Charles Schwab announced on October 1, 2024, that CEO Walt Bettinger will retire from his role at the end of December 2024, after 16 years leading the brokerage firm. Bettinger will continue to serve as co-chairman of Schwab's board.
Rick Wurster, who has served as Schwab's president since 2021, will succeed Bettinger as CEO on January 1, 2025. Under Bettinger's tenure, client assets at the company grew from $1.14 trillion to $9.74 trillion, and client brokerage accounts expanded from fewer than 10 million to over 43 million.
Wurster indicated that there would be no immediate change in strategy with the CEO transition, stating the company will continue its focus on client delivery. The successful integration of TD Ameritrade, completed earlier in 2024, was cited by Bettinger as a reason for his decision to step aside.
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