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Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once

The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.

Author Lisa Shidler May 25, 2024 at 2:45 AM
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Walt Bettinger: 'The executive team made sort of an informal pact.'
Brooke Southall and Keith Girard contributed to the editing of this article.

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October 3, 2024 at 10:12 PM

Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond

The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30

August 22, 2023 at 12:46 AM

Chuck Schwab reveals Part B, doubling-down on Walt Bettinger by making him co-chair, a day after Part A -- wagering $15 billion from the Schwab corporate treasury on the CEO's future leadership

The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.

July 30, 2022 at 12:41 AM

Schwab's Rick Wurster is green with praise • SmartAsset called out for 'profanity' over Ass mascot • Morningstar Office closure will cost millions

Robinhood's betting business is growing fast with $20 million of annual revenue already • Zoe nets $30 million in Series B raise• Roll-up buys RIA for YouTube chops • CFP Board hikes fees • Two senators could create new $5.3 trillion retirement prize.

May 6, 2025 at 12:42 AM

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