UPDATE 3-Charles Schwab has heart surgery, is recuperating

* Company says founder recuperates from successful surgery

* CEO says Schwab, 73, expected to return home soon

* Schwab shares rise
(Adds details on Schwab history, advertising, Forbes ranking)

By Jonathan Stempel

NEW YORK, Dec 27 (BestGrowthStock) – Charles Schwab, the chairman
and founder of Charles Schwab Corp (SCHW.N: ), is recuperating
from successful heart valve replacement surgery, the largest
U.S. discount brokerage said on Monday.

Schwab, 73, is resting comfortably following Friday’s
surgery and expects to return home in the next few days, Chief
Executive Walter Bettinger said in a statement.

Matt Hurwitz, a company spokesman, had no additional
comment.

Charles Schwab is a pioneer in the discount brokerage
industry, which gives small investors direct access to Wall
Street by charging lower fees than full-service brokerages.

He has been chairman of Schwab since the company was
incorporated in 1986, and his influence is reflected in the
“Talk to Chuck” advertising slogan, begun in 2005.

Discount brokerages typically execute orders on behalf of
investors who decide on their own what to buy and sell.

According to Schwab’s website, Charles Schwab started the
San Francisco-based company as a traditional brokerage in 1971,
and entered the discount brokerage business three years later.

He returned as sole chief executive in 2004, replacing
David Pottruck, to restore investor confidence after the
company’s profit, revenue and stock price fell. Bettinger
succeeded Schwab as chief executive in 2008.

Charles Schwab is the 83rd-richest American, worth $3.7
billion, Forbes magazine said in September.

Schwab said it ended November with $1.51 trillion of client
assets, up 8 percent from a year earlier, and 7.95 million
active brokerage accounts. It has more than 300 offices.

Shares of Schwab rose 10 cents to $17.12 in morning trading
on the New York Stock Exchange.
(Reporting by Jonathan Stempel. Editing by Robert MacMillan)

UPDATE 3-Charles Schwab has heart surgery, is recuperating