Charles Schwab Corporation
USINFO | 2013-07-05 11:46
Charles Schwab Corporation
Type Public
Traded as NYSE: SCHW
S&P 500 Component
Founded April 1971 (as First Commander Corporation)
Headquarters San Francisco, California, U.S.
Key people Charles R. Schwab, Founder & Chairman
Walter W. Bettinger, CEO
Revenue US$4.19 billion (FY 2009)
Operating income US$1.28 billion (FY 2009)
Net income US$787 million (FY 2009)
AUM US$1.49 trillion (FY 2009)
Total assets US$75.4 billion (FY 2009)
Total equity US$5.07 billion (FY 2009)
Employees 12,500
Website www.schwab.com

The Charles Schwab Corporation is an American brokerage and banking company, based in San Francisco, California. It was founded in 1971 by Charles R. "Chuck" Schwab, as a traditional, brick and mortar brokerage firm and investment newsletter publisher. In 1973, the company name changed from First Commander Corporation to Charles Schwab & Co., Inc. The company started offering discount brokerage on May 1, 1975, and became one of the world's largest discount brokers.

Schwab offers the same services as a traditional brokerage, but with lower commissions and fees. The company serves 7.9 million client brokerage accounts, with $1.65 trillion in assets (as of September 2011), from over 300 offices in the U.S, one office in Puerto Rico, and one branch in London. Clients can also access services online and by telephone. In addition to discount brokerage, the company also offers services such as investment research, mutual funds, annuities, bond trading, checking, savings, and mortgages.
In 2009, Chairman Charles R. Schwab received the inaugural Tiburon CEO Summit award for Maintaining a Focus on Consumer Needs.
 
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