Schwab Institutional named Kevin A. Rowell a sales executive vice president on Tuesday, and the parent Charles Schwab Corp. appointed Rebecca Saeger, a former Visa U.S.A. branding executive, to a new role in its marketing department.
Mr. Rowell was president of Safeco Mutual Funds in Redmond, Wash. In his new role he will be responsible for Schwab Institutional's relationships with more than 5,100 independent advisory firms, as well as the Schwab division's national sales force.
Ms. Saeger joined the San Francisco company Monday as an executive vice president of brand management and marketing communications and will report to Jody Bilney, Schwab's chief marketing officer.
Independent advisory firms account for about 30% of the $1 trillion of investor assets under custody at Schwab. It is the largest provider of custody and services for independent advisory firms.
Mr. Rowell had been president of Safeco Mutual Funds since September 2002. Safeco announced the sale of its fund business to an investor group on March 15.
Ms. Saeger will be responsible for companywide and enterprise marketing aimed at promoting Schwab's visibility, the company said in a press release. She worked seven years at Visa, where she was on the executive management committee.
Ms. Bilney, who joined the company in June 2002 from Verizon Communications Inc. in New York, where she was in charge of brand management, has seen her role expand recently, a spokeswoman said. Her job has expanded to include work on strategic initiatives such as Schwab's recent launching of a strategy, Schwab Personal Choice, that targets mass-affluent investors, the spokeswoman said.
