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.. Roger was president and chief operating officer of Discover from 2004 to 2018. He was appointed to oversee consumer banking products in 2006 and led cardmember services from 2001-2006. Dan Capozzi was named executive vice president, president - US Cards in December 2020. Since its inception in 1986, the company has become one of the largest card issuers in the United States. It operates the Discover Global Network comprised of Discover Network, with millions of merchants 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. Back Rewards, Refer Dan holds a bachelor's degree in business administration from Northeastern University. Such statements, which speak to our expected business and financial performance, among other matters, contain words such as believe, expect, anticipate, intend, plan, aim, will, may, should, could, would, likely, and similar expressions. Since its inception in 1986, the company has become one of the largest card issuers in the United States. 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. Discover Financial Services Names John Owen to its Board of Directors, Contact 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. 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. Loans, Student Data are provided 'as is' for informational purposes only and are not intended for trading purposes. He also held various CFO roles in his 12-year tenure with General Electric from 1993 to 2005. Equity Loans, Personal Eric Wasserstrom, 224-405-4555 Gregory C. Case has been chief executive officer of Aon plc, a leading global professional services firm providing advice and solutions in risk, retirement and health, since 2005 and was president from 2005 to 2018. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial . 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. He spearheaded Simplify and Grow, a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. From 2000 to 2009, he was president and chief executive officer of Ovation Pharmaceuticals Inc., a biopharmaceutical company he founded in 2000. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. The credit card net charge-off rate was 2.01%, down 44 basis points from the prior year period and up 17 basis points from the prior quarter. Credit card loans ended the quarter at $79.2 billion, up 15% year-over-year. The company was founded in 1960 and is headquartered in Riverwoods, IL. 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. 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. 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. 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. investorrelations@discover.com. Public Relations See terms and conditions for details. Ms. Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. For more information, visit www.discover.com/company. The company will host a conference call to discuss its second quarter results on Thursday, July 21, 2022, at 7:00 a.m. Central Time. The Board of Directors declared a quarterly cash dividend of $0.60 per share of common stock payable on September 8, 2022, to holders of record at the close of business on August 25, 2022. 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. Us, Terms 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. John Owen retired from Regions Financial Corp., one of the nations largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services, in March 2021, where he had been Chief Operating Officer since 2018. Mr. Moskow was a Deputy U.S. Trade Representative, following his appointment by President Bush in 1991, and earlier in his career, he held a number of senior positions with the U.S. government, including undersecretary of labor at the U.S. Department of Labor, director of the Council on Wage and Price Stability and senior staff economist with the Council of Economic Advisers. 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. It operates under the Digital Banking and Payment Services segments. He served as Executive Chairman from September 2018 to December of 2018. The student loan net charge-off rate was 1.08%, up 55 basis points from the prior year and up 39 basis points from the prior quarter. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Discover Financial Services Names John Owen to its Board of Directors RIVERWOODS, Ill.-- (BUSINESS WIRE)-- Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the company's Board of Directors. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. Locator, Credit Responsibility, Diversity & Resources, ATM Additional factors impacting dividends and share repurchases can be found in "Business - Supervision and Regulation", Risk Factors 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, 2020, and Risk Factors in the companys quarterly report on Form 10-Q for the quarter ended June 30, 2021, which are filed with the SEC and available at the SEC's website (www.sec.gov). Media Contact From 2001-2015, he held various executive roles across ING. 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. https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). Credit Card, NHL 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. Network Partners volume increased 22% from the prior year primarily reflecting higher AribaPay volume. If you experience any issues with this process, please contact us for further assistance. 224-405-5923 Eric Wasserstrom jondrummond@discover.com See terms and conditions for details. SNCF also services this route 3 times a day. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. Please Note: JavaScript is not enabled in your web browser. Scorecard, Cash Below you can see some of the places that we have visited and reviewed and can recommend when you are sightseeing close to Callas in Provence-Alpes-Cte d'Azur. Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. For more information, visit www.discover.com/company. She has overseen the PULSE Network since 2006. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. Net interest margin was 10.94%, up 26 basis points versus the prior year. 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. 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. Equity Loans, Personal Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. Back Rewards, Refer 81. Source: Kantar Media, President, Chief Executive Officer & Director. robertweiss@discover.com Independent Chairman -Risk Oversight Committee, Director - Compensation and Leadership Development Committee, Director - Nominating, Governance and Public Responsibility Committee (Chair), Risk Oversight Committee, Director - Compensation and Leadership Development Committee (Chair), Director - Audit Committee, Nominating, Governance and Public Responsibility Committee, Director - Risk Oversight Committee (Chair), Director - Compensation and Leadership Development Committee, Nominating, Governance and Public Responsibility Committee. 