Articles tagged "Walter Bettinger"
As more prominent Schwabbies emerge amid 2,000 layoffs, Schwab CEO reassures that no 'meaningful' second shoe-drop is 'in the works at this point,' unless 'circumstances' dictate it
Middle-managment cuts range from legal department and alternatives to separately managed accounts (SMAs) and products serving the high-net-worth market.
November 9, 2023 at 2:30 AM
Schwab again declines to say which staffers will get pink slips by Christmas to save $500-million in 2024 expenses, and the math remains sketchy
Two months have passed since the Aug. 21, 8k announcement that Schwab expects to let go perhaps a thousand or more of its 32,000-member staff in 2023-- though it assures the layoffs won't be client-facing
October 18, 2023 at 2:28 AM
Schwab CEO tells Wall Street threat of TD Ameritrade RIAs bolting ended months ago, with potential defectors holding fast to avoid repapering headaches
Walt Bettinger says he 'feel(s) exceptionally good' that 'all' RIA defections landed over the summer, and TDA RIAs have since been 'rewarding us with ... loyalty.'
October 17, 2023 at 2:13 AM
Schwab's high-wire, low-glitch TD Ameritrade RIA custody transition commenced with an improbable hire -- Tom Bradley Jr. -- sources say the two are not coincidental
Schwab Advisor Services was able to 'herd the cats,' who chose TD Ameritrade, often to avoid Schwab; it's used judicious planning, patience, tech savvy but also good communications and an inimitable Tom Bradley-brand of RIA politics.
September 6, 2023 at 12:28 AM
Schwab assures it has financial muscle to shrug off billions of dollars in unrealized bank losses, but interest rate blunder exposes vulnerability if Fed hikes continue, analysts say
An estimated 16,000 RIAs with $3.3 trillion assets custodied at Schwab Advisor Services should be insulated from any calamity at bank subsidary.
March 30, 2023 at 3:48 AM
Schwab shares surge 6% after it hardens TD Ameritrade merger date and affirms its $1.8-billion-plus in synergies, though it got burned by having engineers in the wrong place at the wrong time
The $8-trillion Texas firm had to rewire TDA's signature 'thinkorswim' software after learning engineers were based in heavily sanctioned Russia
October 27, 2022 at 10:23 PM
Schwab's late entry into the 'crypto' game with a 'spaghetti' product just might be primo
With investors undeterred by crypto winter, the SEC offering wiggle room and Fidelity, a largely unopposed giant, threatening to run away with the market, CEO Walt Bettinger makes a bold leap from even two years ago.
August 3, 2022 at 1:59 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
Walt Bettinger finally arrives in Omaha, Neb., to meet-and-greet ex-TDA staff and the local press, offering a good story to tell and liberalized post-Covid work policies
The Charles Schwab Corp. CEO traveled to TD Ameritrade's former headquarters with senior TDA staff, buoyed by the happy news that headcount jumped by 300.
March 23, 2022 at 2:24 AM
Walt Bettinger sheds 'president' title and Bernie Clark gets new boss as Schwab appoints Rick Wurster as president and No. 2 in charge
The Schwab CEO gets 2016 'Windhaven' hire to share burden of governance from enormity of $8-trillion post-TDA, post-USAA, post-Motif growth.
December 20, 2021 at 11:59 PM
Charles Schwab Corp. stock finally blasts past $80 starring the RIA custody unit's record $81 billion in net new assets
The Westlake, Texas broker-dealer's market cap surpassed $152 billion today after disclosing year-to-date assets have grown by close to $1 trillion
October 15, 2021 at 10:42 PM
Citing 100% increase in net new assets, Charles Schwab Corp. will give staff 5% 'special' pay raise that leaves one HR analyst doing a double-take
As talent wars rage in call center meccas like Dallas and business booms, the Westlake, Texas firm commits to a leap in overhead
August 20, 2021 at 12:01 AM
Broadsided by good fortune, Charles Schwab Corp. pivots to fill service capacity deficit, rethink TD Ameritrade integration timetable and unleash 'mystery shoppers' to scout rivals
The third-party sleuths informed Schwab its service betters most peers. An unassuaged CEO Walt Bettinger still moved to shift resources that will push back final unification with Omaha-based TDA.
April 27, 2021 at 6:03 AM
Charles Schwab & Co. is a budding cryptocurrency convert and will enter the market in a big, 'disruptive' way, says its CEO--but not before the SEC says it barks or quacks
The $7-trillion Westlake, Texas brokerage previously said its RIAs were indifferent to digital assets ; now Schwab CEO Walt Bettinger admits clients are excited. .
April 24, 2021 at 3:04 AM
Why Charles Schwab staffers are still waving COVID-19 red flags even after Walt Bettinger capitulated to allow most of them to work at home
Schwab employees cite outdated phone systems, using vacation days to stay safe and confusion, but firm says CEO is contending with unrevealed Homeland Security regs that supersede germ fears