SAN FRANCISCO, Feb. 21 /PRNewswire-FirstCall/ -- The Charles Schwab
Corporation (Nasdaq: SCHW) today announced the appointment of Walt
Bettinger to President and Chief Operating Officer, effective immediately.
Bettinger, 46, is currently Executive Vice President and head of Schwab
Investor Services, which provides a broad array of investment services for
individuals and corporate clients. The Schwab Investor Services business
serves more than 5.2 million accounts and $671 billion in client assets. In
his new role as President and Chief Operating Officer, Bettinger will now
oversee the company's operating businesses - Schwab Investor Services,
Schwab Institutional and Schwab Corporate & Retirement Services - as well
as mutual funds, banking, technology and operations. Bettinger will
continue to report to Mr. Schwab, Chairman and CEO, as will the finance,
corporate oversight, human resources and marketing functions.
"Walt and I have worked closely together at Schwab for more than 10
years, and we share a personal commitment to helping our clients achieve
their financial goals, so it is gratifying to have him advance into this
expanded leadership role," Mr. Schwab said. "Walt is an accomplished leader
with a track record of success, and he has earned the Board's and my utmost
confidence and respect. In his last 3 years in Schwab Investor Services, he
led his team to tremendous improvements in both client service and
financial performance, and he has positioned the business for continued
growth. I am counting on Walt to continue with the successful strategies we
have initiated, while partnering closely with me on all our corporate
initiatives going forward."
Mr. Bettinger said, "It is a great honor to be able to serve all of
Schwab's clients, whether individual investors, registered investment
advisors, or corporate benefit plan sponsors, and to help lead an
organization like Schwab with its long-standing commitment to values,
ethics and client focus. Our clients are looking to us to bring them the
full range of our capabilities, and our opportunity to have a positive
impact on people's lives has never been greater than it is today. My
primary focus will be to work closely with our senior management team to
further improve the client experience and enhance coordination among our
various businesses as we continue growing."
Prior to assuming his current role in December 2005, Bettinger was
Chief Operating Officer of the Individual Investor Enterprise. Previously,
he served as President of Schwab Corporate Services, President of Schwab
Retirement Plan Services, Inc. and as Chairman of the Board, President and
Chief Executive Officer of The Charles Schwab Trust Company.
Before joining Schwab, Bettinger founded The Hampton Company, a
provider of retirement plan services to corporations and their employees,
in 1983 at the age of 22. In 1995, The Charles Schwab Corporation acquired
Hampton. Bettinger is a summa cum laude graduate of Ohio University with a
degree in finance and investments. He has also completed the General
Management program offered by the Harvard Business School.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.8 million client
brokerage accounts, 570,000 corporate retirement plan participants, 149,000
banking accounts, and $1.3 trillion in client assets as of January 31,
2007. Through its operating subsidiaries, the company provides a full range
of securities brokerage, banking, money management and financial advisory
services to individual investors and independent investment advisors. The
Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage
services and products. More information is available at http://www.schwab.com.
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Media: Greg Gable, +1-415-636-5847, or
Investors/Analysts: Rich Fowler, +1-415-636-9869, both of Charles
Schwab
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