SCHWAB’S BETTINGER MAY BE THE BEST FINANCIAL SERVICES CEO: There are some great CEOs and many excellent ones, but I will put Walt Bettinger and his record up against any of them. The latest evidence is how well Schwab and its bank navigated the disruption this spring and how positive its acquisition of Ameritrade has been, both strategically and financially. Here is what Bettinger said on the company’s recent earnings call.
“We are ready to widen that [market share] gap meaningfully in the next 18 months as we reap the efficiency and automation benefits of the Ameritrade integration. We anticipate the realization of expense savings to be substantial. In addition to the remaining $500 million of synergy savings that we originally committed to as part of the Ameritrade acquisition, we now anticipate achieving at least an additional $500 million in future expense savings.”
This is a bold statement from a man who usually makes a habit of holding back on optimistic projections.
Schwab’s Bettinger shows how it’s done
By Thomas K. Brown,
SCHWAB’S BETTINGER MAY BE THE BEST FINANCIAL SERVICES CEO: There are some great CEOs and many excellent ones, but I will put Walt Bettinger and his record up against any of them. The latest evidence is how well Schwab and its bank navigated the disruption this spring and how positive its acquisition of Ameritrade has been, both strategically and financially. Here is what Bettinger said on the company’s recent earnings call.
“We are ready to widen that [market share] gap meaningfully in the next 18 months as we reap the efficiency and automation benefits of the Ameritrade integration. We anticipate the realization of expense savings to be substantial. In addition to the remaining $500 million of synergy savings that we originally committed to as part of the Ameritrade acquisition, we now anticipate achieving at least an additional $500 million in future expense savings.”
This is a bold statement from a man who usually makes a habit of holding back on optimistic projections.