Walter W. Bettinger II
President and Chief Executive Officer
Walter W. Bettinger II, 59, has been President of The Charles Schwab Corporation since February 2007 and Chief Executive Officer since October 2008. In addition, Mr. Bettinger serves on the Board of Directors of The Charles Schwab Corporation, Charles Schwab & Co., Inc. and the Charles Schwab Bank, as well 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.
Bettinger leads a workforce of approximately 19,800 full-time employees, with headquarters in San Francisco and branch offices in more than 365 locations across the United States plus London, Hong Kong, Singapore, Australia 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:
- $3.94 trillion in client assets
- 12.2 million client brokerage accounts, 1.4 million bank accounts, and 1.7 million retirement plan participants
- 8,000 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 more than tripled from $13.59 on January 1, 2009 to approximately $46.00 in early 2019 and returned an average of approximately 25% per annum to stockholders for the past seven calendar years.
Bettinger has been recognized throughout his career as a leader in financial services:
- he was named to Glassdoor’s 2019 list of Top 100 Large Company CEOs across North America and parts of Europe based entirely on employee feedback shared anonymously on Glassdoor over the past year;
- in 2014, 2016, 2017 and 2018 he was recognized in Fortune magazine's Businessperson of the Year listing—in 2018 he was ranked the #7 businessperson globally;
- in 2010 he was listed in the Power 30 by Smart Money magazine as one of the world's most powerful and influential players; and
- in 2009 he received the lifetime achievement award for contributions to the retirement security of working Americans by Plan Sponsor magazine.
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, Mississippi, 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.
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Updated Dec. 2019