internal
Richard A. Wurster
President and Chief Executive Officer
Executive
1 yr
17 reports
The Charles Schwab Corporation ·SCHW
Investor Services runs as a standalone division under the CEO
Financials · Fortune #164 · Divisional structure · 32K employees · Westlake, TX
View as of:
6
CEO span
↓ tighter than peers (avg 12)
2.6
Avg span
moderate
3
Max depth
3 levels
1.2 yr
Avg tenure
↓ 6.2yr from FY2024
67%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$23.9B
Net income
$8.9B
Total assets
$491.0B
Shares out
1.75B
Sourced from The Charles Schwab Corporation DEF 14A · filed 2026-04-06 ↗ View on SEC
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The Charles Schwab Corporation organizational chart
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Investor Services operates as a standalone, CEO-level division at Charles Schwab, a distinctive choice for a firm of its scale. This page maps Schwab’s divisional leadership, executive team, and governance structure, with analysis of CEO span, recent leadership changes, and peer comparisons.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Dennis Howard joined as Chief Technology, Operations and Data Officer
Appointed to expanded role consolidating technology, operations, and data on January 29, 2026.
Source · See change logScenario views in the chart
- Add Chief AI Officer Create a dedicated Chief AI Officer reporting to the CEO to accelerate AI governance and product deployment.
- Reinstate COO Role Reintroduce a Chief Operating Officer to reduce CEO span and separate operations from technology.
Atlas work this supports
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The people
Who's running this
7 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
Jonathan M. Craig
Managing Director and Head of Investor Services
Investor Services
3 yr
3 reports
internal
Dennis Howard
Managing Director, Chief Technology, Operations and Data Officer
Technology & Operations
0 yr
3 reports
Michael D. Verdeschi
Managing Director and Chief Financial Officer
Finance
1 yr
2 reports
internal
Peter J. Morgan III
Managing Director, General Counsel and Corporate Secretary
Legal
4 yr
2 reports
Walter W. Bettinger II
Co-Chairman
Board Leadership
1 yr
0 reports
Charles R. Schwab
Co-Chairman
Board Leadership
38 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 5 named executive officers disclosed. Bar length scales with total compensation.
Richard A. Wurster $18.8M
- Base salary
- $1.25M
- Stock awards
- $7.61M
- Option awards
- $5.08M
- Non-equity incentive
- $4.73M
- Other
- $92K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Michael D. Verdeschi $8.1M
- Base salary
- $926K
- Stock awards
- $2.61M
- Option awards
- $1.74M
- Non-equity incentive
- $2.70M
- Other
- $146K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Walter W. Bettinger II $6.3M
- Base salary
- $854K
- Stock awards
- $1.73M
- Option awards
- $1.15M
- Non-equity incentive
- $2.49M
- Other
- $45K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Charles R. Schwab $8.5M
- Base salary
- $900K
- Stock awards
- $3.00M
- Option awards
- $2.00M
- Non-equity incentive
- $2.62M
- Other
- $19K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Jonathan M. Craig $6.3M
- Base salary
- $826K
- Stock awards
- $2.10M
- Option awards
- $1.40M
- Non-equity incentive
- $1.93M
- Other
- $19K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
Stock ownership requirements
5×CEO base salary
3×NEO base salary
Stock ownership guidelines expressed as multiples of base salary.
The businesses
How The Charles Schwab Corporation divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Investor Services
15K employees
Managing Director, Head of Investor Services (Jonathan M. Craig)
Provides retail brokerage, advisory, banking, and workplace services to individual investors and employers.
Advisor Services
6K employees
CEO (Richard A. Wurster)
Delivers custody, trading, and support services to independent RIAs and retirement advisors.
Technology & Operations
7K employees
Chief Technology, Operations and Data Officer (Dennis Howard)
Runs core platforms, data, cybersecurity, and operational infrastructure.
Corporate Functions
4K employees
CEO (Richard A. Wurster)
Includes finance, legal, risk, HR, and corporate strategy.
The thesis
Why this org is unusual
Investor Services stands out as a distinct, CEO-level division at Schwab, with its leader reporting directly to the CEO rather than being nested under a COO or commercial head.
This reflects Schwab’s long-standing client-centric model, where retail and workplace investors are treated as a core business with full P&L responsibility.
The structure is otherwise lean at the top: the CEO has a moderate span of control, and there is no separate COO role following the 2024 transition. Technology, operations, and data have been consolidated under a single executive, tightening execution oversight after the Ameritrade integration and during a period of heavy platform investment.
Board leadership remains unusually prominent. The founder and former long-tenured CEO both serve as Co-Chairmen, creating a visible bridge between governance and management that is uncommon among large financial institutions but consistent with Schwab’s founder-led history.
