Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Charles Schwab CEO Walt Bettinger to retire at end of 2024, Rick Wurster to replace him
Finance

Charles Schwab CEO Walt Bettinger to retire at end of 2024, Rick Wurster to replace him

October 1, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Charles Schwab CEO Walt Bettinger to retire at end of 2024, Rick Wurster to replace him
Share
Facebook Twitter LinkedIn Pinterest Email

Charles Schwab CEO Walt Bettinger on retirement: 'Incredibly excited' to turn it over to Rick

Charles Schwab CEO Walt Bettinger is retiring from his position on the finish of December after 16 years main the brokerage agency, the corporate introduced Tuesday.

Bettinger will probably be changed on Jan. 1, 2025, by Charles Schwab President Rick Wurster. Bettinger will stay because the co-chair of Schwab’s board.

Inventory Chart IconInventory chart icon

hide content

Charles Schwab, 5 years

In a press release, Bettinger cited his sixty fifth birthday subsequent 12 months as a cause to step apart and praised the selection of Wurster.

“The Schwab Board’s considerate and disciplined strategy to succession planning helps make this transition easy. Rick Wurster and I’ve labored collectively every day for greater than eight years. I’ve full confidence in his management, and I’m thrilled that the Schwab Board of Administrators has chosen him as my successor,” the assertion mentioned.

In an interview on CNBC’s “Squawk Field,” Wurster indicated that there wouldn’t be any rapid change in technique with the CEO handoff.

“I do not suppose there will probably be a transition within the sense that we’ll proceed what we have been doing, which is ship for our shoppers and delight them,” Wurster mentioned.

Since Bettinger took over in 2008, the corporate’s consumer belongings have grown to $9.74 trillion from $1.14 trillion, and consumer brokerage accounts have grown to greater than 43 million from fewer than 10 million. This development is due partly to Schwab’s acquisition of TD Ameritrade, which closed in 2020.

Bettinger mentioned on “Squawk Field” that the mixing of Ameritrade was accomplished earlier this 12 months and was one more reason that he thought this was an excellent time to step other than the CEO position.

Schwab’s inventory has gone up roughly 150% throughout Bettinger’s tenure, which started in the midst of the monetary disaster, but it surely has underperformed the broader market over the previous two years.

“I usually say that not many CEOs halve their firm’s inventory worth within the first 90 days, however that was just about what I walked into within the monetary disaster,” Bettinger mentioned on “Squawk Field.”

Shares of Schwab had been down about 1% in morning buying and selling Tuesday.

Watch CNBC's full interview with Charles Schwab CEO Walt Bettinger and President Rick Wurster

Source link

Bettinger CEO Charles replace retire Rick Schwab Walt Wurster
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

GM to invest $888 million for engine production at New York facility

May 29, 2025

Goldman-backed Starling Bank profit drops amid Covid loan issue

May 29, 2025

How to use a HELOC to pay off debt (and when it makes sense)

May 29, 2025

Palantir teams up with Fannie Mae in AI push to sniff out mortgage fraud

May 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

What’s Fueling the SOL Price Boom?

May 29, 2025

Bank fraud amount jumps by three times to Rs 36,014 crore in FY25: RBI | Business News

May 29, 2025

Apple iPhone 17 Air: From design to price, all we know about the Samsung Galaxy S25 Edge competitor | Technology News

May 29, 2025

GM to invest $888 million for engine production at New York facility

May 29, 2025
Popular Post

Art Cashin’s sons pay homage to NYSE legend by carrying on New Year’s poem tradition

Stocks and bonds would crash ‘violently’ in a debt crisis

Police Hunt Down Dinosaur Following South Dakota Heist

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.