Charles Schwab & Co. of San Francisco has opened a new call center with 400 employees in Austin, Texas.

Schwab anticipates hiring an additional 200 employees by the end of the year, a total of 2,000 by the end of next year, and eventually more than 3,500 employees.

An additional 400,000 accounts so far this year prompted Schwab to open a fifth call center in Austin, a Schwab spokesperson said. Schwab currently has 7.3 million accounts, up from 6.9 million at the end of 1999, the spokesperson said.

Schwab's investor centers employ a mix of registered representatives, technicians, operations specialists, call team members and managers. Schwab's four other U.S. call centers are in Denver, Indianapolis, Orlando, Fla. and Phoenix, Ariz.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.