Charles Schwab announced several executive transitions as part of the firm’s long-term succession planning strategy. Peter Crawford, after a 22-year career with the firm, including serving as CFO since 2017, has decided to retire from Schwab following a planned transition period. Crawford will be succeeded by Mike Verdeschi who will join the firm on May 20 as a managing director and deputy CFO. The firm expects to appoint Verdeschi as CFO following the transition period with Crawford. Effective June 28, Joe Martinetto will transition from his role as COO to assume the role of executive chairperson of the Schwab Banks. Martinetto has served the firm, employees, and clients in multiple roles over the past 25-plus years, including roles as CFO and Treasurer. Most recently, he has overseen the integration and conversion of former Ameritrade clients to Schwab. Martinetto’s role will not be replaced at this time, and his duties will be assumed by other leaders at the firm.
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