Powered by

Charles Schwab Is Quietly One of the Biggest Banks in America. That's a Problem.

Oct 01, 2020 - Institutional Investor
Board and Executive Moves-Mergers and Acquisitions

Schwab CEO Walt Bettinger's plan to attract the rich, lock in the young, and crush the threat of Robinhood.


Walt Bettinger, chief executive of Charles Schwab Corp., had just signed a deal to acquire the company's main trading rival "" TD Ameritrade "" for a massive $26 billion in Schwab shares. But rather than crow about Schwab's bulging market clout, he surprisingly called the takeover a "unique opportunity to build a firm with the soul of a challenger."

Almost a...