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Charles Schwab Corp.
Charles Schwab Corp.
The Charles Schwab Corporation
wide range of investment research, mutual funds, annuities, bond trading, and now checking and mortgages through its Charles Schwab Bank.
Type Founded Headquarters
Public (NASDAQ: SCHW) California (April 1971, as First Commander Corporation) 101 Montgomery Street, San Francisco, California, USA
Registered investment adviser firms
Key people
Employees Website
Schwab’s success depends heavily on the success of their independent investment adviser firms. Schwab serves roughly 5,000 inCharles R. Schwab, Executive dependent advisers within its network. Most Chairman & Founder Walter W. Bettinger II, CEO independent adviser firms are not affiliated Joseph R. Martinetto, CFO with any brokerage firm, are not managed by Jan Hier-King, CIO a brokerage firm, and work independently Rebecca Saeger, CMO from the brokerage firm, as adviser firms ofJay L. Allen, VP Human fer investment services to individuals or busiResources Benjamin L. Brigeman, VP nesses. These adviser firms are generally Schwab Investor Services regulated by state/local government or by the John S. Clendening, VP Solution federal government and are also governed by Services the basic principles similar to that of a broker Carrie E. Dwyer, VP Corporate and yet different when rendering objective Oversight Charles G. Goldman, VP Schwab investment advice. Institutional In 2005, the headline of a newspaper for Lisa K. Hunt, VP Schwab Investor financial advisers read Schwab battles for Development wirehouse assets announced a new strategy James D. McCool, VP Schwab Corporate & Retirement Services of shifting more accounts from the brokerage Randall W. Merk, VP Investment firms and transitioning more brokers from Management the "brokerage world" into registered investMaurisa Sommerfield, VP ment advisers. Operational Services On November 20, 2006, Schwab an13,300[1] nounced an agreement to sell U.S. Trust to Bank of America for $3.3 billion. The deal Schwab.com closed in the second quarter of 2007.
The Charles Schwab Corporation (NASDAQ: SCHW), based in San Francisco, California is a company founded as a traditional (brick-and-mortar) brokerage house, and which today is one of the world’s largest discount brokers. Schwab offers the same services as traditional brokerages but with lower commissions and fees than many other brokers. The company serves some 7 million individual and institutional clients, with $1.39 trillion in assets (as of March 31, 2008), from some 300 offices in the U.S. Clients can also access its services via telephone, wireless device, and the Internet. Besides discount brokerage, the firm offers a
Troubled times
In 2000, Charles Schwab Corporation’s merger with US Trust was complete. Synergy was never achieved between the two companies and both firms’ assets declined in the bear market of the early 2000s. The US Trust division was slapped with a $10 million fine for violation of money-laundering rules, a judgment handed down after the merger with Schwab. In 2000, Schwab was reeling from a dramatic drop-off in online trading precipitated by the tech-stock collapse. In March
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2000 Schwab acquired CyberCorp, makers of the CyberTrader trading platform. This acquisition helped bring back traders with Schwab’s now more competitive software tools, such as StreetSmart Pro. Inevitably though, they had to cut back and downsize and subsequently the revenue fell 25%. In late 2003, Schwab was one of the companies investigated by the SEC. Schwab faced allegations regarding market timing by a fund family operated by UST and illegal late trading in the Schwab Mutual Fund Marketplace. In 2004, Schwab sold Schwab Capital Markets and paid a $350,000 fine to the SEC.
Charles Schwab Corp.
what he hears. The TV ads were produced by Euro RSCG and directed/animated by Bob Sabiston’s Flat Black Films. "Talk to Chuck" ads are also seen in print media, online, billboards, and visible in branch offices.
References
[1] "Company Profile for Charles Schwab Corp (SCHW)". http://www.zenobank.com/ index.php?symbol=SCHW&page=quotesearch. Retrieved on 2008-10-22.
"Talk to Chuck" campaign
On December 1, 2004, Euro RSCG New York announced it was chosen by Charles Schwab as its full-service advertising agency. Starting in 2005, Charles Schwab launched a series of television ads. In a Slate magazine review, Ben Stuart, VP of Brand Strategy and Advertising for Schwab, said the cartoons force the viewer to focus on
External links
• Official site. • Yahoo! – The Charles Schwab Corporation Company Profile • Money Toons The distinctive animated ads from Charles Schwab • Talk to Chuck ad site • Charles Schwab Chooses Euro RSCG Worldwide • Schwab ads’ message goes for a tone of ’candid and real’
Retrieved from "http://en.wikipedia.org/wiki/Charles_Schwab_Corp." Categories: Companies listed on NASDAQ, Companies based in San Francisco, California, Financial services companies of the United States, Online brokerages, Publicly traded companies This page was last modified on 8 April 2009, at 10:01 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) taxdeductible nonprofit charity. Privacy policy About Wikipedia Disclaimers
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