DALLAS — The Charles Schwab Corp.’s big move to North Texas is getting closer.
The financial services company announced Tuesday it expects to move its corporate headquarters designation from San Francisco to Hillwood's Circle T Ranch in Westlake, effective Jan. 1. The company has now closed its acquisition of TD Ameritrade, creating a massive player in the space.
Already, Schwab has more than 2,500 employees at its Westlake campus, and approximately 2,000 employees in Southlake are at TD Ameritrade’s location, according to a spokesperson. The locale was picked and designed as a more centrally located hub.
“We remain in the planning stages of the integration and have no decisions to announce about future plans at this time,” the spokesperson said, noting the process is expected to take between 18 and 36 months from the close of the transaction.
While North Texas has been the destination point for many companies looking to relocate their headquarters, the move by Schwab is particularly significant for the region. It’s one of the big names in the financial services sector – and beyond — bringing a company that boasts nearly $50 billion in market valuation.