The agency won the account after a four-way pitch against WPP Group's Grey New York, Publicis Groupe's Publicis & Hal Riney and Wieden & Kennedy.
The decision comes after a three-month review and will see Euro RSCG create television and print advertising, as well as direct marketing activity for the San Francisco-based broker, which has suffered falling profits and senior management departures.
According to reports, the appointment of Euro RSCG came as something of a surprise because the agency was seen as an outsider for the account, which was previously handled by Omnicom Group's GSD&M in Austin, Texas.
Becky Saeger, executive vice-president for brand management and marketing communication at Schwab, said: "We are confident Euro RSCG has the vision and strategic and creative depth to help us build upon our foundation as a leading brokerage."
Havas is currently fighting to hang on to Intel, which said in October that it plans to review its $300m worldwide advertising account. The business is handled jointly by Euro RSCG and MPG, which is also battling to hold on to Volkswagen.
David Jones, CEO of Euro RSCG New York, who led the agency鈥檚 pitch, said, "This is a very exciting, major win and we are delighted to welcome Charles Schwab to our client roster. We will partner with this iconic financial services brand to tell its phenomenal story, leverage its power across all communications channels, and propel its growth and success. They have a tremendously accomplished marketing team and we look forward to working with them."
Last week, it was reported that Havas chief executive Alain de Pouzilhac flew to the US to personal take part in Euro RSCG's defence of its Intel business.
There is speculation that if the account does leave Euro RSCG the account could go to J Walter Thompson.
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