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