Thomas G. Maheras was appointed independent chairman in May 2020, following his service as director starting in 2008. Mr. Hochschild is also on the board of directors of Principal Financial Group. . Credit Card, Student He served as Executive Chairman from September 2018 to December of 2018. Please Note: JavaScript is not enabled in your web browser. She served as vice president and head of International Finance of Fannie Mae and as the U.S. Alternate Executive Director of the International Monetary Fund Board. 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. 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. a Friend, About Discover Financial Services (NYSE: DFS) today reported net income of $1.1 billion or $3.96 per diluted share for the second quarter of 2022, as compared to a net income of $1.7 billion or $5.55 per diluted share for the second quarter of 2021. For more information, visit www.discover.com/company. Keith has a bachelor's degree and a master's degree in mathematics from Ohio State University. Source: FactSet. Ms. Duncan is a member of the board of directors of Teleflex Inc. and served on the board of FTD Companies, Inc. from 2014 to 2019. The company is suspending until further notice its existing share repurchase program because of an internal investigation relating to its student loan servicing practices and related compliance matters. 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. In order to enjoy the full experience of the Discover website, please turn JavaScript on. Copyright FactSet Research Systems Inc. All rights reserved. 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. He began his career in information systems with McDonnell-Douglas. Since its inception in 1986, the company has become one of the largest card issuers in the United States. 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. Chicago . Equity Loans, Personal 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. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. Discover, Corporate 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. Credit Card, Cardmember For more information, visit www.discover.com/company. Change value during other periods is calculated as the difference between the last trade and the most recent settle. After submitting your request, you will receive an activation email to the requested email address. 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. This was partially offset by higher PULSE and Network Partners revenue. Amidst evolving macroeconomic conditions, credit performance remains particularly strong, as delinquencies are stable and losses are rising modestly, reflecting slower than expected credit normalization. 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. of Use, Credit 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. Equity Loans, Personal 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. In order to enjoy the full experience of the Discover website, please turn JavaScript on. Carlos worked in card operations and risk management for American Express from 1987 to 2000, most recently as senior vice president. Loans, Cash The 30+ day delinquency rate for credit card loans was 1.76%, up 33 basis points year-over year and down 1 basis point from the prior quarter. Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. 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. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Credit card loans ended the quarter at $79.2 billion, up 15% year-over-year. View the full release here: https://www.businesswire.com/news/home/20210223006141/en/ Our success is built on diverse corporate management and financial industry experience. Resources, ATM Locator, Credit The Board of Directors declared a quarterly . This press release features multimedia. Inclusion, Accept 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. He continues to serve on Clarios board. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. robertweiss@discover.com View the full release here: https://www.businesswire.com/news/home/20210223006141/en/, David L. Rawlinson II (Photo: Business Wire). 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. The Board of Directors of Discover Financial Services declared a quarterly cash dividend of $0.50 per share of common stock payable on December 9, 2021, to holders of record at the close of business on November 24, 2021. Eric Wasserstrom Maheras, 57, joined the board in 2008. Credit Card, Student 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): Second Quarter 2022 Results 2022 2021 YOY Change Total loans, end of period (in billions) $99.3 $87.7 13% T . Responsibility, Diversity & 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. 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. Credit Card, Cardmember Since its inception in 1986, the company has become one of the largest card issuers in the United States. Board of Directors Declares Semi-Annual . investorrelations@discover.com, Media: Prior to that, he served as a White House Fellow and held appointed positions in both the George W. Bush and Obama Administrations. Board of Directors Declares Semi-Annual Dividend for Preferred Stock and Quarterly Dividend for Common Stock. 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. Information processing decreased primarily due to software write-offs in the prior year quarter. 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. 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. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. Credit Card, NHL 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. -, 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/. 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. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. 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.. He is also a member of Aon's board of directors. After submitting your request, you will receive an activation email to the requested email address. of Use, Credit When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Net charge-offs of $429 million were $27 million lower than the prior year period. 224-405-1888 Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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, Since its inception in 1986, the company has become one of the largest card issuers in the United States. Independent board of directors and a qualified audit committee. All rights reserved. You must click the activation link in order to complete your subscription. He was chief executive officer of OptumRx, a pharmacy care services company, from 2015 to 2017. investorrelations@discover.com. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. 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. It operates under the Digital Banking and Payment Services segments. International stock quotes are delayed as per exchange requirements. 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.. Employee compensation increase was driven by higher headcount and higher average salaries and benefits. Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. 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 . When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Ms. Wong is a member of the board of directors of Group Nine Acquisition Corp. Please Note: JavaScript is not enabled in your web browser. Inclusion, Accept @Discover_News, Investor Relations jondrummond@discover.com ericwasserstrom@discover.com, Internet Explorer presents a security risk. About Discover . You must click the activation link in order to complete your subscription. 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. 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. Popular places to visit nearby include Draguignan at 8 km and Seillans at 10 km. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Dan Capozzi was named executive vice president, president - US Cards in December 2020. He served as independent chairman since January 2019. 2023, Nasdaq, Inc. All Rights Reserved. Tickets cost 55 - 85 and the journey takes 10h 20m. Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the companys Board of Directors. NOTE: Each bank's board of directors and senior management are responsible for establishing and maintaining an effective system of internal control, including controls over the Reports of Condition and Income. 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. . A financial summary follows. 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. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. Media Contact 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 (. Us, Terms Payment Services volume was $82.9 billion, up 6% year-over-year. Back Rewards, Refer Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. 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. Total loans ended the quarter at $99.3 billion, up 13% year-over-year, and up 6% sequentially. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. You can sign up for additional alert options at any time. For more information, visit www.discover.com/company. He retired as president and chief executive officer of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. Andy Eichfeld joined Discover in September 2018 as executive vice president, chief human resources and administrative officer. 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. 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. 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. Roger was president and chief operating officer of Discover from 2004 to 2018. Type a symbol or company name. 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