Schwab Wants to Add More Private-Firm Investments, CEO Says

Charles Schwab Corp. would like to give its retail investors more opportunities to take stakes in private companies as a growing number of firms become industry giants before going public, Chief Executive Officer Rick Wurster said.

“There’s a lot more private companies today than there used to be, and fewer public companies, and so I do think it makes sense to think about providing direct access to retail investors to private companies,” Wurster said in a Bloomberg Television interview Wednesday. “And that’s something we’re looking at and thinking about how we participate in.”