He is also chairman and chief executive officer of Paragon Biosciences, LLC, an affiliated global life science innovation and investment firm. 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. investorrelations@discover.com. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. 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. . Amidst evolving macroeconomic conditions, credit performance remains particularly strong, as delinquencies are stable and losses are rising modestly, reflecting slower than expected credit normalization. Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. 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 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. 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. Prior to joining Aon, Mr. Case was with McKinsey & Company, an international management consulting firm, for 17 years, most recently serving as head of the Financial Services Practice. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. He served as Executive Chairman from September 2018 to December of 2018. 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. Prior to joining Discover he served as CIO for NN Group in the Netherlands, a spin-off of ING. He joined Discover in December 2019 and has more than 20 years of information technology experience in financial services and analytics at organizations such as LexisNexis, Ernst & Young, LLP, Connexion Point, LLC, and Hartford Financial Services. 224-405-1888 @Discover_News, Investor Relations -, 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/. Agreement, Home Eric Wasserstrom, 224-405-4555 Mr. Eazor was executive vice president and chief customer officer of computer software company Oracle Corporation, from July 2019 to January 2020, and chief executive officer of Rackspace, a leading managed cloud company, from 2017 to 2019. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Equity Loans, Personal Public Relations The Carnegie Hall Corp., Discover Financial Services, Chief Human Resources & Administrative Officer, Total Insider Purchases and Sales Reported to the SEC, Vanguard Institutional Total Stock Market Index Trust, Vanguard US Total Market Shares Index ETF, American Funds Capital World Growth & Income Fund, Capital Research & Management Co. (World Investors), Capital Research & Management Co. (International Investors), Macquarie Investment Management Business Trust. Responsibility, Diversity & Amir holds a Master of Science degree in Positive Leadership and Strategy from IE University in Madrid, Spain; a Master of Science degree in Consulting and Coaching for Change from HEC School of Management, Paris and Oxford University, England; and an MBA from Erasmus University Rotterdam, the Netherlands and the University of North Carolina, Chapel Hill. Carlos worked in card operations and risk management for American Express from 1987 to 2000, most recently as senior vice president. 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. 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 . 224-405-6304 Morningstar. Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. 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. 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. Discover Named to 2023 Fortune 100 Best Companies to Work For list, Ranking No. He has been the managing partner of Tegean Capital Management, LLC since 2008, and a partner of Iron Park Capital Management, LLC since 2019, two investment advisory firms based in New York. Mr. Rawlinson served on the board of MonotaRO Co., Ltd. from 2014 to 2019 and the board of Nielsen Holdings plc from 2017 to 2021. Credit Card, NHL 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. and succession, compensation, corporate governance, public policy, international matters, banking and financial services. . Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Under his leadership at Regions, the bank consistently evolved how it served its customers, such as unveiling an overhauled and upgraded mobile app for both iOS and Android devices. 224-405-1888 You can sign up for additional alert options at any time. Agreement, Home Credit Card, Student Inclusion, Accept 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. Since its inception in 1986, the company has become one of the largest card issuers in the United States. After submitting your request, you will receive an activation email to the requested email address. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Tickets cost 110 - 150 and the journey takes 3h 19m. 10 members +7. Mike oversees all aspects of the corporate risk management function. 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. 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 began his career in information systems with McDonnell-Douglas. Media Contact He spearheaded Simplify and Grow, a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. Prior to his work at Grainger, Rawlinson held executive roles with ITT Exelis, formerly ITT Corp. Rawlinson holds a bachelors degree in political science from The Citadel, a law degree from the University of South Carolina and an MBA from Harvard Business School. Credit Card, NHL Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the companys Board of Directors. Loans, Cash Chantal currently serves as Director and Senior Counsel - Litigation at Discover Financial Services. Robert Weiss For more information, visit www.discover.com/company. All rights reserved. See terms and conditions for details. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Board of Directors Declares Semi-Annual . Copyright 2023 Surperformance. The Board of Directors declared a quarterly . The company was founded in 1960 and is headquartered in Riverwoods, IL. Diane E. Offereins was named executive vice president, payment services in 2008 with responsibility for Discover Network, PULSE and Diners Club International. You must click the activation link in order to complete your subscription. 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. Back Rewards, Refer You must click the activation link in order to complete your subscription. In order to enjoy the full experience of the Discover website, please turn JavaScript on. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Jon Drummond To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. The Board of Directors of Discover Financial Services declared a semi-annual cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series D, in the amount of $3,062.50 per share. Discover, Corporate To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Type a symbol or company name. 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. 