Charles Schwab leaves Australia for a second time

Pedro Gonçalves
clock • 1 min read

Charles Schwab, the NYSE-listed American wealth manager and brokerage, is giving up on the Australian market for a second time after two years. The company's Sydney-based office led by managing director John-Paul Drysdale will close next month but the firm will continue to service Australian clients through US operations. Schwab used to have an operation in the country, but closed it, and left the Australian market, in 2000, in response to what the company said was "a range of market circumstances at that time". At the time, TD Waterhouse Investor Services was reported as having agree...

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