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Wednesday, October 03, 2018

Chandoha Prepares to Pass the Reins

News summary by MFWire's editors

Marie Chandoha is preparing to retire and pass the reins. Her successor is a 15-year company veteran.

Marie. A Chandoha
Charles Schwab Investment Management
CEO
Chandoha, CEO of Charles Schwab Investment Management [profile], plans to retire at the end of March 2019, a Schwab spokeswoman confirms. Chandoha, age 57, passed the CSIM president job to Jon de St. Paer, 45, senior vice president of business strategy and product management, on October 1; he will take over as CEO when she retires next.

Jonathan de St. Paer
Charles Schwab Investment Management
President
Chandoha reports to Joseph Martinetto, senior executive vice president and chief operating officer of all of Charles Schwab.

Chandoha took over CSIM in 2010, when the brokerage giant's asset management arm had $197 billion in AUM (September 2010). CSIM's AUM has risen 84 percent since then, to $362 billion as of August 2018. Its ETF business, in particular, has boomed, jumping to the number five spot in the industry by AUM (as of October 2, 2018).

An alumna of Harvard, Chandoha previously worked at BlackRock, BGI, Wells Capital Management, Goldman Sachs, Credit Suisse, Morgan Stanley, and the Federal Reserve Bank of New York.

De St. Paer, an alumnus of UC San Diego and the Wharton School, first joined Schwab in 2003 as vice president of investment management services before rising to lead strategy, product development, and product management for CSIM. Before Schwab, he worked at McKinsey and Bear Stearns. 

Edited by: Neil Anderson, Managing Editor


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