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Walter "Walt" Bettinger, president and chief executive officer of Charles Schwab Corp., speaks during the 2015 Fortune Global Forum in San Francisco, California, U.S., on Tuesday, Nov. 3, 2015. Bettinger will be replaced on Jan. 1, 2025, by Charles Schwab President Rick Wurster. Charles Schwab CEO Walt Bettinger is retiring from his role at the end of December after 16 years leading the brokerage firm, the company announced Tuesday. In a statement, Bettinger cited his 65th birthday next year as a reason to step aside and praised the choice of Wurster. In an interview on CNBC's "Squawk Box," Wurster indicated that there would not be any immediate change in strategy with the CEO handoff.
Persons: Walter, Walt, Bettinger, Charles Schwab, Rick Wurster, Walt Bettinger, Schwab, we've, Wurster, Ameritrade, halve Organizations: Charles Schwab Corp, Global, Schwab Locations: San Francisco , California, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Charles Schwab CEO Walt Bettinger and President Rick WursterCharles Schwab CEO Walt Bettinger and President Rick Wurster join 'Squawk Box' to discuss news of Bettinger retiring as CEO at the end of December after 16 years leading the brokerage firm, whether there will be any immediate change in strategy, impact of the Fed's interest rate decision on the company, and more.
Persons: Charles Schwab, Walt Bettinger, Rick Wurster Charles Schwab, Rick Wurster, Bettinger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharles Schwab CEO Walt Bettinger on retirement: 'Incredibly excited' to turn it over to RickCharles Schwab CEO Walt Bettinger and President Rick Wurster join 'Squawk Box' to discuss news of Bettinger retiring as CEO at the end of December after 16 years leading the brokerage firm, whether there will be any immediate change in strategy, impact of the Fed's interest rate decision on the company, and more.
Persons: Charles Schwab, Walt Bettinger, Rick Charles Schwab, Rick Wurster, Bettinger
The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.
NEW YORK, Feb 16 (Reuters) - The mutual fund industry is warning the U.S. Securities and Exchange Commission that new proposed rules aimed at better preparing open-end funds to weather distressed market conditions would harm investors saving for retirement. A November proposal from the SEC would require mutual funds, and some exchange-traded funds, to ensure that at least 10% of their net assets are highly liquid. It would also require a hard daily close of 4 p.m. Eastern time for mutual funds, and the use of "swing pricing." SEC Chairman Gary Gensler argued at the time the tweaks would ensure such funds are resilient and protect investors. But industry groups and fund managers criticized the proposal in public comments, describing them as misguided and harmful.
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