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| Company type | Public |
|---|---|
| ISIN | US8085131055 |
| Industry | Financial services |
| Founded | 1971 (as Charles Schwab & Co., Inc.) in San Francisco, California, U.S. |
| Founder | Charles R. Schwab |
| Headquarters | Westlake, Texas, U.S.[1] |
Number of locations | c. 380 branches (2023) |
Key people |
|
| Services | |
| Revenue |  US$18.84 billion (2023) |
| US$6.378 billion (2023) | |
| US$5.067 billion (2023) | |
| AUM |  US$8.517 trillion (2023) |
| Total assets | US$493.2 billion (2023) |
| Total equity | US$40.96 billion (2023) |
| Owner |
|
Number of employees | approx. 33,000 (December 2023) |
| Website | |
| Footnotes / references [2][3][4] | |
The Charles Schwab Corporation[2] is an American multinational financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services to both retail and institutional clients. It has over 380 branches, primarily in financial centers in the United States and the United Kingdom. It is on the list of largest banks in the United States by assets.[2] As of December 31, 2023,[update] it had $8.5 trillion in client assets, 34.8 million active brokerage accounts, 5.2 million corporate retirement plan participants, and 1.8 million banking accounts.[2] It also offers a donor advised fund for clients seeking to donate securities.[5][6] It was founded in San Francisco, California, and is headquartered in Westlake, Texas.
Founded as Charles Schwab & Co. in 1971 by its namesake Charles R. Schwab, the company capitalized on the financial deregulation of the 1970s to pioneer discount sales of equity securities. After a flagship opening in Sacramento, California, the bank expanded into Seattle before the 1980s economic expansion financed the bank's investments in technology, automation, and digital record keeping. The first to offer round-clock order entry and quotation, it was purchased by Bank of America in 1983 for $55 million. Three years later, the profitability of the bank's no-charge mutual funds prompted the founder to buy his company back for $280 million.[7]
- ^ "Charles Schwab gives date for HQ designation move from San Francisco to D-FW". October 8, 2020.
- ^ a b c d "US SEC: The Charles Schwab Corporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 23, 2024.
- ^ "Charles Schwab". Fortune.
- ^ "Proxy statement". U.S. Securities and Exchange Commission. April 5, 2024.
- ^ "Schwab Charitable - Where to Give". Charles Schwab Corp.
- ^ "Schwab Charitable Facilitates More Than $1.5 Billion in Grants in Fiscal Year 2017" (Press release). Charles Schwab Corp. July 10, 2017 – via Business Wire.
- ^ John M. Broder (April 1, 1987). "Schwab Completes Buyout of Brokerage From B of A". Los Angeles Times. Archived from the original on April 29, 2019.