Schwab names new COO and president

The Charles Schwab Corp. today announced the appointment of Walt Bettinger as president and chief operating officer.
Prior to this appointment, he was executive vice president and head of Schwab Investor Services.
In his new role, which becomes effective immediately, Mr. Bettinger will oversee the company’s operating businesses — Schwab Investor Services, Schwab Institutional and Schwab Corporate & Retirement Services — as well as mutual funds, banking, technology and operations.
Mr. Bettinger will continue to report to Charles Schwab, chairman and chief executive of the San Francisco-based firm, as will the finance, corporate oversight, human resources and marketing functions, the company said in a statement.
“Walt and I have worked closely together at Schwab for more than 10 years, and we share a personal commitment to helping our clients achieve their financial goals, so it is gratifying to have him advance into this expanded leadership role,” Mr. Schwab said, in a statement.