Schwab Names Bettinger as New CEO

July 23, 2008 ( - The Charles Schwab Corporation has tapped Walter W. Bettinger II as its new chief executive officer effective October 1, 2008.

A Schwab news release said Bettinger, previously president and chief operating officer, was also named as a director and will continue in the president’s position. Charles R. Schwab remains executive chairman of the Board of Directors, the company said.

Bettinger, 47, oversaw the company s operating businesses Schwab Investor Services, Schwab Institutional, Schwab Investor Development and Schwab Corporate & Retirement Services as well as investment management, banking, technology, human resources, and operations.

Before that, he was president of the Individual Investor Enterprise and previously served as president of Schwab Corporate Services, president of Schwab Retirement Plan Services, Inc., and as chairman of the Board, president, and chief executive officer of The Charles Schwab Trust Company.

Before joining Schwab, Bettinger founded The Hampton Company, a provider of retirement plan services to corporations and their employees, in 1983 at the age of 22. In 1995, Schwab acquired Hamption.