The Charles Schwab Corporation (NYSE:SCHW) Q3 2024 Earnings Conference Call October 15, 2024 8:30 AM ET
Company Participants
Jeff Edwards - Head of Investor Relations
Walter W. Bettinger - Co-Chairman and Chief Executive Officer
Rick Wurster - President
Michael Verdeschi - New Chief Financial Officer
Peter Crawford - Managing Director
Conference Call Participants
Ken Worthington - JP Morgan
Alexander Blostein - Goldman Sachs
Brennan Hawken - UBS
Dan Fannon - Jefferies
Kyle Voigt - KBW
Steven Chubak - Wolfe Research
Brian Bedell - Deutsche Bank
Michael Cyprys - Morgan Stanley
Operator
Good morning, everyone, and welcome to Schwab’s 2024 Fall Business Update. This is Jeff Edwards, Head of Investor Relations, and I’m joined today by a slightly larger contingent of esteemed presenters, including Co-Chairman and CEO, Walt Bettinger; President, Rick Wurster; new CFO, Mike Verdeschi; and Managing Director, Peter Crawford.
Today is certainly a little bittersweet as the team is certainly excited to provide their perspectives about all the exciting things happening at Schwab right now. But, today also marks the final business update for Walt and Peter.
I don’t believe I’m going too far out on a limb to say that we are all going to miss having both of them in the room with us each quarter, especially Walt, who has helped set the energy and pace for these business updates for well over a decade and a half.
I’m certainly going to reach out to Mr. Fowler to see if he’s still planning on hosting quarterly business update watch parties for those former Schwabis who are interested in joining from his undisclosed location.
Given the larger group today, we should have a familiar, but slightly different cadence to the session. Walt will kick things off with some opening remarks and then he and Rick, who will be stepping into the CEO role coming January, will provide insights around our clients and overall strategic picture.
And, then given the recent CFO transition at the beginning of the month, we thought it made sense to allocate the financial update between Peter, who will focus on 3Q results and Mike, who will touch on our thinking as we enter the final stretch for 2024. And, then this time around, we will save a few extra minutes at the end for some closing remarks from Walt.
Some quick housekeeping reminders. The slides for today’s business update will be posted to their usual spot on the IR website at the end of the prepared remarks. Q&A remains structured as the one question, no follow ups, and let’s be mindful of those multi-part questions that we certainly encourage anyone to re-enter the queue if another question comes to mind. And as always, please don’t hesitate to follow-up with IR with any additional questions.