Charles R. Schwab, chairman and chief executive officer of the nation's largest discount brokerage, is always ready to try something new to capture assets - even teaming up with banks.
All year, the financial services industry was abuzz over his extremely successful mutual fund supermarket, OneSource. Suddenly, it seemed, Charles Schwab & Co. had become the very model of sales savvy and technological prowess. NationsBank Corp. and Mellon Bank Corp.'s Dreyfus subsidiary were among those that trotted out their own versions of OneSource this year. Last week, Mr. Schwab capped a big year by striking deals to give customers of two giant banks - KeyCorp and First Union Corp. - access to One Source. With a single phone call, investors can choose from a vast menu of no-load funds. Holdings are tracked on consolidated statements.