Schwab client-trading volume down in July

Last month's daily average volume of 291,100 trades also fell compared with June of this year, with a decline of 8 percent on that basis.

AUG 14, 2009

By ecooper

Charles Schwab Corp. said Friday that its clients' daily trading volume fell 14 percent in July compared with the same month a year ago. Last month's daily average volume of 291,100 trades also fell compared with June of this year, with a decline of 8 percent on that basis. The San Francisco-based financial services company said new and existing clients brought $5.6 billion in net new assets to Schwab in July, and the company's total client assets were valued at nearly $1.29 trillion at the end of the month. That figure is down 8 percent from July 2008 and up 5 percent from June 2009. Shares of Schwab closed Thursday at $18.61, down 13 cents for the day.

Former Wells Fargo exec Brendan Krebs emerges at PNC

The 25-year industry veteran previously in charge of the Wall Street bank's advisor recruitment efforts is now fulfilling a similar role at a rival firm.