Schwab Named to Top 50 of FORTUNE World’s Most Admired Companies List for Second Consecutive Year
SAN FRANCISCO--(BUSINESS WIRE)--Jan 23, 2019--The Charles Schwab Corporation has been named as one of FORTUNE magazine’s top 50 World’s Most Admired Companies for the second straight year. In the annual survey, which measures nine attributes related to corporate reputation and financial performance, Schwab also earned the top spot for innovation in the Securities and Asset Management category of the list, where it finished No. 2 overall.
“We are humbled to be included again on this list of the Most Admired Companies in the world,” said Schwab President and CEO Walt Bettinger. “Every success we achieve is a reflection of the trust our clients place in us. Every day we ask ourselves how we can better serve our clients, offer them better value and serve them the way we would want to be served, which is the heart of our long-standing ‘Through Clients Eyes’ strategy. And, of course, this recognition would not be possible without the tireless commitment of our dedicated employees, who live our values day in and out.”
Schwab’s focus on respecting fellow employees, creating a culture of service and reinforcing the power of teamwork has consistently resulted in the company’s recognition as a top place to work in major markets that Schwab serves and as a Gallup Great Workplace. Learn more about Schwab’s recognition as an employer of choice here.
FORTUNE collaborated with their partner Korn Ferry on this survey of corporate reputation. They began with a universe of about 1,500 candidates: the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies FORTUNE’s Global 500 database that have revenues of $10 billion or more. They then winnowed the assortment to the highest-revenue companies in each industry, a total of 680 in 30 countries. The top-rated companies were picked from that pool of 680; the executives who voted work at the companies in that group.
To determine the best-regarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company’s score must rank in the top half of its industry survey to be listed.
Results were not published in the following categories owing to insufficient response rates: cable and satellite providers, petroleum refining, pipelines, and U.S. Energy.
To select the 50 All-Stars, Korn Ferry asked 3,750 executives, directors, and securities analysts who had responded to the industry surveys to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year’s surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry.
The difference in the voting rolls explains why some results can seem at odds with each other. For example, AT&T fell off the All-Stars list this year but ranked No. 1 within the telecommunications category when votes from only those in that industry were counted.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
About The Charles Schwab Corporation
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 355 offices and 11.6 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.3 million banking accounts, and $3.25 trillion in client assets as of December 31, 2018. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org ), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.
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© 2019 Charles Schwab & Co., Inc. Member SIPC.
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CONTACT: Mayura Hooper
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: The Charles Schwab Corporation
Copyright Business Wire 2019.
PUB: 01/23/2019 02:40 PM/DISC: 01/23/2019 02:40 PM