If you experience any issues with this process, please contact us for further assistance. He has served as chairman of the U.S. Treasury Department Borrowing Advisory Committee and as an executive committee member of the Board of Directors of the Securities Industry and Financial Markets Association. Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. After submitting your request, you will receive an activation email to the requested email address. You can sign up for additional alert options at any time. Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. Equity Loans, Personal The following factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the effect of the coronavirus disease 2019 pandemic and measures taken to mitigate the pandemic, including their impact on our credit quality and business operations as well as their impact on general economic and financial markets; changes in economic variables, such as the availability of consumer credit, the housing market, energy costs, the number and size of personal bankruptcy filings, the rate of unemployment, the levels of consumer confidence and consumer debt, and investor sentiment; the impact of current, pending and future legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to accounting guidance, tax reform, financial regulatory reform, consumer financial services practices, anti-corruption and funding, capital and liquidity; the actions and initiatives of current and potential competitors; the company's ability to manage its expenses; the company's ability to successfully achieve card acceptance across its networks and maintain relationships with network participants and merchants; the company's ability to sustain its card, private student loan and personal loan growth; the companys ability to increase or sustain Discover card usage or attract new customers; difficulty obtaining regulatory approval for, financing, closing, transitioning, integrating or managing the expenses of acquisitions of or investments in new businesses, products or technologies; the company's ability to manage its credit risk, market risk, liquidity risk, operational risk, compliance and legal risk, and strategic risk; the availability and cost of funding and capital; access to deposit, securitization, equity, debt and credit markets; the impact of rating agency actions; the level and volatility of equity prices, commodity prices and interest rates, currency values, investments, other market fluctuations and other market indices; losses in the company's investment portfolio; limits on the company's ability to pay dividends and repurchase its common stock; limits on the company's ability to receive payments from its subsidiaries; fraudulent activities or material security breaches of its or others key systems; the company's ability to remain organizationally effective; the effect of political, economic and market conditions, geopolitical events, climate change and unforeseen or catastrophic events; the company's ability to introduce new products or services; the company's ability to manage its relationships with third-party vendors, as well as those which we have no direct relationship such as our employees internet service providers; the company's ability to maintain current technology and integrate new and acquired systems and technology; the company's ability to collect amounts for disputed transactions from merchants and merchant acquirers; the company's ability to attract and retain employees; the company's ability to protect its reputation and its intellectual property; the companys ability to comply with regulatory requirements; and new lawsuits, investigations or similar matters or unanticipated developments related to current matters. David L. Rawlinson is the president, chief executive officer and a member of the board of directors for Qurate Retail, Inc. which is comprised of seven leading retail brands and primarily operates e-commerce and digital shopping hubs. 2500 Lake Cook Road Riverwoods Illinois 60015 United States. This was partially offset by higher PULSE and Network Partners revenue. In 2021, Owen retired from Regions Financial after a successful 14-year tenure with the company where he oversaw the banks technology transformation, cybersecurity, data and analytics and artificial intelligence (AI) efforts. RIVERWOODS, Ill.-- ( BUSINESS WIRE )--Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the company's Board of Directors . Prior thereto, Mr. Owen served in various senior management roles at the bank, including head of Operations and Technology, head of Consumer Services Group, head of Regional Banking group, and head of Enterprise Services and Consumer Banking. Maheras, 57, joined the board in 2008. I am honored to take over as chairman and look forward to working with my fellow board members and Discovers strong leadership team to deliver on the companys purpose of helping people achieve a brighter financial future.. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Dan Capozzi was named executive vice president, president - US Cards in December 2020. RIVERWOODS, Ill.--(BUSINESS WIRE)--The Board of Directors of Discover Financial Services declared a quarterly cash dividend of $0.44 per share of common stock payable on June 3, 2021, to holders . The Digital Banking segment focuses on consumer banking and lending products, specifically Discover-branded credit cards issued to individuals on the Discover Network and other consumer banking products and services including private student loans, personal loans, home loans, and deposit products. Eric Wasserstrom Discover Financial Services published this content on 27 April 2022 and is solely responsible for the information contained therein. This press release features multimedia. Callas is situated in the Var department and Provence-Alpes-Cte d'Azur region. Chicago . He served as managing partner and chief executive of Andersen Worldwide, a global professional services organization, which included Arthur Andersen and the company now known as Accenture from 1989 to 1997. Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Prior to joining Discover, he served as chief compliance officer at Wells Fargo where he oversaw the transformation of the enterprise compliance function, and Barclays where he held the roles of chief compliance officer and chief internal auditor. Card yield was 12.81%, up 29 basis points from the prior year primarily driven by higher market rates and lower interest charge-offs partially offset by a higher mix of receivables at a promotional rate. The Discover Board of Directors has appointed board member Thomas Maheras as Chairman, effective immediately, following the unexpected May 1 death of Chairman Lawrence Weinbach. View source version on businesswire.com: https://www.businesswire.com/news/home/20200504005773/en/. Us, Terms Key People Discover Financial Services Board of Directors Name/Title Current Board Membership expand All Executives Roger C. Hochschild President, Chief Executive Officer & Director Amir S.. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Agreement, Home Our directors have a combined wealth of leadership experience derived from extensive service guiding large, complex organizations as executive leaders or board members, and in government and academia. