Schwab Names Former Barclays Exec President and CEO of Investment Management Unit

Charles Schwab Corp. announced Wednesday evening that it named Marie A. Chandoha president and chief executive officer of Charles Schwab Investment Management Inc., which is the investment advisor to Schwab and Laudus Funds.

She was hired by Schwab in September as chief investment officer of Charles Schwab Investment Management, which managed nearly $190 billion in mutual fund and separate account assets as of Sept. 30. Before that, she was the global head of the fixed income business at Barclays Global Investors, which was acquired by BlackRock.

Before joining Barclays in 2007, she was co-head and senior portfolio manager in charge of the Montgomery fixed income division at Wells Capital, a senior bond strategist at Goldman Sachs, and managing director responsible for the global fixed income research and economics department at Credit Suisse First Boston. Previously, Chandoha was a mortgage securities research analyst at Morgan Stanley and an economist at the Federal Reserve Bank of New York.

Chandoha will report to Schwab CEO Walt Bettinger. She replaces Randy Merk, who has taken a “special project” role at Schwab.

Schwab, which is based in San Francisco, has more than 300 offices and 7.9 million client brokerage accounts, 1.5 million corporate retirement plan participants, 673,000 banking accounts, and $1.5 trillion in client assets.