President and Chief Executive Officer
Walter W. Bettinger II, 55, 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 a 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 16,100 full-time employees, with headquarters in San Francisco and branch offices in more than 330 locations across the United States plus London, Hong Kong 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:
- $2.71 trillion in client assets
- 10.0 million active brokerage accounts
- Around 1.1 million bank accounts
- 1.6 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 grown from $13.59 on January 1, 2009 to $32.93 as of Dec. 31, 2015 - an increase in excess of 140%.
Bettinger has been recognized throughout his career as a leader in financial services including selection in 2014 to Fortune magazine's Businessperson of the Year listing, in 2010 to the Power 30 by Smart Money magazine of the world's most powerful and influential players; the 2009 lifetime achievement award for contributions to the retirement security of working Americans by Plan Sponsor magazine and receipt by Tiburon Consulting of a 2012 Tiburon CEO Summit award.
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.