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Agreement, Home Rawlinson was elected to Discovers Board of Directors and appointed to the Boards Audit Committee on Feb. 22. Since its inception in 1986,. Credit Card, Cardmember Wells Fargo Adjusts Discover Financial Services Price Target to $103 From $105, Maintai.. Free Resources From Discovery Education Support Financial Capability Month, Discover Financial Services Announces 2023 Annual Meeting of Shareholders, AL RAJHI BANKING AND INVESTMENT CORPORATION, HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, President, Chief Executive Officer & Director, Chief Financial Officer & Executive Vice President, Chief Human Resources & Administrative Officer. 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. Roger holds a bachelor's degree in economics from Georgetown University and an M.B.A. from the Amos Tuck School at Dartmouth College. Credit card loans ended the quarter at $79.2 billion, up 15% year-over-year. Scorecard, Cash a Friend, About Exhibit 99.1 . of Use, Credit Prior to joining Discover, You can sign up for additional alert options at any time. robertweiss@discover.com investorrelations@discover.com. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Locator, Credit Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. This press release contains forward-looking statements. For more information, visit www.discover.com/company. Resources, ATM CEO and Executive Team. 81. Discover, Corporate Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. 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. Ms. Duncan was admitted to the KPMG LLP partnership in 1987 and had more than 35 years of experience as a professional with the firm. He retired as president and chief executive officer of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. and skills applicable to our business, including in the areas of regulation, public accounting and financial reporting, finance, risk management, business development, technology, marketing, operations, strategic planning, management development Payment Services volume was $82.9 billion, up 6% year-over-year. Eric Wasserstrom At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Weinbach most recently was chairman of Great Western Products Holdings, LLC, a manufacturer and master distributor of food and nonfood concession products, since 2009 and a managing director of Yankee Hill Capital Management, LLC, a private equity firm, since 2006. Inclusion, Accept 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. Mr. Moskow serves on the board of directors of Flowstone Private Equity Opportunity Fund and served on the board of Commonwealth Edison Company, a subsidiary of Exelon Corporation, from 2008 to 2021. 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 direct banking business. Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. Prior to that, he was the executive chairman of Unisys Corporation, a worldwide information services and technology company, from 2005 to 2006, and its chairman and chief executive officer from 1997 to 2004. 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. I am confident that he will help Discover continue to succeed as a leading digital bank and payments company and look forward to Johns contributions as a member of our already strong Board.. The Payment Services segment includes PULSE, Diners Club, and the Network Partners business, which provides payment transaction processing and settlement services on the Discover Global Network. Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. 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. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. 12 members +7. Discover Financial Services Names John Owen to its Board of Directors, Contact Credit Card, NHL Investors: He has been the managing partner of Tegean Capital Management, LLC since 2008, and a partner and Chief Investment Officer of Iron Park Capital Management, LLC since 2019, two investment advisory firms based in New York. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. 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. Locator, Credit Nelms is the retired Chairman and Chief Executive Officer of Discover Financial Services, a direct banking and payment services company. Copyright FactSet Research Systems Inc. All rights reserved. From 2001-2015, he held various executive roles across ING. Carlos Minetti has served as executive vice president, president of consumer banking since February 2014. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. The investigation is ongoing and is being conducted by a board-appointed independent special committee. Prior to joining Discover, Dan held various leadership positions in finance at Citi and Bank of America. 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. Agreement, Home He has also served as a member of the Nielsen Holdings Board since 2017. Resources, ATM Agreement, Home Create your Watchlist to save your favorite quotes on Nasdaq.com. These symbols will be available throughout the site during your session. 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. She was executive vice president and chief technology officer from 1998 to 2008. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. 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. Gregory C. Case Director - Compensation and Leadership Development Committee (Chair) Director, Chief Executive Officer and President, Executive Vice President, Chief Financial Officer, Executive Vice President, Chief Information Officer, Executive Vice President, President US Cards, Executive Vice President, Chief Human Resources and Administrative Officer, Executive Vice President, Chief Legal Officer, General Counsel and Secretary, Executive Vice President, President - Consumer Banking, Executive Vice President, President - Payment Services, Executive Vice President, Chief Risk Officer, Executive Vice President, Chief Data and Analytics Officer. Board of Directors Declares Semi-Annual . 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. Dan Capozzi was named executive vice president, president - US Cards in December 2020. Media Contact Non-interest income increased $99 million, or 22%, from the prior year period, mainly driven by higher discount/interchange revenue and loan fee income partially offset by higher rewards cost driven by elevated sales volumes. 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. Jon Drummond Credit Card, Student To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Us, Terms 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. Mr. Rawlinson worked for ITT Exelis (formerly ITT Corp.) from 2009 to 2012, most recently as Vice President, General Counsel and Director of Corporate Responsibility of the Electronic Systems division. You must click the activation link in order to complete your subscription. Credit Card, Cardmember Prior to that, Ms. Wong held the role of chief business officer from 2011 to 2015 at Popsugar, Inc., a media and technology company, where she led business operations and the company's media and commerce businesses. Mike has a bachelor of science degree in accounting from St. Johns University and completed the Tuck Executive Program at Dartmouth College. Public Relations 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. https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). https://www.businesswire.com/news/home/20210223006141/en/, Media Contact Mr. Thierer is a member of the board of directors of Xeris Pharmaceuticals, Inc. and Senior Connect Acquisition Corp. Jennifer L. Wong has been the chief operating officer of Reddit, Inc., a community and discussion platform, since 2018, where she oversees business strategy and growth, and related teams for the company. Prior to that, Owen was senior vice president of Global Systems Development for Citicorp Credit Services, chief information officer of North American operations for Arrow Electronics and senior vice president of technology for American Airlines. He was appointed to oversee consumer banking products in 2006 and led cardmember services from 2001-2006. He served as Executive Chairman from September 2018 to December of 2018. Prior to that, he was chairman and co-chief executive officer of Citi Markets and Banking, the investment banking division of Citigroup, Inc. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. Lower revenue was driven by a $729 million gain on an equity investment in the prior year compared to $42 million net losses on equity investments in the current year quarter. Responsibility, Diversity & Digital Banking pretax income of $1.4 billion for the quarter was $98 million lower than the prior year period reflecting a higher provision for credit losses and higher operating expenses, mostly offset by increased revenue net of interest expense. After submitting your request, you will receive an activation email to the requested email address. of Use, Credit This was partially offset by higher PULSE and Network Partners revenue. Agreement, Home For more information, visit www.discover.com/company. For more information, visit www.discover.com/company. Loans, Cash 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. Resources, ATM Leadership Team. From October 2017 through February 2018, Mr. Thierer also served as the interim chief executive officer of Dentsply Sirona Inc., a manufacturer of dental implants. If you experience any issues with this process, please contact us for further assistance. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. Mr. Hochschild is also on the board of directors of Principal Financial Group. Provision for credit losses of $549 million increased $414 million from the prior year driven by a $110 million reserve build in the current quarter compared to a $321 million reserve release in the prior year quarter, partially offset by lower net charge-offs. The Board of Directors declared a quarterly . Prior to joining Discover, Hope was executive vice president, general counsel, and corporate secretary of Bank of the West and corporate secretary of BNP Paribas USA, Inc. Hope holds a Bachelor of Arts degree from Cornell University, a Juris Doctor from Seton Hall University Law School and a Master of Laws in Taxation from New York University School of Law. 224-405-6304 He has also served as a member of the Nielsen Holdings Board since 2017. Discover Financial Services Declares Quarterly Dividend for Common Stock, Contact 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. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. 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