Charles Schwab Corporation

The Charles Schwab Corporation
	The company's U.S. East Coast headquarters at the CBS Building in Manhattan
Company type	Public
Traded as	NYSE: SCHW; S&P 100 component; S&P 500 component;
ISIN	US8085131055
Industry	Financial services
Founded	1971 (as Charles Schwab & Co., Inc.) ; San Francisco, California, U.S.
Founder	Charles R. Schwab
Headquarters	Westlake, Texas, U.S.
Number of locations	c. 380 branches (2023)
Key people	Charles R. Schwab; (co-chairman); Walter W. Bettinger II; (co-chairman & CEO);
Services	Commercial banking; Personal banking; Stockbroker; Investing and related services; Wealth management; Investment portfolios; Investment management; Financial planning;
Revenue	US$18.84 billion (2023)
Operating income	US$6.378 billion (2023)
Net income	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	Toronto-Dominion Bank (9.9%); Charles R. Schwab (6.1%);
Number of employees	c. 33,000 (2023)
Subsidiaries	Charles Schwab Bank; Charles Schwab Investment Management, Inc.; Charles Schwab Futures, Inc.; Charles Schwab Premier Bank; OptionsXpress; Schwab Performance Technologies; Charles Schwab Foundation; Charles Schwab Trust Bank; Schwab Holdings, Inc.; Scottrade; Schwab Network; TD Ameritrade;
Website	www.aboutschwab.com; www.schwab.com;
	Footnotes / references;

The Charles Schwab Corporation 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 ranks tenth on the list of largest banks in the United States by assets. As of December 31, 2023, 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. It also offers a donor advised fund for clients seeking to donate securities. 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 Sr., 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.

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