Schwab Statement on Current Events

Schwab Statement on Current Events

When Chuck Schwab founded our firm more than four decades ago, he did so with a clear point of view that our industry had an opportunity to be more inclusive, and help more people from different backgrounds unlock the power of investing. That spirit of inclusiveness has been a guiding principle for this firm ever since.

Recent events have had a profound impact on our nation, and on us as a firm. In light of these events, our CEO and our Executive Council reaffirmed to all employees a basic belief of our firm: discrimination of any type has no place in our company.  We also shared that, in support of our commitment to the African American community, the firm had made financial commitments to support multiple causes that combat discrimination and strive to open doors for people of color. Among these are a $500,000 contribution from the Charles Schwab Foundation to Historically Black Colleges and Universities (HBCUs) to fund scholarships and a 2-for-1 match for employee donations to the non-profit organization of their choice. We are also thoughtfully planning additional efforts that support opportunities and advancement for people of color. Our nature is to do these things quietly, without fanfare, and without an attempt to draw attention to our firm.

We believe diversity helps us appreciate a wider range of perspectives, which supports our long-standing approach to see the world Through Clients’ Eyes. To that end, we have been on a long-term journey to improve our workforce diversity, enhance our inclusive culture, better serve our diverse clients, and build stronger connections to our diverse communities. For a summary of our efforts related to Diversity & Inclusion, please click here.

We have made progress to date. But like organizations across the nation, we know there is still more for all of us to do. We are committed to continuing our efforts to open doors and offer all employees and investors a diverse and inclusive culture here at Schwab.