Improved market volatility and decent client activity are expected to have supported SCHW's Q3 earnings.
Rick Wurster, Schwab's president since 2021, will be tasked with steering the largest publicly traded U.S. brokerage through a transition.
SCHW's current CEO, Walt Bettinger, will step down from his role by the end of this year after serving for 16 years.
Walt Bettinger to retire from his longtime position as Charles Schwab's CEO at the end of 2024. It will mark the end of Bettinger's 16-year tenure as CEO.
Stephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to break down her latest portfolio moves.
"I have big shoes to fill," says current @CharlesSchwab President Rich Wurster, but adds that he's "very well prepared" to become the company's next CEO. He'll succeed Walt Bettinger on January 1st after leading the company for 16 years.
Charles 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.
Walt Bettinger has led the company since late 2008.
After 16 years leading the brokerage firm, Bettinger will be replaced by an internal CEO hire.
Most of the popular online brokerage firm's revenue is net interest revenue. If interest rates fall from here, however, this important business threatens Charles Schwab's overall top and bottom lines.
SCHW remains well-poised for growth, given high rates, rising client assets and a decent liquidity position. Yet, rising costs and weak trading revenues are concerning.
SCHW expects to record a sequential improvement in Q3 total revenues. Should you buy the stock on this favorable development?