Walter W. Bettinger II
President and Chief Executive Officer
Walter W. Bettinger II, 58, has been president of The Charles Schwab Corporation since February 2007 and chief executive officer since October 2008. In addition, Bettinger serves on the Board of Directors of The Charles Schwab Corporation, Charles Schwab & Co., Inc., and the Charles Schwab Bank, and also serves as chairman of the Board of Trustees for the Schwab-managed mutual funds and exchange-traded funds. Prior to assuming his current role, he served as president and chief operating officer of The Charles Schwab Corporation.
Bettinger leads a workforce of approximately 19,500 full-time employees, who work at the company's headquarters in San Francisco and branch offices in more than 350 locations across the United States and in 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:
- $3.53 trillion in client assets
- 11.7 million client brokerage accounts, 1.3 million bank accounts, and 1.7 million retirement plan participants
- More than 7,500 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 quadrupled from $13.59 on January 1, 2009, to approximately $55.00 in early 2018, and returned an average of approximately 30% per annum to stockholders for the past five calendar years.
Bettinger has been recognized throughout his career as a leader in financial services:
- in 2014, 2016, and 2017, he was recognized in Fortune magazine's Businessperson of the Year listing—in 2017 he was ranked the #16 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 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 March 2019