Chief operating officer
The Charles Schwab Corporation (SCHW) announced that Joseph R. Martinetto would be its new COO. Martinetto has served in several senior positions at Charles Schwab as well as Charles Schwab and Company. He is slated to continue looking after the company’s departments like technology, banking, digital, and operations.
In addition to the above departments, Martinetto also plans to look at departments like community services, client solutions, and legal services as well as the company’s investment management subsidiary.
Takeaways from the report
On January 31, Charles Schwab shared key insights regarding the report, which focuses on the behavior of its retail clients. The report covered clients’ behavior for 2H17. According to the report, around 60% of the company’s clients felt financially secure compared to the previous year.
Also compared to the previous year, clients’ views of a favorable outlook for the stock market fell marginally. Investors also worried about the political environment in Washington as well as a correction in the markets.
Charles Schwab has a return on invested capital of 1.09% on an LTM (last-12-month) basis. Peers (XLF) Bank of New York Mellon Corporation (BK), Morgan Stanley (MS), and LPL Financial Holdings (LPLA) recorded 1.08%, 1.89%, and 8.78%, respectively.