Charles Schwab launches Aus firm, appoints MD

US-based financial services firm, Charles Schwab, has announced the launch of Charles Schwab Australia and the appointment of John-Paul Drysdale as the Australian firm's managing director, effective September 2017.

In a statement, Charles Schwab said that the re-establishment of the firm's Australian presence follows the US firm's acquisition of Chicago-based broker dealer, optionsXpress, and that Charles Schwab Australia will provide "investment products and services to help individuals access and navigate the US market."

Drysdale previously spent 12 years as managing director of the Australian arm of optionsXpress. Before that, he founded Hubb Financial Group and spent 14 years as the firm's managing director.

Commenting on Charles Schwab's expansion into Australia, Drysdale said: "At Charles Schwab we believe all Australians should have greater access to international investing and in doing so have the ability to diversify their portfolios and access opportunities beyond Australia."