Charles R. Schwab | 2016 Financial Innovation Award Honoree
Charles (“Chuck”) Schwab started the San Francisco-based Charles Schwab Corporation in 1971 as a traditional brokerage company and in 1974 became a pioneer in the discount brokerage business.
Mr. Schwab took an early lead, offering a combination of low prices with fast, efficient order executions, and soon became the nation's largest discount broker. Today, the company is the nation's largest publicly traded investment services firms with over $2.5 trillion in client assets. Often credited with “democratizing” investment, Chuck Schwab has driven countless innovations in the investment services industry designed to help individual’s make the most of saving and investing, including 24/7 access to services, the one-stop mutual fund supermarket providing access to thousands of no-load, no transaction fee mutual funds, custodial services for independent registered investment advisors, online trading and many others. Today, the company has expanded from its roots as a discount brokerage and provides a full-service investing and banking experience to clients domestically and abroad and serves over 10 million accounts.
Mr. Schwab has been Chairman of The Charles Schwab Corporation since its inception and has served as Chief Executive officer for most of its history until October 2008. He is also Chairman of Charles Schwab & Co., Inc. and Charles Schwab Bank, and a trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios, all registered investment companies.
In addition to his professional commitments, Mr. Schwab takes an active interest in a variety of volunteer and non-profit activities. Along with his wife Helen, he is the co-founder and chairman of the Charles and Helen Schwab Foundation, a private foundation that supports entrepreneurial organizations working in education, poverty prevention, human services and health. Mr. Schwab also serves as chairman of the San Francisco Museum of Modern Art.
On January 22, 2008, President George W. Bush named Mr. Schwab chairman of the President's Advisory Council on Financial Literacy, a groundbreaking initiative which advised the President and the Secretary of the Treasury on ways to promote and enhance financial literacy among the American people.
He is the author of several bestselling investment books, including How to Be Your Own Stockbroker, Charles Schwab's Guide to Financial Independence, It Pays To Talk, written with his daughter, Carrie Schwab Pomerantz, and You're Fifty — Now What?
Mr. Schwab was born in Sacramento, CA. He is a graduate of Stanford University, earning a Bachelor of Arts degree in economics and a Master of Business Administration degree from Stanford Graduate School of Business.
A father of five children, Mr. Schwab resides with his wife, Helen, in the San Francisco Bay Area.