Schwab and Fidelity join other Fortune 500-size companies, sticking with CDC guidelines and declining the Texas roll-back of COVID-19 restrictions

The two retail finance giants keep restrictions on thousands of staff in Texas even as governor nixes mask mandate and opens businesses 100% in the name of business interests.

Author Lisa Shidler March 6, 2021 at 5:03 AM

2 Comments

Schwab moved to Westlake for glassy, commodious digs but it'll hold off on embracing the Covid-19 all-clear from Texas.

Charles Schwab

Fidelity Investments

Charles Schwab & Co.

Randy Bullard

March 8, 2021 — 6:30 PM

Brooke, your California politics are showing. While I'm glad to know that you're a "deep believer in a slightly heavy handed approach" to government controlling your life, down here in Texas we're decidedly not big fans of ceding our rights to the government. It's a beautiful thing, living in a republic where each state can do what it wants based on the local values, in spite of journalists harrumphing about it from the coasts. Schwab and Fidelity did exactly what they were supposed to do under the Texas policy - decide for themselves. Given the falling caseloads, vaccination of at risk populations and the ability of individuals to actually be adults and decide for themselves... seems like letting companies and citizens decide for themselves again is in order. We all know our individual risks and can manage them.

Brooke Southall

March 8, 2021 — 6:47 PM

Hey Randy, Thanks for speaking up for Texans and for rightfully calling out my 'California' politics. I'm not convinced it's entirely an individual liberty issue. We ban drunk driving to save people from killing themselves. But we also ban it to save the people they take with them, right?

Related Moves

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 at 5:39 PM

Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology

The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.

March 11, 2020 at 7:58 AM

Ex-PR chief of Schwab Advisor Services reappears at StreetCred while Schwab loses a corporate PR head and gains a new one to 'protect the brand' after a rough 2023

Rob Farmer joins Jimmy Moock, Emma Smith, Will Ruben and Jason Lahita at StreetCred; Andrew Wyse, an ex-Pepsi PR honcho, joins Schwab after Joe Carberry departure in January.

April 20, 2024 at 2:54 AM

See more related moves