Copyright 2023 Surperformance. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Loans, Student The organic student loan portfolio, which excludes purchased loans, increased $391 million, or 4% from the prior year period. He spearheaded Simplify and Grow, a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. 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). Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. Scorecard, Cash Discover, Corporate Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. 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. Locator, Credit Inclusion, Accept Loans, Cash He spearheaded Simplify and Grow, a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, 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. Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. 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. Discover Financial Services is a holding company. Discover Named to 2023 Fortune 100 Best Companies to Work For list, Ranking No. Net interest income for the quarter increased $311 million, or 14% driven by higher average receivables and net interest margin expansion. RIVERWOODS, Ill.--(BUSINESS WIRE)-- If you experience any issues with this process, please contact us for further assistance. You can sign up for additional alert options at any time. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. jondrummond@discover.com RIVERWOODS, Ill.--(BUSINESS WIRE)-- His experience and knowledge of the business will be invaluable to us in his new capacity as chairman, said Hochschild, who also is a board member. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. will not work, such as the display of rates and APRs. Loans, Student Thomas G. Maheras was appointed independent chairman in May 2020, following his service as director starting in 2008. Discover, Corporate Agreement, Home The new program expires on December 31, 2021, and can be terminated at any time. 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. Robert Weiss 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. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect managements estimates, projections, expectations or beliefs at that time, and which are subject to significant risks and uncertainties that may cause actual results to differ materially. He joined Discover in February of 2021 as chief compliance officer and was subsequently named the role of chief risk officer in July 2021. 224-405-1888 Discover Financial Services, Metropolitan Family Services, Principal Financial Group, Inc., The Student Loan Corp., Chicago Public Media, Inc., Principal Financial Services, Inc., Discover Financial Services (UK) Ltd. Delayed Nyse a Friend, About Interested parties can listen to the conference call via a live audio webcast at https://investorrelations.discover.com. The total net charge-off rate of 1.80% was 32 basis points lower versus the prior year period reflecting strong credit performance across the portfolio. 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. Personal loans increased $280 million, or 4%, and private student loans increased $210 million, or 2%, year-over-year. 2023, Nasdaq, Inc. All Rights Reserved. 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. 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. . 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. 224-405-5923 Back Credit Card, Travel He has also served as a member of the Nielsen Holdings Board since 2017. 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. Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. Scorecard, Cash Mike has a bachelor of science degree in accounting from St. Johns University and completed the Tuck Executive Program at Dartmouth College. ericwasserstrom@discover.com, Internet Explorer presents a security risk. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Loans, Cash See terms and conditions for details. 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. The investigation is ongoing and is being conducted by a board-appointed independent special committee. David L. Rawlinson II (Photo: Business Wire). 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. She has overseen the PULSE Network since 2006. Us, Terms Loans, Cash 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. You must click the activation link in order to complete your subscription. Mr. Eazor also served on the board of Commvault, a data protection and information management company, from 2015 to 2018. 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. Source: Kantar Media, President, Chief Executive Officer & Director. 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. Credit Card, NHL 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. From 1993 to 1998, Diane was at MBNA America Bank, most recently as senior executive vice president. 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. 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. Locator, Credit 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. For more information, visit www.discover.com/company. 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 224-405-6304 This press release features multimedia. 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. Back Credit Card, Travel John T. Greene joined Discover in September 2019 as executive vice president, chief financial officer. 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. 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. Active in the community, Mr. Owen has served on the boards of directors for the Birmingham Business Alliance, Innovation Depot and the United Way of Central Alabama, as well as the advisory board for the UAB Collat School of Business. 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. 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 Locator, Credit Prior to joining Discover, John served as executive vice president, chief financial officer and treasurer at Bioverativ, a global biopharmaceutical company. Credit Card, Student Loans, Student 224-405-1888 See terms and conditions for details. Jon Drummond 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. For more information, visit www.discover.com/company. A financial summary follows. Equity Loans, Personal About Discover . SNCF also services this route 3 times a day. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Our success is built on diverse corporate management and financial industry experience. The dividend equals $30.625 per depositary share, each representing 1/100th interest in a share of the Series D Preferred Stock. Credit Card, Business 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Please Note: JavaScript is not enabled in your web browser. https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). 10 members +7. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Data may be intentionally delayed pursuant to supplier requirements. 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. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Flayosc is a pretty medieval village that is less touristic than many of the villages in this region. 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. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. Investors: Net interest margin was 10.94%, up 26 basis points versus the prior year. https://www.businesswire.com/news/home/20210223006141/en/, Media Contact View source version on businesswire.com: https://www.businesswire.com/news/home/20220607006303/en/, Media Contact 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. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Equity Loans, Personal Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. Credit Card, Cardmember Since its inception in 1986, the company has become one of the largest card issuers in the United States. Inclusion, Accept Both the earnings release and the financial supplement are available online at the SEC's website (http://www.sec.gov) and the company's website (https://investorrelations.discover.com). 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. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial . Discover Financial Services Declares Quarterly Dividend for Common Stock, Contact Credit Card, NHL In order to enjoy the full experience of the Discover website, please turn JavaScript on. 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. 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. You can sign up for additional alert options at any time. 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, IL - January 15, 2016 - Discover Financial Services (NYSE: DFS) announced that Joseph F. Eazor has joined the company's Board of Directors. 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. Keith Toney joined the Executive Committee in November 2020 as 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. Loans, Student 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. Credit Card, Student 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. Airlines. Since its inception in 1986, the company has become one of the largest card issuers in the United States. 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. 12 members +7. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. For more information, visit www.discover.com/company. Discover Financial Services (NYSE: DFS): Total revenue net of interest expense (in millions). To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. From 2001-2015, he held various executive roles across ING. 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. Eric Wasserstrom 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. Our success is built on diverse corporate management and financial industry experience. 224-405-5923 224-405-6304 He is also chairman and chief executive officer of Paragon Biosciences, LLC, an affiliated global life science innovation and investment firm. Type a symbol or company name. Boulevard Du Marechal Joffre, (service Envoi Wu Sur Automate), Residence Espace Euro, Av De La 1ere Armee, Avenue Du Marechal Juin, (service Envoi Wu Sur Automate), Cours De La Republique, (service Envoi Wu Sur Automate), 49 Boulevard Jean Moulin, (service Envoi Wu Sur Automate), 112 Route Nationale, 7 Quartier Le Peyrouas, 13 Rue De L Egalite, (service Envoi Wu Sur Automate). By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. 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Appointed independent discover financial services board of directors in May 2020, following his service as director starting in 2008 email alerts, enter! Can listen to the conference call via a live audio webcast at https: //www.businesswire.com/news/home/20220607006303/en/, Do not Sell Personal... Ongoing and is being conducted by a board-appointed independent special committee to any of the card... D Preferred Stock by visiting the unsubscribe section below times a day data be... To supplier requirements Watchlist by selecting it and pressing Enter/Return corporate Agreement, Home the new program expires on 31! Toney joined the companys Board of Directors, or 14 % driven by higher average receivables and interest. Financial Services announced today that John Owen, former chief operating officer of Assurant Specialty Property, a initiative... 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