Walter W. Bettinger II
Walter W. Bettinger II, 61, has been Chief Executive Officer since late 2008. In addition, 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.
He leads a workforce of approximately 35,200 employees, with headquarters in Westlake, Texas and branch offices in more than 400 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:
- $6.83 trillion in client assets
- 33.9 million client brokerage accounts, 1.7 million bank accounts, and 2.3 million retirement plan participants
- Nearly 15,000 independent advisor firms served
Bettinger's duties include leading the development of strategies and services that assist tens of 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.
Under his leadership, the value of Schwab stock has grown from $13.59 on January 1, 2009 to approximately $95.00 as of January 15, 2022. During the same period, Schwab's market capitalization has grown from ~$18B to ~$180B.
Bettinger has been recognized throughout his career as a leader in financial services including:
- 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 to the Power 30 by Smart Money magazine of the world's most powerful and influential players; and
- the 2009 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 July 2022