224-405-1888 Locator, Credit Since its inception in 1986,. 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. Jon Drummond -, Discover -Inflation Is Making Home Improvement Projects Less Attainable for American Homeowners, Inflation Is Making Home Improvement Projects Less Attainable for American Homeowners, JPMorgan Adjusts Price Target on Discover Financial Services to $102 From $111, Keeps Neutral Rating, https://www.businesswire.com/news/home/20200504005773/en/. Please Note: JavaScript is not enabled in your web browser. @Discover_News, Investor Relations Scorecard, Cash He was chief executive officer of OptumRx, a pharmacy care services company, from 2015 to 2017. It operates under the Digital Banking and Payment Services segments. Loans, Student 224-405-5923 He began his career in information systems with McDonnell-Douglas. 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. investorrelations@discover.com. Jon Drummond 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. Net charge-offs of $429 million were $27 million lower than the prior year period. Us, Terms Prior to joining Discover, will not work, such as the display of rates and APRs. 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 CIO for NN Group in the Netherlands, a spin-off of ING. Discover Financial Services Reports Second Quarter 2022 Net Income of $1.1 Billion or $3.96 Per Diluted Share, SEGMENT- INCOME/(LOSS) BEFORE INCOME TAXES, http://investorrelations.discoverfinancial.com, Contact ericwasserstrom@discover.com, Media Contact: This was partially offset by higher PULSE and Network Partners revenue. 2500 Lake Cook Road Riverwoods Illinois 60015 United States. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. 224-405-6304 Robert Weiss, 224-405-6304 Credit Card, Student Credit Card, Cardmember Mike oversees all aspects of the corporate risk management function. Discover Financial Services : BOARD OF DIRECTORS APPROVES REPURCHASE OF UP TO $4.2 BILLION OF COMMON STOCK AND INCREASES THE QUARTERLY COMMON STOCK DIVIDEND 20% TO $0.60 PER SHARE - Form 8-K. . This press release features multimedia. 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. View source version on businesswire.com: Discover Financial Services Declares Quarterly Dividend for Common Stock, Contact Credit Card, Student For more information, visit www.discover.com/company. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Locator, Credit Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. 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. Eric Wasserstrom He has served on the executive committee since June 2017 and led credit operations and decision management from 2018 to 2020. 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. 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. Prior to that, he was chairman and co-chief executive officer of Citi Markets and Banking, the investment banking division of Citigroup, Inc. Board of Directors. and succession, compensation, corporate governance, public policy, international matters, banking and financial services. jondrummond@discover.com Earlier in her career, Ms. Wong held several executive management roles at AOL and worked with a range of digital media and technology clients at McKinsey & Company. Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. Keith Toney joined the Executive Committee in November 2020 as executive vice president, chief data and analytics officer. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Credit Card, Student News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Nelms joined Discover in 1998 as President and Chief Operating Officer. SNCF also services this route 3 times a day. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. If JavaScript is disabled, some of the functionality on our website Roger was president and chief operating officer of Discover from 2004 to 2018. 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, Corporate 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. She has overseen the PULSE Network since 2006. Shares of common stock outstanding declined by 2.0% from the prior quarter. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. 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. 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. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. The Board of Directors declared a quarterly . You can sign up for additional alert options at any time. 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. Dr. Cynthia A. Glassman was appointed by President Bush as Under Secretary for Economic Affairs at the U.S. Department of Commerce from 2006 to 2009 and as Commissioner of the U.S. Securities and Exchange Commission from 2002 to 2006, including serving as Acting Chair during the summer of 2005. Discover Financial Services (NYSE: DFS): Total revenue net of interest expense (in millions). 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. She holds a Bachelor of Business Administration degree in accounting from Loyola University. For more information, visit www.discover.com/company. Credit card loans ended the quarter at $79.2 billion, up 15% year-over-year. Dan holds a bachelor's degree in business administration from Northeastern University. 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. 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. During the second quarter of 2022, the company repurchased approximately 5.8 million shares of common stock for $601 million. 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. Amidst evolving macroeconomic conditions, credit performance remains particularly strong, as delinquencies are stable and losses are rising modestly, reflecting slower than expected credit normalization. robertweiss@discover.com. If you experience any issues with this process, please contact us for further assistance. From 1993 to 1998, Diane was at MBNA America Bank, most recently as senior executive vice president. Copy and paste multiple symbols separated by spaces. Employee compensation increase was driven by higher headcount and higher average salaries and benefits. View source version on businesswire.com: https://www.businesswire.com/news/home/20220607006303/en/, Media Contact RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the companys Board of Directors. Since its inception in 1986, the company has become one of the largest card issuers in the United States. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Source: Kantar Media, President, Chief Executive Officer & Director. 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. All rights reserved. Mr. Owen has over 38 years of experience in banking, information technology that spans multiple industries including banking, insurance, airlines, and the defense industry. Equity Loans, Personal She was executive vice president and chief technology officer from 1998 to 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.. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. I benefitted greatly from Larrys steady guidance and stewardship, and I am grateful for having had the opportunity to work so closely with him.. 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. Discover Financial Services Names David L. Rawlinson II to Its Board of Directors, https://www.businesswire.com/news/home/20210223006141/en/, Contact Loans, Cash Independent board of directors and a qualified audit committee. Investor Contact: Loans, Cash These symbols will be available throughout the site during your session. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. He has also served as a member of the Nielsen Holdings Board since 2017. Mr. Eazor previously served as the president and chief executive officer of Earthlink, Inc., a leading communications and IT services provider, and was a member of EarthLinks board from January 2014 until February 2017. Responsibility, Diversity & He brings valuable leadership experience and has a clear understanding of the overall governance structure associated with a highly regulated industry such as banking. Prior to that, she served in various roles at the firm, including managing partner for audit for the Midatlantic area and audit partner in charge for the Virginia business unit. Locator, Credit Amir Arooni joined Discover in March 2020 as executive vice president, chief information officer. 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. John Owen (Photo: Business Wire) 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. 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. 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