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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