The Charles Schwab Corporation announced several executive transitions as part of the firm?s long-term succession planning strategy. Peter Crawford, after a distinguished 22-year career with the firm, including serving as Chief Financial Officer since 2017, has decided to retire from Schwab following a planned transition period. Crawford will be succeeded by Mike Verdeschi who will join the firm on May 20, 2024 as a Managing Director and Deputy Chief Financial Officer.

The firm expects to appoint Verdeschi as Chief Financial Officer (CFO) following the transition period with Crawford. Verdeschi will immediately assume responsibility for the company?s treasury and controller functions, as well as financial planning and analysis. He was most recently Treasurer of Citigroup, where he spent over 30 years.

During his tenure at Citigroup, Verdeschi held leadership positions in finance, treasury, and product with increasing levels of responsibility at the firm, including previously serving as Treasurer, Chief Investment Officer and Head of Rates Portfolio Management. He holds a Bachelor of Business Administration and a Master of Business Administration, both from Iona University.