Charles Schwab & Corporation, an American banking and brokerage company is based in San Francisco, California. It was initially launched in 1963 by Charles R. SchwabЊжand his two partners as an investment newsletter publisher and later by 1971 it emerged as a Mortar brokerage firm and newsletter publisher. The Company was named Charles Schwab & Company when the former Commander CorporationдЫЄs stocks were bought by Charles R. Schwab. The firm soon started offering discount brokerage and became one the leading discount brokerage firms in the world.