Products December 11, 2009

Schwab Launches Additional Low-Cost ETFs

Charles Schwab Investment Management, Inc., has launched two more of its exchange-traded funds (ETFs) with low operating expense ratios and commission-free online trading in Schwab accounts.

Reported by

The Schwab U.S. Large-Cap Growth ETF (SCHG) and the Schwab U.S. Large-Cap Value ETF (SCHV) began trading today. Last month, Schwab launched other low-cost ETFs: U.S. Broad Market (SCHB), U.S. Large-Cap (SCHX), U.S. Small-Cap (SCHA), and International Equity (SCHF) (see “Schwab Unveils 8 ETFs”).

The new ETFs have expense ratios of 0.15%, and like the first four funds, can be bought and sold commission-free online in Schwab accounts.

Commission-free online trading of Schwab ETFs is available to individual investors at Schwab, to independent investment advisers who use Schwab’s custodial services, and through Schwab retirement accounts that permit trading of ETFs.

Two additional Schwab ETFs, covering emerging markets and international small-cap equity, are expected to be launched in January 2010, the company said.

Deals & People December 11, 2009

DWS Taps Two for Sales Posts

DWS Investments, the U.S. retail unit of Deutsche Bank’s global Asset Management division, has appointed Gregory Troccoli and Robert Kendall as directors.

Reported by

A news release said Troccoli will serve as senior national account manager responsible for managing client relationships with broker/dealers, private banks, and trusts, and Kendall will serve as national retail sales manager responsible for managing client relationships with broker/dealers, financial advisers, banks, and registered investment advisers.

Troccoli will be based in New York, while Kendall will be based in Chicago. They will both report directly to Michael Woods, U.S. head of Distribution for DWS Investments Distributors, Inc.

The announcement said Troccoli has more than two decades of experience managing domestic and international sales teams for retail and institutional channels, and was a managing director, co-head of platform sales at Bear Stearns. He also served as chief technical analyst for Prudential Securities.

Kendall has more than 14 years of experience in building and managing retail sales teams. Most recently he served as executive director, head of national sales and key account management for the national wirehouse & major bank channel of Van Kampen Investments.

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