第七组作业.docx

SchwabCompanyCompanyDetailsThe?Charles Schwab Corporation?, is an American brokerage and banking company, based in?San Francisco,California. It was founded in 1971 by?Charles R. Chuck Schwab,?as a traditional, brick and mortar?brokerage firm?and investment newsletter publisher.?In 1973, the company name changed from First Commander Corporation to Charles Schwab Co., Inc.[1]?The company started offering discount brokerage on May 1, 1975,?and would become one of the worlds largest discount brokers. Schwab offers the same services as a traditional brokerage, but with lower commissions and fees.?The company serves 7.9 million client brokerage accounts, with $1.36 trillion in assets (as of September 2010), from over 300 offices in the U.S, one office in Puerto Rico, and one branch in London.?Clients can also access services online and by telephone. In addition to discount brokerage, the company also offers services such as investment research, mutual funds, annuities, bond trading, checking, savings, and mortgages.In 2009, Chairman?Charles R. Schwab?received the inaugural Tiburon CEO Summit award for Maintaining a Focus on Consumer Needs.BusinessSummaryIn 1963,?Charles R. Chuck Schwab?and two other partners launched Investment Indicator, an investment newsletter. At its height, the newsletter had 3,000 subscribers, each paying $84 a year to subscribe. In April 1971, the firm was incorporated in California as First Commander Corporation, a wholly owned subsidiary of Commander Industries, Inc., for traditional, brokerage services and to publish the Schwab investment newsletter. In November of that year, Mr. Schwab and four others purchase all the stock from Commander Industries, Inc., and in 1972, Mr. Schwab bought all the stock from what was once Commander Industries. In 1973, the company name changed to Charles Schwab Co., Inc.[1]?In September 1975, Schwab opened its first branch in Sacramento, CA,[1]?and started offering discount brokerage.[4]?In 1977, Schwab began of