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. Toms replacement of Larry under these unfortunate circumstances will provide continuity for Discover. Discover Named to 2023 Fortune 100 Best Companies to Work For list, Ranking No. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. DISCOVER FINANCIAL SERVICES NAMES JOSEPH F. EAZOR TO ITS BOARD OF DIRECTORS . He previously served as vice president of operations for Graingers online business in 2015 and as deputy general counsel and corporate secretary from 2012 to 2014. a Friend, About His experience and knowledge of the business will be invaluable to us in his new capacity as chairman, said Hochschild, who also is a board member. Active in the community, Mr. Owen has served on the boards of directors for the Birmingham Business Alliance, Innovation Depot and the United Way of Central Alabama, as well as the advisory board for the UAB Collat School of Business. Owens track record of innovation for Regions includes his fintech partnership strategy, launching a new business focused on serving the underbanked population and the development of Regions mobile app, John brings nearly four decades of experience in the banking industry and has a wealth of knowledge related to technology transformation to enhance the customer experience, said Roger Hochschild, CEO and President of Discover. Since its inception in 1986, the company has become one of the largest card issuers in the United States. For more information, visit www.discover.com/company. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. Locator, Credit Exhibit 99.1 . The dividend equals $27.50 per depositary share, each representing 1/100th interest in a share of the Series C Preferred Stock. Discover Financial Services Names David L. Rawlinson II to Its Board of Directors, https://www.businesswire.com/news/home/20210223006141/en/, Contact Our solid second quarter results reflected robust revenue growth, characterized by strong sales, increased receivables growth and margin expansion, said Roger Hochschild, CEO and President of Discover. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. Popular places to visit nearby include Draguignan at 8 km and Seillans at 10 km. Resources, ATM Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Discover Financial Services (NYSE: DFS) announced today that its Board of Directors has approved a new $1.1 billion share repurchase program, having suspended share repurchases since March 2020 in response to the economic recession. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. He is a former presidential appointee to the George W. Bush and Barack Obama administrations and served as a senior advisor for economic policy with the White House National Economic Council. Mr. Hochschild is also on the board of directors of Principal Financial Group. He spearheaded Simplify and Grow, a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Inclusion, Accept Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. Wong was elected to the Board on July 18 and serves on the Risk Oversight Committee of Discover's Board of Directors. Eric Wasserstrom To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Robert Weiss Credit Card, NHL Additional factors that could cause the company's results to differ materially from those described in the forward-looking statements can be found under Risk Factors, Business - Competition, Business - Supervision and Regulation and Management's Discussion and Analysis of Financial Condition and Results of Operations in the company's Annual Report on Form 10-K for the year ended December 31, 2021, "Risk Factors" and Management's Discussion & Analysis of Financial Condition and Results of Operations in the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 which is filed with the SEC and available at the SEC's internet site (http://www.sec.gov) and subsequent reports on Forms 8-K and 10-Q, including the company's Current Report on Form 8-K filed today with the SEC. Chantal currently serves as Director and Senior Counsel - Litigation at Discover Financial Services. Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. From 2000 to 2009, he was president and chief executive officer of Ovation Pharmaceuticals Inc., a biopharmaceutical company he founded in 2000. Services may be provided by Western Union Financial Services, Inc. NMLS# 906983 and/or Western Union International Services, LLC NMLS# 906985, which are licensed as Money Transmitters by the New York State Department of Financial Services. Locator, Credit Prior to joining Discover he served as CIO for NN Group in the Netherlands, a spin-off of ING. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Discover, Corporate Interest expense as a percent of total loans decreased 7 basis points from the prior year period, primarily driven by the maturity of high coupon consumer CDs and a favorable shift in the funding mix. If JavaScript is disabled, some of the functionality on our website The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. He was executive vice president, chief administrative and strategic officer for Morgan Stanley from 2001 to 2004, and was executive vice president, chief marketing officer - Discover from 1998 to 2001, when Discover was a part of Morgan Stanley. Discover Financial Services (NYSE: DFS): Second Quarter 2022 Results 2022 2021 YOY Change Total loans, end of period (in billions) $99.3 $87.7 13% T . Media Contact Total loans ended the quarter at $99.3 billion, up 13% year-over-year, and up 6% sequentially. 81. Agreement, Home See terms and conditions for details. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 224-405-1888 He was chief executive officer of OptumRx, a pharmacy care services company, from 2015 to 2017. Prior to joining Discover, Andy was an independent advisor from 2017 to 2018, and held various positions at McKinsey & Company from 1995 to 2017, where he was elected a senior partner in 2009. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. You must click the activation link in order to complete your subscription. From November 2015 until joining Nielsens management, he served as President of the Global Online Business at W.W. Grainger, Inc. Mr. Rawlinson joined Grainger in July 2012 and previously served as the Vice President of Operations for the Global Online Business, and prior to that, Vice President, Deputy General Counsel and Corporate Secretary of Grainger. Ms. Bush was the inaugural head and managing director of the Federal Housing Finance Board, where she established financial policies and oversaw management and safety and soundness for the nations Federal Home Loan Banks. Locator, Credit Ms. Duncan also was on the KPMG LLP board of directors from 2009 to 2013, and served as chair of the board's nominating committee as well as the partnership and employer of choice committee. About Discover . In 2009, Ovation Pharmaceuticals was acquired by Lundbeck, Inc. Mr. Aronin served as president and chief executive officer of Lundbeck, Inc. during its acquisition and integration of Ovation Pharmaceuticals. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Investor Relations For more information, visit www.discover.com/company. 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