Charles Schwab recovering from heart surgery

SAN FRANCISCO (AP) — Charles Schwab, the founder and chairman of discount brokerage Charles Schwab Corp., is recuperating after undergoing successful heart valve replacement surgery on Friday.

The financial services provider said Monday that the 73-year-old Schwab is expected to return home in the next few days.

Schwab founded the San Francisco-based company in 1971 as a traditional brokerage, and in 1974 became a pioneer in the discount brokerage industry. The company now has more than 300 offices, with 8 million client brokerage accounts and $1.5 trillion in client assets.

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