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Charles Schwab has recently been on the search for a director to lead the firm’s long-short separately managed account initiative, someone responsible for building a team focused specifically on long-short SMAs and creating companywide coordination for the business, according to a job posting. Schwab did not respond to questions, including if the position has been filled. The move speaks to a broader push into the strategies, which are gaining traction as wealthy investors look for ways to diversify concentrated stock positions without triggering massive tax bills. Sign up for The Daily Upside at no cost for premium analysis on all your favorite stocks.