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. For more information, visit www.discover.com/company. Personal loans net charge-off rate of 1.21% was down 59 basis points from the prior year and up 9 basis points from the prior quarter. Credit Card, Student Since its inception in 1986, the company has become one of the largest card issuers in the United States. Scorecard, Cash Locator, Credit Eric Wasserstrom 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. It operates the Discover Global Network comprised of Discover Network, with millions of merchants 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. Previously, Mr. Rawlinson was the Chief Executive Officer of NielsenIQ (formerly Nielsen Global Connect), a global data and measurement company, from February 2020 to March 2021. Prior to joining Discover he served as CIO for NN Group in the Netherlands, a spin-off of ING. Financial, statistical, and business related information, as well as information regarding business and segment trends, is included in the financial supplement filed as Exhibit 99.2 to the company's Current Report on Form 8-K filed today with the Securities and Exchange Commission (SEC). Michael H. Moskow is currently Vice Chair and Distinguished Fellow, Global Economy at The Chicago Council on Global Affairs. Amir Arooni joined Discover in March 2020 as executive vice president, chief information officer. Us, Terms The company routinely evaluates and may pursue acquisitions of or investments in businesses, products, technologies, loan portfolios or deposits, which may involve payment in cash or the company's debt or equity securities. Mr. Thierer previously served as chairman and chief executive officer of Catamaran Corporation, one of the nation's largest pharmacy benefit management companies, from March 2011 until it combined with OptumRx in 2015. Credit Card, NHL These symbols will be available throughout the site during your session. . Cryptocurrencies: Cryptocurrency quotes are updated in real-time. John holds a bachelors degree in accounting from the State University of New York and a masters degree in Business Administration from the Kellogg School of Management at Northwestern University. 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. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Discover, Unrealized Gains/(Losses) on Equity Investments, Realized Gains/(Losses) on Equity Investments, Net Income/(Loss) Allocated to Common Stockholders, Total Liabilities and Stockholders' Equity, Note: See Glossary for definitions of financial terms in the financial supplement which is available online at the SEC's website (. Total operating expenses were up $94 million year-over year, or 9%, driven by higher expenses for marketing and employee compensation partially offset by lower information processing. Wong was elected to the Board on July 18 and serves on the Risk Oversight Committee of Discover's Board of Directors. 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.. Prior to joining Discover, Dan held various leadership positions in finance at Citi and Bank of America. John T. Greene joined Discover in September 2019 as executive vice president, chief financial officer. Board of Directors Declares Semi-Annual . Robert Weiss This was partially offset by higher PULSE and Network Partners revenue. From 2011 to 2013, he served as executive vice president and chief operating officer of global sales and customer operations at EMC and prior to that he served in a variety of leadership roles at Hewlett Packard and Electronic Data Systems. These forward-looking statements speak only as of the date of this press release, and there is no undertaking to update or revise them as more information becomes available. 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. 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. Discover similar companies. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Delayed Nyse 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. 224-405-1888 Take a look at the graphic below. Now, Diners Club International Ltd. is a direct banking and payment services company owned by Discover Financial Services (NYSE: DFS), one of the most recognized brands in US financial services. 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. Type a symbol or company name. This press release features multimedia. Since its inception in 1986,. RIVERWOODS, Ill.--(BUSINESS WIRE)-- @Discover_News, Investor Relations You can sign up for additional alert options at any time. Employee compensation increase was driven by higher headcount and higher average salaries and benefits. View the full release here: https://www.businesswire.com/news/home/20220607006303/en/, 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. Scorecard, Cash 224-405-6304 a Friend, About Discover, Corporate David adds another expert perspective to the deep experience of our current Board with his track record of success in digital commerce, said Roger Hochschild, CEO and president of Discover. 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. 224-405-6304 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. You must click the activation link in order to complete your subscription. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. For more information, visit www.discover.com/company. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. 224-405-5923 Source: FactSet. Roger C. Hochschild was named chief executive officer and president, effective October 2018, and was elected to the Discover board of directors in August 2018. You must click the activation link in order to complete your subscription. 2500 Lake Cook Road Riverwoods Illinois 60015 United States. In order to enjoy the full experience of the Discover website, please turn JavaScript on. Owen was elected to Discovers Board of Directors and appointed to the Boards Risk Oversight Committee on June 6, 2022. RIVERWOODS, Ill.--(BUSINESS WIRE)-- This press release features multimedia. She previously served as Time, Inc.s president of digital and then its chief operating officer from 2016 to 2018, where she led growth strategy and digital business transformation. Responsibility, Diversity & Prior to assuming this role, he served as president and chief executive officer of Conifer Health Solutions, a healthcare business solutions organization, from January August 2020. 224-405-4555 Credit Card, Cardmember @Discover_News, Investor Relations At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Weinbach, who was 80, joined Discover as an original board member when the company went public in 2007 and was lead director on Discovers board from 2009 to 2018. Payment Services pretax income of $20 million was down $672 million year-over-year. 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. Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. Credit Card, Business Discover Financial Services (NYSE: DFS): Total revenue net of interest expense (in millions). will not work, such as the display of rates and APRs. Ms. Wong is a member of the board of directors of Group Nine Acquisition Corp. 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. Carlos worked in card operations and risk management for American Express from 1987 to 2000, most recently as senior vice president. View the full release here: https://www.businesswire.com/news/home/20210223006141/en/, David L. Rawlinson II (Photo: Business Wire). Joseph F. Eazor retired in July 2022 as the president and chief executive officer of Clario (formerly ERT and Bioclinical), a global data and technology company for clinical trials, where he served since October 2020. Discover -Inflation Is Making Home Improvement Projects Less Attainable for American Ho.. JPMorgan Adjusts Price Target on Discover Financial Services to $102 From $111, Keeps N.. RBC Lifts Price Target on Discover Financial Services to $125 From $122, Maintains Outp.. U.S. banks are dangling promotions to lock in customer deposits, analysts say. Andy holds a bachelors degree in government from Oberlin College, as well as a master's degree in Middle Eastern studies and an MBA in marketing, both from the University of Chicago. The dividend will be payable on September 23, 2022, to the holders of record at the close of business on September 8, 2022. For more information, visit www.discover.com/company. France This Way review: if you follow the Chemin de la Colle, on the hill about . Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. Toms replacement of Larry under these unfortunate circumstances will provide continuity for Discover. Robert Weiss Change value during other periods is calculated as the difference between the last trade and the most recent settle. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Eric Wasserstrom Total loans ended the quarter at $99.3 billion, up 13% year-over-year, and up 6% sequentially. The Board of Directors declared a quarterly . 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