When financial services firm Charles Schwab announced its $26 billion mega-merger with TD Ameritrade, it also dropped a bombshell about relocating the combined company’s headquarters from San Francisco to North Texas.
The Dallas Morning News talked to corporate relocation site selection expert John Boyd about Schwab’s decision to make its campus under construction in Westlake the new headquarters, and why even more California companies are likely to pack up and move to the Lone Star State in the future. One study estimates 13,000 companies fled the Golden State in a nine-year period from 2008 to 2016.
It’s been rumored for a long time that Schwab may be looking to get out of California. Why would the company choose to have this move coincide with a major acquisition like TD Ameritrade?
There’s a unique driver here above and beyond Dallas’s superior business climate versus San Francisco and that’s this new era of zero commission trading.