Schwab Appoints Walter Bettinger to Lead Retail Business
November 08 2005 - 7:42PM
PR Newswire (US)
SAN FRANCISCO, Nov. 8 /PRNewswire-FirstCall/ -- The Charles Schwab
Corporation today announced the appointment of Executive Vice
President Walter W. Bettinger II as president of the company's
Individual Investor enterprise. Bettinger will succeed William L.
Atwell, who announced his decision to retire from Schwab.
Bettinger, 44, is a member of the company's Executive Committee and
has served as chief operating officer of the Individual Investor
enterprise since mid-2004. In that role, he has led the unit's
sales and service functions, with responsibility for the company's
network of 280 retail branch offices, as well as its three
telephone service centers. He also held responsibility for Schwab
Corporate Services, the enterprise serving corporate 401(k) and
equity compensation plans. A 24-year financial services industry
veteran, Bettinger joined Schwab in 1995, when the corporation
acquired The Hampton Company, a firm he founded in 1983 at the age
of 22 and built into one of the largest independent retirement plan
service providers in the Midwest. In his new role, Bettinger will
also assume responsibility for Schwab's complete range of services
for individual investors, including investment advice, independent
investor and active trader services, and multicultural and
international services. With 5,300 employees, the Individual
Investor enterprise is Schwab's largest division. "Walt Bettinger
is a highly experienced financial services leader who shares my
passion for client service," said Chairman and CEO Charles R.
Schwab. "He was the driving force behind our entry into the
corporate retirement plan services market, a highly successful
leader of our branch and service center networks, and a key
architect and advocate of our new approach to building deeper
relationships with our clients -- a key component of our strategy.
I'm extremely confident in his ability to lead our individual
investor business forward." Atwell, 55, said his decision to retire
from Schwab stemmed from a desire to spend more time with his
family at his home on the East Coast. "With the firm's turnaround
in place, I have decided to retire from Schwab and seek
opportunities that do not require me to be away from my home and
family to such a great extent," Atwell said. Atwell joined Schwab
in August 2000, and was appointed to his current position in May
2003. Previously, he headed Schwab Institutional and Schwab
International. During his tenure as head of the Individual Investor
enterprise, Atwell launched Charles Schwab Bank and quickly
expanded its services to include a credit card, investor checking,
home mortgages and home equity loans and deposit services. At the
same time, he oversaw an expansion in the range and depth of
Schwab's services for individual investors, while improving the
division's financial performance. "Bill's contributions to the firm
have helped fuel our turnaround over the last 18 months," Schwab
said. "Just as important, Bill has been a valued partner to me
during his time at Schwab, and has been tireless in pursuing our
goal of helping individual investors succeed." About Charles Schwab
The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its
operating subsidiaries, provides securities brokerage and financial
services to individual investors and the independent investment
advisors who work with them. With over 7 million individual
investor accounts and more than $1 trillion in client assets, The
Charles Schwab Corporation is one of the nation's largest financial
services firms. Its subsidiary Charles Schwab & Co., Inc.
(member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds;
financial planning and investment advice; retirement plans;
referrals to independent fee-based investment advisors; and
custodial, operational and trading support for independent
fee-based investment advisors. Its subsidiary Charles Schwab Bank,
N.A. (member FDIC) provides banking and mortgage services and
products. The corporation's other operating subsidiaries include
U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc.
(member SIPC). These companies' Web sites can be reached at
http://www.schwab.com/, http://www.schwabbank.com/,
http://www.ustrust.com/, and http://www.cybertrader.com/.
DATASOURCE: Charles Schwab CONTACT: Media, Greg Gable,
+1-415-636-5847, or Investors/Analysts, Rich Fowler,
+1-415-636-9869, both of Charles Schwab Web site:
http://www.schwab.com/
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