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Wall Street hammers Charles Schwab Corp. shares and blasts management 'execution' after Tuesday's surprise unveiling of budding mega-outsource deal with its biggest shareholder, TD Bank

The Westlake, Texas giant's shares fell 5.4% today after plummeting 10% yesterday; analyst see the bank's risk retreat as a concession the March 2023 interest rate crisis has done 'permanent' damage.

Author Lisa Shidler July 18, 2024 at 1:43 AM
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Walt Bettinger: We want to make sure that we maintain sufficient deposits at our bank to, again, fund the loans that our clients want, and then have appropriate levels of liquidity over and above that.
Brooke Southall and Keith Girard contributed to the editing of this article.

Walter Bettinger



Related Moves

October 3, 2024 at 10:12 PM

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.

May 25, 2024 at 2:45 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

Another A-list RIA Schwabbie lands on his feet -- this time at DeVoe & Co. -- after TD Ameritrade merger displacement of 2,000-plus

Tony Parkin takes the reins as president of the San Francisco M&A shop and reunites with ex-Schwab boss who left 14 years ago

May 10, 2024 at 1:29 AM

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