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Charles Schwab Corp at Piper Sandler Global Exchange and FinTech Conference (Virtual) Transcript
Good morning. And welcome to our second session. I'm very pleased to have Walt Bettinger, the CEO of Schwab. I think everybody knows Walt. He's been the CEO since 2008. Schwab's a $48 billion market cap. We were joking even before we started. He's been through a crisis before, and he's fought a lot of headwinds in his career at Schwab. But he's also had plenty of success as well.
So first, thank you, Walt. I think this is your first conference, and it truly is an end of an era.
Questions & Answers
And that's where my first question starts. You communicated that 0 commissions that you were reducing your dependency on the commissions for a number of years. And so when it happened, I guess, we shouldn't -- I don't think had been surprised. But did you think that it would occur, it would actually initiate the consolidation in the industry? You're
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