Charles Schwab announced Thursday that it has promoted Walt Bettinger from executive vice president and head of Schwab Investor Services to president and chief operating officer.

In his new position, Bettinger will be responsible for a wide array of businesses, including Schwab Investor Services, Schwab Corporate & Retirement Services, mutual funds, banking, technology and operations.

In this position, Bettinger is in the No. 1 role behind founder, Chairman and CEO Charles Schwab.

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