Charles Schwab and J.P. Morgan Join Forces in Fixed Income

Expanded Schwab Client Access to Fixed Income Securities and Research, Broad Distribution for J.P. Morgan

Thursday, April 22, 2010 5:00 am PDT



Public Company Information:

"Highest in Investor Satisfaction with Self-Directed Services"

SAN FRANCISCO--(BUSINESS WIRE)--Global investment bank J.P. Morgan and financial services firm Charles Schwab today announced an agreement that offers Schwab clients access to J.P. Morgan’s fixed income securities, including new-issue and secondary municipal bonds, corporate debt securities and non-convertible preferred securities. J.P. Morgan also agreed to provide Schwab clients with access to J.P. Morgan’s award-winning research covering fixed income markets and the economy.

Under the agreement, Schwab will be a preferred retail dealer for J.P. Morgan, further expanding the investment bank’s distribution channels. New issue and secondary fixed income securities from J.P. Morgan will be available to Schwab’s 7.8 million client brokerage accounts.

For Schwab, the arrangement is part of its ongoing effort to provide fixed income solutions to investors and independent investment advisors who serve them, whether they seek to achieve portfolio stability or generate income. The availability of J.P. Morgan’s research and fixed income products may help clients meet their investment goals.

J.P. Morgan is the number one overall debt underwriter and one of the top three municipal issue underwriters in the U.S., and is especially strong in the states where Schwab client desire for municipal securities is greatest. In 2009, J.P. Morgan underwrote $517 billion in the global debt markets and approximately $70 billion in the U.S. municipal bond markets, according to ThomsonReuters.

“We’re very pleased to be working with J.P. Morgan, a leading fixed income underwriter, to provide Schwab clients with significantly expanded access to initial bond offerings and award-winning research,” said Walt Bettinger, Schwab’s president and CEO. “Investors today are focused on managing their risk with an eye on the tax implications of their investment strategies. As a result, more and more Schwab clients are investing in fixed income, with a particular emphasis on municipal bonds, making this an ideal time to expand our clients’ access to an inventory of municipal and corporate bonds through an industry leader like J.P. Morgan.”

“Joining with Schwab will enable us to offer our fixed income issuer clients access to one of the largest brokerage platforms in the country,” said Jes Staley, CEO of J.P. Morgan’s Investment Bank. “We are pleased to offer Schwab's clients access to our fixed income securities and research to help them achieve their investment goals."

Schwab clients can now access J.P. Morgan's fixed income securities by contacting their financial consultant or investment advisor or by calling fixed income specialists at 877-908-8239. J.P. Morgan's research is available to clients through

About J.P. Morgan

J.P. Morgan is the investment banking arm of JPMorgan Chase & Co. (NYSE:JPM), a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. JPMorgan Chase is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. The firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about J.P. Morgan is available at

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 7.8 million client brokerage accounts, 1.5 million corporate retirement plan participants, 768,000 banking accounts, and $1.49 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Named “Highest in Investor Satisfaction with Self-Directed Services” by J.D. Power and Associates in 2009, its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at (0410-2631)

Photos/Multimedia Gallery Available:


Charles Schwab
Lara Edge, 415-667-0588
J.P. Morgan
Brian Marchiony, 212-270-2596

Multimedia Files:

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Walter W. Bettinger II, president and chief executive officer, The Charles Schwab Corporation (Photo: Business Wire)
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Jes Staley, chief executive officer, J.P. Morgan's Investment Bank (Photo: Business Wire)

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