The company will expand its local workforce, which already includes more than 5,000 employees.

Charles Schwab is hiring more than 1,000 new jobs in North Texas and adding about 20% to its local workforce after relocating its headquarters to Westlake earlier this year.

The new positions will include Schwab and TD Ameritrade and include roles in financial advisory, customer service and technology, according to a press release on Thursday. The announcement comes as broker accounts have skyrocketed across the company, increasing 3.2 million in the first quarter of the year, beating the company’s total for 2020.

CONNECTED: Take a tour of Charles Schwab’s headquarters in Westlake

“Dallas-Fort Worth is a huge part of our history and our future,” said Rob Mundell, senior vice president of Talent Solutions, in a prepared statement. “With the region’s highly qualified talent pool, we have grown quickly at the Metroplex.”

The company employs more than 5,100 people in North Texas, around 2,500 of whom work from its headquarters in Westlake. The home base relocated in January following Schwab’s acquisition of TD Ameritrade in a $ 26 billion stock deal last year.

Weeks after the deal was closed, Schwab announced in a statement that it would cut its workforce by about 1,000 to cut redundant jobs in the companies, although the company did not reveal how many jobs in North Texas would be affected.

Part of the company’s brokerage success came in January when the day trading app Robinhood suspended buying Gamestop and other stocks, according to reports from the San Francisco Business Times.

“We are now realizing that when we integrate with TD Ameritrade we need to look at capacities in a completely different light,” said CEO Walt Bettinger when he called analysts in April, the San Francisco publication reported.

Bettinger and COO Joe Martinetto said on the call that the company needs to update its TD Ameritrade integration plan to keep up with demand, which has surpassed Schwab’s models. More than 1.5 million of the new brokerage accounts were new households – 70 percent of them were under 40 years old, Martinetto said.

The company offers its customers comprehensive investment and banking products and serves 32.1 million accounts worldwide with client assets of approximately 7.4 trillion US dollars. The company employs approximately 32,000 people worldwide and this hiring surge extends across the United States. It has grown its team of customer service reps by 10 percent since 2020, the press release said.