224-405-5923 In order to enjoy the full experience of the Discover website, please turn JavaScript on. Credit Card, Cardmember The dividend equals $27.50 per depositary share, each representing 1/100th interest in a share of the Series C Preferred Stock. Locator, Credit Create your Watchlist to save your favorite quotes on Nasdaq.com. Robert Weiss, 224-405-6304 Since its inception in 1986, the company has become one of the largest card issuers in the United States. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. First, we see that ten out of the eleven board members of DFS are independent and the only non . From 2001-2015, he held various executive roles across ING. In 2007, she served on the U.S. Department of the Treasury's Advisory Commission on the Auditing Profession. Roger was president and chief operating officer of Discover from 2004 to 2018. 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. 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. Currently, he is the chairman of several of Paragons portfolio companies, including Harmony Biosciences Holdings, Inc. From 2010 to 2017, Mr. Aronin was also chairman and chief executive officer of Marathon Pharmaceuticals, a research-based prescription biopharmaceutical company. . 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. Owen was elected to Discovers Board of Directors and appointed to the Boards Risk Oversight Committee on June 6, 2022. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. After submitting your request, you will receive an activation email to the requested email address. 10 members. Loans, Student France This Way review: if you follow the Chemin de la Colle, on the hill about . 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. Take a look at the graphic below. He was appointed to oversee consumer banking products in 2006 and led cardmember services from 2001-2006. Ms. Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. Jon Drummond Mr. Eazor is currently chief executive officer, president and member of the board of directors at EarthLink, Inc., a leading IT services, network . 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). 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. 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. of Use, Credit All rights reserved. Network Partners volume increased 22% from the prior year primarily reflecting higher AribaPay volume. a Friend, About 2023, Nasdaq, Inc. All Rights Reserved. If JavaScript is disabled, some of the functionality on our website Personal loans increased $280 million, or 4%, and private student loans increased $210 million, or 2%, year-over-year. 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. If you experience any issues with this process, please contact us for further assistance. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. 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. 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.. Popular places to visit nearby include Draguignan at 8 km and Seillans at 10 km. of Use, Credit 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. Nelms is the retired Chairman and Chief Executive Officer of Discover Financial Services, a direct banking and payment services company. Credit Card, Cardmember Discovers Board will now stand at thirteen directors. 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. Shares of common stock outstanding declined by 2.0% from the prior quarter. 224-405-1888 Since its inception in 1986, the company has become one of the largest card issuers in the United States. 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. 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. Discover Financial Services Names John Owen to its Board of Directors, Contact The entire Discover community joins me in extending its deepest sympathies to Larrys family as the company mourns the untimely passing of our colleague, leader and friend, said Roger Hochschild, CEO and president of Discover. If you experience any issues with this process, please contact us for further assistance. Loans, Cash The health of our customers and the strength of our integrated digital banking and payments model gives us confidence that we remain well positioned to generate substantial shareholder value through a range of economic environments.. He holds a Bachelor of Science degree in industrial engineering from Texas A&M University and an 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. Prior to his work at Grainger, Rawlinson held executive roles with ITT Exelis, formerly ITT Corp. Rawlinson holds a bachelors degree in political science from The Citadel, a law degree from the University of South Carolina and an MBA from Harvard Business School. Credit Card, Student 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.. Inclusion, Accept Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Investor Contact: After submitting your request, you will receive an activation email to the requested email address. Interested parties can listen to the conference call via a live audio webcast at https://investorrelations.discover.com. Agreement, Home Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. From 2014 to 2016, he was chief financial officer for Willis Group Holdings, which was preceded by more than eight years at HSBC Holdings where he held CFO positions for several divisions, including retail bank and wealth management; insurance and consumer and mortgage lending. He is also a member of Aon's board of directors. Callas is situated in the Var department and Provence-Alpes-Cte d'Azur region. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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). He retired as president and chief executive officer of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. During the second quarter of 2022, the company repurchased approximately 5.8 million shares of common stock for $601 million. 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. will not work, such as the display of rates and APRs. After submitting your request, you will receive an activation email to the requested email address. Ms. Wong is a member of the board of directors of Group Nine Acquisition Corp. Executive officer of the largest card issuers in the Var Department and Provence-Alpes-Cte d & # x27 Azur... To complete your subscription by providing your email address in the United States least one Alert.... To December of 2018 become one of the largest card issuers in the United States % from the quarter. She served on the board of MonotaRO Co. Ltd., a spin-off ING. La Colle, on the hill about callas is situated in the Netherlands a... 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