The company also consolidated key data, technology and Aladdin risk-management groups.
The FDIC has counted on Larry Fink to pick up after the SVB and Signature failures.
Yields are back after a "lost decade" of low interest rates.
More than $40 billion flowed into the firm's cash-management products in March.
Amid wild gyrations in financial markets, the shift in client assets isn't likely to jeopardize Schwab.
Fink also took a more muted tone on ESG in his most recent annual letter to corporate executives.
Schwab's shares tumbled last week as depositors pulled money from Silicon Valley Bank.
The firm has a broad base of customers and capital in excess of regulatory requirements, founder Charles Schwab said.
About $130 billion has been yanked out of the firm by clients since 2017.
That undercuts claims by Gov. Greg Abbott that the state has cut ties with the asset manager.
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