The Charles Schwab Corporation is an American financial services corporation based in San Francisco, California.
The company, founded in 1971 by Charles R. “Chuck” Schwab, provides banking, brokerage, and financial advisory services.
It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘SCHW’.
As of December 2013, the company operates more than 9.1 million active brokerage accounts, 1.3 million corporate retirement plan participants, and 916,000 banking accounts.
In 1975 Charles Schwab started offering discount brokerage and quickly emerged as one of the world’s leading discount brokers.
The company is comprised of two main segments: investor services and advisor services.
Examples of the products that Charles Schwab offers include:
Brokerage – brokerage accounts; individual retirement accounts; retirement plans; designated brokerage accounts; equity incentive plan accounts; college savings accounts; and margin loans. In addition to to equity and debt offerings, fixed income securities, futures, and options.
Banking – checking accounts linked to brokerage accounts, certificates of deposit, savings accounts, demand deposit accounts, home equity lines of credit (HELOCs), real estate mortgage loans, and personal loans.
Mutual funds – third-party mutual funds (via Mutual Fund Marketplace).
Exchange-traded funds (ETFs) – third-party and proprietary ETFs.
Advice solutions – separately managed accounts, specialized planning and full-time portfolio management, and customized personal advice.
Overview
- CEO: Walter W. Bettinger
- Chairman: Charles R. Schwab
- Type: Public
- Industry: Financial Services
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: SCHW
- S&P 500 Component
- Revenue: $5.435 billion USD (2013)
- Net income: $1.071 billion USD (2013)
- Diluted earnings per share: $.78 USD (2013)
- Employees: 13,800
- Company head office: 211 Main Street, San Francisco, CA 94105
- Investor relations contact number: (847) 405-2550
- Investor relations email: [email protected]
- Website: http://www.schwab.com/
| Net Revenues (in $ millions) | 2013 | 2012 |
| Asset management and administration fees | $2,315 | $2,043 |
| Interest revenue | $2,085 | $1,914 |
| Interest expense | $(105) | $(150) |
| Net interest revenue | $1,980 | $1,764 |
| Trading revenue | $913 | $868 |
| Other – net | $236 | $256 |
| Provision for loan losses | $1 | $(16) |
| Net impairment losses on securities | $(10) | $(32) |
| Total net revenues | $5,435 | $4,883 |
| Expenses Excluding Interest (in $ millions) | ||
| Compensation and benefits | $2,027 | $1,803 |
| Professional services | $415 | $388 |
| Occupancy and equipment | $309 | $311 |
| Advertising and market development | $257 | $241 |
| Communications | $220 | $220 |
| Depreciation and amortization | $202 | $196 |
| Other | $300 | $274 |
| Total expenses excluding interest | $3,730 | $3,433 |
| Income Data (in $ millions) | ||
| Income before taxes on income | $1,705 | $1,450 |
| Taxes on income | $634 | $522 |
| Net Income | $1,071 | $928 |
| Net Income Available to Common Stockholders | $1,010 | $883 |
| Comprehensive Income | $782 | $1,218 |
| Balance Sheet Data (in $ millions) | ||
| Total assets | $143,642 | $1,450 |
| Long-term debt | $1,903 | $1,632 |
| Total liabilities | $133,261 | $124,048 |
| Total stockholders’ equity | $10,381 | $9,589 |
| Common share data (in $) | ||
| Earnings (loss) per Common Share – Basic | $.78 | $.69 |
| Earnings (loss) per Common Share – Diluted | $.78 | $.69 |
Source: “2013 Annual Report – Form 10-K”