Charles Schwab Recovering From Heart Surgery On Friday

SAN FRANCISCO — Charles Schwab, the founder and chairman of discount brokerage Charles Schwab Corp., is recuperating after undergoing successful heart valve replacement surgery on Friday.

CEO and President Walt Bettinger said Monday that the 73-year-old Schwab is "resting comfortably and recuperating well" and is expected to return home in the next few days.

Schwab founded the San Francisco-based company in 1971 as a traditional brokerage, and in 1974 shifted to the lower-fee discount brokerage model. The company now has more than 300 offices, with 8 million client brokerage accounts and $1.5 trillion in client assets.

Schwab has served as chairman since 1986. He also led the company as CEO and co-CEO nearly continuously from 1986 until October 2008.

Shares rose 17 cents to $17.19 in midday trading.

Comments

[dukeitout]

12:47 PM on 12/28/2010

Stay healthy Charles. One company not on the complete list of financial scoundrels was your company apparently because you ran it the old fashioned way---looking out for the customer first. And yes I've been a client for 25 years.

[Lionel Maxwell]

09:49 AM on 12/28/2010

Charles Schwab is a good person. I hope he recovers fully and has many more years of live. My sympathies go out to him and his family. Lionel Maxwell

[totalliberal]

08:15 AM on 12/28/2010

Really? How?

[Faraja]

07:21 PM on 12/27/2010

Get well soon!

[Scott Douglas]

01:16 PM on 12/27/2010

Charlie's da man!!
Hope he gets well soon and we all have a great year!

[rsg11]

12:44 PM on 12/27/2010

I wish him a speedy recovery.

He has done a lot to give back in the communities he has lived and worked in.