In yet another senior management change, Charles Schwab & Co. executive
Mr. Seip, who also oversaw Schwab's international business, is the third
Lawrence J. Stupski, a vice chairman, retired in December, while Tim
Another senior manager, Beth Sawi, is expected to take a sabbatical, a
Mr. Seip, a 15-year veteran of Schwab, said that the senior departures
His retirement was announced with several other management changes at
Linnet F. Deily, a former chief executive of First Interstate Bancorp in
Ms. Deily, who previously headed investment management at Schwab, will
Steven L. Scheid, also a First Interstate veteran, was named to head
He will retain his current role as chief financial officer, said the
Luis E. Valencia, chief administrative officer, was named head of
A Schwab spokeswoman said there were no "losers" in Thursday's changes
The changes reflect a movement away from pure discount brokerage to
"We're trying to really recreate what full-service is all about."