Schwab Forges Pact With America Online in Effort to
Wall Street Journal (11/01/00) Vol. 104, No. 42 p.C20; Smith, Randall

In a bid to jump-start account growth, Charles Schwab reports that it has entered into a strategic partnership with America Online (AOL). Under the deal, AOL customers would have access to and to Schwab's Web-based investment tools. AOL struck a similar bargain with Citigroup earlier this year. Analyst Henry McVey of Morgan Stanley Dean Witter says he likes the tie-up because of its potential to stimulate account growth for Schwab, which has slowed down. Joshua Rymer, senior vice president of brokerage at Schwab said the pact will also benefit AOL because Schwab will be promoting the company's relationship with AOL to current and potential Schwab customers.

Back   | Home   |  News Archive