Richard A. Wurster
Summary
Richard A. Wurster has served as Charles Schwab’s President since 2021 and as Chief Executive Officer and a director since January 2025. ([aboutschwab.com](https://www.aboutschwab.com/richard-a-wurster))
Biography
Wurster joined Schwab in 2016 after working at Wellington Management and McKinsey & Company, where he was an associate principal and a leader of the asset-management practice. He studied economics at Villanova University, earned an MBA from Dartmouth College, and has held CFA and CMT credentials. ([aboutschwab.com](https://www.aboutschwab.com/richard-a-wurster)) At Schwab, he led ThomasPartners and Windhaven Investment Management, served as CEO of several Schwab asset-management subsidiaries, and later oversaw broader asset- and wealth-management activities. As President, his responsibilities expanded across individual investing, advisor services, banking, and technology before he succeeded Walter Bettinger as CEO. ([aboutschwab.com](https://www.aboutschwab.com/richard-a-wurster))
Notable achievements
- Led Schwab’s asset-management businesses after the company acquired ThomasPartners and Windhaven.
- Helped oversee the company’s advisor-services and broader operating businesses as President beginning in 2021. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/talk-to-rick-the-next-ceo-of-charles-schwab))
- Became CEO through a planned leadership transition effective January 1, 2025. ([content.schwab.com](https://content.schwab.com/web/retail/public/about-schwab/Charles_Schwab_2025_Proxy_Statement.pdf?utm_source=openai))
- During his first full year as CEO, Schwab reported 2025 net revenue of $23.9 billion, up 22% year over year, and core net new assets of $519.4 billion, up 42%. ([sec.gov](https://www.sec.gov/Archives/edgar/data/316709/000119312526142826/d930509ddef14a.htm))
- Maintained a strategic focus on expanding Schwab’s registered-investment-advisor business, which the company identifies as a major source of assets and new client money. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/incoming-schwab-ceo-sees-room-to-expand-advisor-business))
Problem areas / controversies
- He took over as CEO while Schwab was still dealing with the effects of higher interest rates, banking-related funding pressure, and slower revenue and profit growth. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/talk-to-rick-the-next-ceo-of-charles-schwab))
- The integration of TD Ameritrade was a major operational undertaking, and some former TD advisors and customers left during the platform transition, although Schwab said attrition was within expectations. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/incoming-schwab-ceo-sees-room-to-expand-advisor-business))
- Schwab has continued to retire or replace some legacy advisor technology, including its white-label robo-advisor platform, creating transition work for affected advisors. ([aboutschwab.com](https://www.aboutschwab.com/newsroom/story/incoming-schwab-ceo-sees-room-to-expand-advisor-business))
- Public reporting reviewed did not identify a major personal regulatory controversy involving Wurster.