M.B.A. from the University of Chicago. Fundamental company data and analyst estimates provided by FactSet. The following factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the effect of the coronavirus disease 2019 pandemic and measures taken to mitigate the pandemic, including their impact on our credit quality and business operations as well as their impact on general economic and financial markets; changes in economic variables, such as the availability of consumer credit, the housing market, energy costs, the number and size of personal bankruptcy filings, the rate of unemployment, the levels of consumer confidence and consumer debt, and investor sentiment; the impact of current, pending and future legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to accounting guidance, tax reform, financial regulatory reform, consumer financial services practices, anti-corruption and funding, capital and liquidity; the actions and initiatives of current and potential competitors; the company's ability to manage its expenses; the company's ability to successfully achieve card acceptance across its networks and maintain relationships with network participants and merchants; the company's ability to sustain its card, private student loan and personal loan growth; the companys ability to increase or sustain Discover card usage or attract new customers; difficulty obtaining regulatory approval for, financing, closing, transitioning, integrating or managing the expenses of acquisitions of or investments in new businesses, products or technologies; the company's ability to manage its credit risk, market risk, liquidity risk, operational risk, compliance and legal risk, and strategic risk; the availability and cost of funding and capital; access to deposit, securitization, equity, debt and credit markets; the impact of rating agency actions; the level and volatility of equity prices, commodity prices and interest rates, currency values, investments, other market fluctuations and other market indices; losses in the company's investment portfolio; limits on the company's ability to pay dividends and repurchase its common stock; limits on the company's ability to receive payments from its subsidiaries; fraudulent activities or material security breaches of its or others key systems; the company's ability to remain organizationally effective; the effect of political, economic and market conditions, geopolitical events, climate change and unforeseen or catastrophic events; the company's ability to introduce new products or services; the company's ability to manage its relationships with third-party vendors, as well as those which we have no direct relationship such as our employees internet service providers; the company's ability to maintain current technology and integrate new and acquired systems and technology; the company's ability to collect amounts for disputed transactions from merchants and merchant acquirers; the company's ability to attract and retain employees; the company's ability to protect its reputation and its intellectual property; the companys ability to comply with regulatory requirements; and new lawsuits, investigations or similar matters or unanticipated developments related to current matters. Discover, Corporate Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the companys Board of Directors. . All rights reserved. RIVERWOODS, Ill.--(BUSINESS WIRE)-- 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. He is also a member of Aon's board of directors. 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. Credit Card, Student Inclusion, Accept Marketing increased primarily due to investments in Card acquisition and Consumer Banking. 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. 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. View the full release here: https://www.businesswire.com/news/home/20210223006141/en/ Credit Card, Business Airlines. He retired as president and chief executive officer of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. 10 members. Back Rewards, Refer 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. 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. 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. of Use, Credit 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. 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. Roger was president and chief operating officer of Discover from 2004 to 2018. Ms. Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. 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. Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. 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. Scorecard, Cash Since its inception in 1986, the company has become one of the largest card issuers in the United States. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. For more information, visit www.discover.com/company. View source version on businesswire.com: https://www.businesswire.com/news/home/20220607006303/en/, Media Contact 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. a Friend, About 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. Board of Directors. Locator, Credit 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). Since its inception in 1986, the company has become one of the largest card issuers in the United States. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. . . 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. Investor Relations 224-405-1888 Agreement, Home Type a symbol or company name. Credit Card, Student 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. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. Jeffrey S. Aronin has been chairman and chief executive officer of Paragon Pharmaceutical Capital, LLC since 2010. ericwasserstrom@discover.com, Media Contact: Discover Financial Services is a holding company. Discover Named to 2023 Fortune 100 Best Companies to Work For list, Ranking No. Prior to that, he served as a White House Fellow and held appointed positions in both the George W. Bush and Obama Administrations. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Discover. 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. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Carlos Minetti has served as executive vice president, president of consumer banking since February 2014. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20200504005773/en/. Please Note: JavaScript is not enabled in your web browser. 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. Independent board of directors and a qualified audit 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. Us, Terms Diane E. Offereins was named executive vice president, payment services in 2008 with responsibility for Discover Network, PULSE and Diners Club International. He holds a Bachelor of Science degree in industrial engineering from Texas A&M University and an To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Responsibility, Diversity & Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. Shares of common stock outstanding declined by 2.0% from the prior quarter. Discover Financial Services (NYSE: DFS) announced today that its Board of Directors has approved a new $1.1 billion share repurchase program, having suspended share repurchases since March 2020 in response to the economic recession. Source: FactSet. robertweiss@discover.com Actual results may differ materially from those set forth in the forward-looking statements. Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Us, Terms 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. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. She holds a Bachelor of Business Administration degree in accounting from Loyola University. 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. 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. In 2009, Ovation Pharmaceuticals was acquired by Lundbeck, Inc. Mr. Aronin served as president and chief executive officer of Lundbeck, Inc. during its acquisition and integration of Ovation Pharmaceuticals. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial . His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. Payment Services volume was $82.9 billion, up 6% year-over-year. Public Relations If you experience any issues with this process, please contact us for further assistance. You must click the activation link in order to complete your subscription. Discover Financial Services Names John Owen to its Board of Directors, Contact Media Contact You can sign up for additional alert options at any time. Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. Credit Card, Business Credit Card, Cardmember 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. Discover Financial Services (NYSE: DFS) is a direct banking . Mike has a bachelor of science degree in accounting from St. Johns University and completed the Tuck Executive Program at Dartmouth College. 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 . 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. You can sign up for additional alert options at any time. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Complete your subscription, Home Type a symbol or company name by FactSet 's board directors! The Federal Reserve Bank of Chicago in 2007, where he had served since.. For investor email alerts, please enter your email address in the below! 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