Provides custodial, trading, banking, trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers.
  7. Brokerage Accounts - Offers platforms for clients to buy and sell securities.
  8. Mutual Funds and ETFs - Provides a range of investment funds for clients to diversify their portfolios.
  9. Advice Solutions - Delivers personalized investment advice and planning services.
  10. Alternative Investments - Offers investment options outside of traditional stocks and bonds.
  11. Banking Products - Includes a variety of banking services such as loans and deposit accounts.
  12. Trust Services - Provides trust administration and management services for clients.

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NamePositionExternal RolesShort 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.

Research analysts covering SCHWAB CHARLES.

Program DetailsProgram 1
Approval DateJuly 27, 2022
End Date/DurationNo expiration date
Total additional amount$15.0 billion
Remaining authorization$8.7 billion
DetailsReplaced a previous program that allowed for up to $4.0 billion in repurchases.
YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt
2024$6 Long-termN/A0.0% = (6 / 55,642) * 100
2024$8,900 FHLB Borrowings5.34% 16.0% = (8,900 / 55,642) * 100
2024$5,094 Other Short-Term Borrowings5.38% 9.2% = (5,094 / 55,642) * 100
2024-2025$8,093 Repurchase Agreements5.27% 14.5% = (8,093 / 55,642) * 100
2024$2,500 Secured Short-Term Borrowings5.71% 4.5% = (2,500 / 55,642) * 100
2025$2,249 Long-term3.000% - 3.850% 4.0% = (2,249 / 55,642) * 100
2025$13,700 FHLB Borrowings5.34% 24.6% = (13,700 / 55,642) * 100
2025$5,499 Other Short-Term Borrowings5.38% 9.9% = (5,499 / 55,642) * 100
2026$4,112 Long-term0.900% - 5.875% 7.4% = (4,112 / 55,642) * 100
2027$3,463 Long-term2.450% - 3.300% 6.2% = (3,463 / 55,642) * 100
2028$1,950 Long-term2.000% - 3.200% 3.5% = (1,950 / 55,642) * 100
Thereafter$10,700 Long-termVarious 19.2% = (10,700 / 55,642) * 100
NameStart DateEnd DateReason for Change
Deloitte & Touche LLP1976 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

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 press releases and 8-K filings for SCHW.

Charles Schwab highlights importance of labor market data for inflation outlook
·$SCHW
  • Inflation and labor market details matter as much as headlines; PPI maps to the Fed’s preferred PCE measure and, barring continued equity melt-up, may ease its upward pressure, though service-sector PPI could still feed into CPI.
  • Tariffs are an ongoing price driver, not a one-time reset; many firms plan to pass higher input costs—and even non-tariffed costs—onto customers rather than absorb them in margins.
  • Equity gains are narrow: mega caps inflate the S&P 500’s record highs, while only about 50% of tech stocks trade above their 50-day moving average and roughly 33% of S&P 500 constituents have outperformed over the past 1–3 months.
  • Small-cap strength tied to Fed cut expectations, yet nearly 40% of Russell 2000 firms are unprofitable or “zombies” lacking cash flow to cover debt interest, posing fundamental risks.
  • Opportunities lie outside the Magnificent 7: the S&P 500’s and Nasdaq’s top performers are small/mid caps; managers should favour higher-quality names to cushion volatility.
Aug 14, 2025, 3:13 PM
Schwab authorizes new $20 B stock buyback
·$SCHW
Product Launch
Share Buyback
Profit Warning
  • OpenAI plans to release its next AI model, GPT-5, as early as next month, according to CEO Sam Altman.
  • Starlink suffered one of its largest international outages for about two hours due to a software failure.
  • The board of Charles Schwab approved a new $20 billion stock buyback, replacing the previous plan.
  • Centene shares plunged after reporting a surprise loss of $0.16 per share versus an expected profit of $0.86.
  • An HR executive at Astronomer left the firm following a publicized personal misconduct incident at a concert.
Jul 25, 2025, 10:58 AM
Charles Schwab sees resilient growth and cautious outlook for bonds and equities
·$SCHW
Guidance Update
  • U.S. economic growth remains resilient despite tariff uncertainty and slowing real rates, supporting the view of a steeper yield curve and a weaker dollar this year.
  • Inflation and inflation expectations are trending lower, putting additional downward pressure on the short end of the curve.
  • Equity markets have enjoyed a strong rebound, but heightened volatility is expected as fiscal stimulus and trade policies play out.
  • Portfolio strategy favors high-quality equities (strong profitability, high free cash flow yields, dividends) and intermediate investment-grade bonds over high-yield credit.
Jul 21, 2025, 8:57 PM
Charles Schwab reports record Q2 2025 results
·$SCHW
Earnings
Revenue Acceleration/Inflection
Share Buyback
  • Net revenues rose 25% year-over-year to $5.851 billion in 2Q25.
  • GAAP net income was $2.126 billion (EPS $1.08), and adjusted EPS was $1.14.
  • Core net new assets totaled $80.3 billion (up 31% YoY) with over 1 million new brokerage accounts opened.
  • Total client assets reached a record $10.76 trillion, up 14% YoY.
  • Returned $2.8 billion of excess capital via preferred equity redemption and common share repurchases, and reduced bank supplemental funding by $10.4 billion.
Jul 18, 2025, 12:00 AM
Schwab highlights momentum and growth factors fueling market rally
·$SCHW
  • Momentum and growth factors are driving stocks toward near-record highs, with a focus on sustained and prospective earnings growth.
  • Market moves reflect relative outcomes and inflection points, such as April’s tariff developments and calmer-than-feared Middle East tensions, which sparked rallies when news beat expectations.
  • Retail traders, especially meme-stock and buy-the-dip participants, have left a clear imprint on the rally, prompting significant institutional short covering.
  • Institutional positioning remains cautious, suggesting room for further upside if retail enthusiasm endures, but also heightening vulnerability to negative catalysts.
Jun 24, 2025, 7:49 PM
Charles Schwab Q1 2025 Business & Financial Update
·$SCHW
Revenue Acceleration/Inflection
Earnings
Dividends
Share Buyback
Hiring
  • Record Q1 2025 net revenues of $5.6B, up 18% YoY, driven by robust organic growth and increased trading volumes .
  • GAAP EPS grew by 46% (41% adjusted), reflecting strong overall financial performance .
  • Robust asset inflows with 1.2M new accounts and core net new assets growing 44% YoY to approximately $138B (total new asset gathering of $137.7B) .
  • Record trading activity with daily average trades reaching 7.4 million .
  • Enhanced capital management: Increased common dividend by 8% and repurchased $1.5B of common stock, while reducing high-cost funding .
  • Strategic expansion: Opened around 16 new branches and added roughly 250 new financial and wealth consultants for enhanced advisory services and Ameritrade integration .
Apr 17, 2025, 12:31 PM