- No standalone COO role
- Investor Services reports directly to CEO
- Founder remains active as Co-Chairman
The comparison
How The Charles Schwab Corporation stacks up
Compared with peers like Fidelity (private) and Morgan Stanley, Schwab’s structure is flatter and more founder-influenced. Most large broker-dealers separate retail brokerage under a COO or president layer, while Schwab elevates Investor Services directly to the CEO. This increases CEO span but also speeds …
C-suite size
Reporting depth
The Charles Schwab Corporation
3 levels
5 levels
6 levels
6 levels
6 levels
Avg C-suite tenure
The Charles Schwab Corporation
1 yr
6 yr
7 yr
8 yr
7 yr
Has COO / Has CAIO
The Charles Schwab Corporation — no COO — no CAIO
Current signals
What changed recently
The most consequential change was Richard Wurster’s succession as CEO in January 2025, followed by consolidation of technology and operations under a single executive.
- newDennis Howard Chief Technology, Operations and Data Officer
Appointed to expanded role consolidating technology, operations, and data on January 29, 2026.
Source - promotedRichard A. Wurster President and Chief Executive Officer
Appointed CEO effective January 1, 2025 following planned succession.
Source - departedJoseph R. Martinetto Chief Operating Officer
Stepped down as COO effective June 28, 2024; role not refilled.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-04-06
- CEO
- Richard A. Wurster
- CEO span
- 6
- C-suite
- 5
- Avg tenure
- 1.2 yr
First full year under new CEO following long-planned succession.
Named executive officers (5)
- Richard A. Wurster - CEO since 2025
- Michael D. Verdeschi - CFO since 2024
- Walter W. Bettinger II - Co-Chairman since 2025
- Charles R. Schwab - Co-Chairman since 1987
- Jonathan M. Craig - Head of Investor Services since 2022
FY2024
DEF 14A filed 2025-04-04
- CEO
- Walter W. Bettinger II
- CEO span
- 7
- C-suite
- 6
- Avg tenure
- 7.4 yr
Transition year with announced CEO and CFO succession.
Named executive officers (5)
- Walter W. Bettinger II - CEO since 2008
- Richard A. Wurster - President since 2021
- Michael D. Verdeschi - CFO since 2024
- Charles R. Schwab - Co-Chairman since 1987
- Jonathan M. Craig - Head of Investor Services since 2022
FY2023
DEF 14A filed 2024-04-05
- CEO
- Walter W. Bettinger II
- CEO span
- 7
- C-suite
- 6
- Avg tenure
- 8.1 yr
Stable long-tenured leadership before succession announcements.
Named executive officers (5)
- Walter W. Bettinger II - CEO since 2008
- Richard A. Wurster - President since 2021
- Peter B. Crawford - CFO since 2017
- Charles R. Schwab - Co-Chairman since 1987
- Jonathan M. Craig - Head of Investor Services since 2022
Year-over-year changes
CFO transition began as Verdeschi succeeded long-tenured predecessor.
- CEO span: 7 → 7
- C-suite size: 6 → 6
- Avg tenure: 8.1 → 7.4 yr
- new Michael D. Verdeschi - Chief Financial Officer (was Deputy CFO) (DEF 14A filed 2025-04-04)
CEO succession reset average tenure and slightly reduced CEO span.
- CEO span: 7 → 6
- C-suite size: 6 → 5
- Avg tenure: 7.4 → 1.2 yr
- promoted Richard A. Wurster - Chief Executive Officer (was President) (DEF 14A filed 2026-04-06)
Frequently Asked Questions
Who is the CEO of Charles Schwab?
Richard A. Wurster has served as President and CEO since January 1, 2025, following a planned succession.
What type of organizational structure does Charles Schwab use?
Schwab uses a divisional structure, with major client businesses like Investor Services operating as standalone divisions.
How many direct reports does Charles Schwab's CEO have?
The CEO has six direct reports, including the heads of Investor Services, Finance, Technology & Operations, and Legal.
How has Charles Schwab's leadership changed recently?
Recent changes include CEO succession in 2025 and the 2026 consolidation of technology, operations, and data leadership.
Does Charles Schwab have a COO?
No. After the COO stepped down in 2024, Schwab did not replace the role and instead consolidated operations under the CTO.
Sources
- Form 8-K, Jan 29 2026
- Company Proxy, Apr 2025
- SEC EDGAR: The Charles Schwab Corporation DEF 14A Proxy Statement
- SEC EDGAR: The Charles Schwab Corporation 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). The Charles Schwab Corporation organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/charles-schwab/MLA 9th
"The Charles Schwab Corporation Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/charles-schwab/. Accessed .Chicago 17
Creately. "The Charles Schwab Corporation Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/charles-schwab/.Original SEC source View on SEC ↗
The Charles Schwab Corporation. DEF 14A. Filed 2026-04-06. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/316709/000119312526142826/d930509ddef14a.htmPermanent URL: https://creately.com/org-chart/fortune-500/charles-schwab/ · last updated 2026-04-01