SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced that it has been selected as one of Fortune's top 50 World's Most Admired Companies for 2016, and was ranked #1 for innovation and social responsibility in the Securities and Asset Management category of the list where it ranked #2 overall.
“We are honored to have been chosen as one of the 50 Most Admired Companies in the world and a leading firm in our industry again this year,” commented Schwab President and CEO Walt Bettinger. “Earning our clients’ trust and confidence is the underpinning of our business strategy, and the “most admired” recognition validates our commitment to this effort.”
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
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Methodology
THE MOST ADMIRED LIST is the definitive report card on corporate reputations. Korn Ferry Hay Group started with approximately 1,500 companies: the Fortune 1,000— the 1,000 largest U.S. companies ranked by revenue—and non-U.S. Companies in Fortune’s Global 500 database with revenues of $10 billion or more. Korn Ferry Hay Group then selected the 15 largest for each international industry and the 10 largest for each U.S. industry, surveying a total of 652 companies from 30 countries. To create the 54 industry lists, Korn Ferry Hay Group asked executives, directors, and analysts to rate companies in their own industry on nine criteria, from investment value to social responsibility. A company’s score must rank in the top half of its industry survey to be listed.
Because of the distribution of responses, only the aggregate industry scores and ranks are published in Construction and Farm Machinery; Mining, Crude-Oil Production; and Petroleum Refining. Because of an insufficient response rate, the results for companies in the Energy: U.S. and Pipelines industries are not reported.
To arrive at the top 50 Most Admired Companies overall (our “All-Stars”), Korn Ferry Hay Group asked 4,000 executives, directors, and securities analysts who had responded to the industry surveys to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year’s surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry. The difference in the voting rolls is why some results can seem anomalous. For example, St. Jude Medical ranks No. 40 on the overall Most Admired list, returning after a two-year hiatus. But within the medical products and equipment subgroup, St. Jude Medical, based on its peers’ responses, missed the “Industry Standouts” cut by ranking in the bottom half of the group.
