Michael Verdeschi
Summary
Michael Verdeschi has been Charles Schwab’s Managing Director and Chief Financial Officer since October 1, 2024, after joining the company as Deputy CFO earlier that year. ([sec.gov](https://www.sec.gov/Archives/edgar/data/316709/000119312525072811/d897057ddef14a.htm?utm_source=openai))
Biography
Verdeschi is responsible for Schwab’s treasury, controller, investor-relations, financial-planning, and analysis functions. He joined Schwab in 2024 after more than 30 years at Citigroup, where he became Treasurer and held senior roles in finance, treasury, and investment management. ([aboutschwab.com](https://www.aboutschwab.com/mike-verdeschi)) Before becoming Citigroup’s Treasurer, Verdeschi served as Chief Investment Officer and Head of Rates Portfolio Management. He earned both his bachelor’s degree and MBA from Iona University and serves on the university’s advisory council. ([aboutschwab.com](https://www.aboutschwab.com/mike-verdeschi))
Notable achievements
- Brought more than three decades of finance, treasury, investment, and product experience from Citigroup to Schwab. ([aboutschwab.com](https://www.aboutschwab.com/mike-verdeschi))
- Assumed the CFO role as part of a planned succession from Peter Crawford, effective October 1, 2024. ([sec.gov](https://www.sec.gov/Archives/edgar/data/316709/000119312525072811/d897057ddef14a.htm?utm_source=openai))
- Oversees Schwab’s core finance functions, including treasury, controllership, investor relations, and financial planning and analysis. ([aboutschwab.com](https://www.aboutschwab.com/mike-verdeschi))
- During his first full year as CFO, Schwab reported 2025 net revenue of $23.9 billion and diluted EPS of $4.65, increases of 22% and 56%, respectively, from 2024. ([sec.gov](https://www.sec.gov/Archives/edgar/data/316709/000119312526142826/d930509ddef14a.htm))
Problem areas / controversies
- Verdeschi became CFO during a period when Schwab was managing interest-rate pressure, changes in client cash behavior, and funding costs in its banking business. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/talk-to-rick-the-next-ceo-of-charles-schwab))
- His relatively short tenure at Schwab means there is limited public evidence yet for evaluating his performance across a full credit, market, and operating cycle.
- Public filings and reputable coverage reviewed did not identify a major personal regulatory controversy or enforcement action involving Verdeschi.