Charles Schwab Investment Management Appoints Randall Merk as President.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 8, 2002 The Charles Schwab Charles Schwab can refer to:
CSIM Cryogenic Systems Integration Model CSIM C-language-based Simulator CSIM Client Side Image Mapping ). Mr. Merk, 48, will oversee all aspects of CSIM, including $144 billion in Schwab's proprietary mutual funds and money market funds. He will report to Jeff Lyons, Executive Vice President, Asset Management Products and Services. Mr. Merk joins Schwab from American Century Companies, Inc., in Kansas City, where he was President and Chief Investment Officer of American Century Investment Management, Inc. Here he directed an organization of 280 professionals located in Kansas City, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. and Singapore managing $75 billion in assets. Mr. Merk brings to Schwab 24 years of experience in the asset management industry. "Randy's keen sense of commitment to the client is a great fit with Schwab," said Mr. Lyons. "Bringing someone of Randy Merk's caliber in terms of leadership and investment management experience is a demonstration of Schwab's commitment to our asset management business." Mr. Merk joins Schwab in early September and will oversee all functions of CSIM including Portfolio Management, Fund Administration & Business Management, CSIM Legal and CSIM's Investment Technology Solutions groups. "I am thrilled to join Schwab at this particular juncture, as they continue to create asset management products that are clearly focused on client needs. That combined with CSIM's broad and talented roster of investment portfolio professionals makes me think there has never been a better time to join this organization," said Mr. Merk. About Charles Schwab Investment Management, Inc. Founded in 1991, Charles Schwab Investment Management, Inc., manages $144 billion and ranks as the nation's 11th-largest mutual fund family, based on assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . It is also the country's fifth largest money market fund manager and second-largest provider of retail index funds. The fund family's 29 equity funds have grown by more than 1,000 percent in assets since the beginning of 1996. CSIM also manages seven bond funds, including both taxable and tax-free funds and 14 money market funds, which include both taxable and tax-free (municipal) funds. About Charles Schwab The Charles Schwab Corporation (NYSE NYSE See: New York Stock Exchange :SCH SCH School SCH Schedule SCH Search SCH Semester Credit Hours SCH Santander Central Hispano (bank in Spain) SCH Socket Head SCH Synchronization Channel SCH Succinylcholine SCH Space Center Houston ), through Charles Schwab & Co., Inc. (member SIPC/NYSE), U.S. Trust Corporation, CyberTrader, Inc. (member SIPC/NASD) and its other operating subsidiaries, is one of the nation's largest financial services firms serving 8.0 million active accounts with $797 billion in client assets through 428 domestic offices, 5 regional client telephone service centers and automated telephonic and online channels. The Charles Schwab, U.S. Trust and CyberTrader Web sites can be reached at www.schwab.com, www.ustrust.com and www.cybertrader.com, respectively. [0802-9818] Charles Schwab & Co., Inc. Member: SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. / New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and Other Principal Stock and Options Exchanges. |
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