Schwab Is `Fighting On Three Fronts'

As rivals invade its turf, the broker is inventing new ways to retain clients

On Feb. 5, David S. Pottruck, president of Charles Schwab & Co., nearly fell off his Stairmaster when he read that rivals Morgan Stanley & Co. and Dean Witter, Discover & Co. planned to merge. But after regaining his stride, Pottruck dismissed any threat from the unexpected union. "A grizzly bear and a koala bear just made it in the zoo," he quips. "Why should I be losing sleep over that?"

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