President and Chief Executive Officer
Walter W. Bettinger II, 56, has been President and Chief Executive Officer of The Charles Schwab Corporation since October 2008. Concurrent with his appointment, he was named to the Board of Directors of The Charles Schwab Corporation.
In addition, Bettinger serves on the Board of Directors of Charles Schwab & Co., Inc. and Charles Schwab Bank, and as Chairman of The Board of Trustees for the Schwab managed mutual funds and exchange traded funds. Prior to assuming his current role, he was most recently President and Chief Operating Officer of The Charles Schwab Corporation.
He leads a workforce of approximately 16,000 full-time employees, with headquarters in San Francisco and branch offices in more than 335 locations across the United States plus London, Hong Kong, Singapore and Puerto Rico.
As measured by client assets, Schwab is the largest publicly traded investment services firm in the United States and one of the world's largest financial services firms serving approximately:
$2.83 trillion in client assets
Over 10 million active brokerage accounts, 1.1 million bank accounts and 1.5 million retirement plan participants
More than 7,000 independent investment advisors
Bettinger's duties include leading the development of strategies and services that assist millions of people worldwide in their efforts to save and invest – either directly, with the help of an independent investment advisor, or through a company-sponsored retirement or benefit plan.
He is credited with leading Schwab through the financial crisis. Post crisis, from 2009 through 2012, Schwab grew client assets by $530 billion – $200 billion more than the growth of all four of Schwab’s primary, publicly traded competitors added together. Under his leadership, the value of Schwab stock has approximately tripled from January 1, 2009 to date.
Bettinger has been honored throughout his career as a leader in financial services. Recent recognition includes:
Fortune magazine’s Businessperson of the Year – ranking #19 in 2014 and #25 in 2016;
Smart Money magazine's Power 30 listing of the world’s most powerful and influential players in 2010; and
Plan Sponsor magazine's lifetime achievement award for contributions to the retirement security of working Americans in 2009.
In 1983, at the age of 22, Bettinger founded The Hampton Company, a provider of retirement plan services to corporations and their employees. The Charles Schwab Corporation acquired Hampton in 1995.
In addition to his professional duties, Bettinger is active in numerous charitable and philanthropic efforts. He and his wife, Teri, are founders of the Walt & Teri Bettinger Foundation and the parents of five children.
A native of Ada, Ohio, Bettinger attended Delta State University in Cleveland, MS and holds a bachelor of business administration degree with a major in finance, summa cum laude, from Ohio University. He has also completed the General Management program offered by the Harvard Business School.