Longtime Schwab Exec Saeger Leaves Company

Longtime Charles Schwab marketing executive Becky Saeger has left the company. Saeger joined Schwab in 2004 as evp of brand management and marketing communications, and in 2005, became chief marketing officer. On her watch, the San Francisco–based company reviewed creative duties once and media duties twice.

Other Schwab marketing executives have assumed Saeger’s responsibilities, while the company searches for a new CMO, a client representative said.

Major media spending on the brand exceeded $80 million last year, down from nearly $115 million in 2008, according to Nielsen. The total in the first nine months of 2010 was $51 million (those figures don’t include online spending).

Havas’ Euro RSCG in New York is the lead creative agency, and Interpublic Group’s Universal McCann in San Francisco handles media planning and buying. Euro landed its business in December 2004, and UM picked up its account in July 2009 after a review. Before UM, Omnicom Group’s PHD in San Francisco was Schwab’s media shop.

Asked if the company planned to review its creative business, the client rep replied in an e-mail: “We don’t have any plans right now to review the creative duties on the account.”