Charles Schwab’s Top Investor Exits $1.4 Billion Stake, FT Says
- Florida-based GQG Partners sold entire 1% stake last month
- Schwab has previously said the brokerage firm remains healthy
Charles Schwab runs brokerage, banking and asset-management businesses.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
A top investor in Charles Schwab Corp. sold its entire $1.4 billion stake in the brokerage during last month’s US banking turmoil, according to Financial Times.
Rajiv Jain’s GQG Partners had been among Schwab’s top 15 shareholders with a stake of just under 1% as of Dec. 31. It was one of the only active managers with such a large position before exiting, the newspaper said.