Hope Mehlman joined Discover in January 2023 and is the chief legal officer, general counsel and secretary. Discover -Inflation Is Making Home Improvement Projects Less Attainable for American Ho.. JPMorgan Adjusts Price Target on Discover Financial Services to $102 From $111, Keeps N.. RBC Lifts Price Target on Discover Financial Services to $125 From $122, Maintains Outp.. U.S. banks are dangling promotions to lock in customer deposits, analysts say. This press release features multimedia. You can sign up for additional alert options at any time. He has also served as a member of the Nielsen Holdings Board since 2017. Since its inception in 1986,. It operates under the Digital Banking and Payment Services segments. After submitting your request, you will receive an activation email to the requested email address. -, 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/. 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. You can sign up for additional alert options at any time. Please Note: JavaScript is not enabled in your web browser. For more information, visit www.discover.com/company. Back Rewards, Refer You must click the activation link in order to complete your subscription. 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. Eric Wasserstrom https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). Prior to that, he was chairman and co-chief executive officer of Citi Markets and Banking, the investment banking division of Citigroup, Inc. Back Credit Card, Travel Investor Contact: Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. He has served on the executive committee since June 2017 and led credit operations and decision management from 2018 to 2020. Marketing increased primarily due to investments in Card acquisition and Consumer Banking. 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. 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. Back Credit Card, Travel Back Rewards, Refer This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Larry was an exceptional leader who will be greatly missed, Maheras said. 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. 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. https://www.businesswire.com/news/home/20210223006141/en/, Media Contact For more information, visit www.discover.com/company. 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. 224-405-1888 Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the companys Board of Directors. Mary K. Bush has served as the chairman of Bush International, LLC, a financial and business strategy advisory firm, since 1991. Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. She was executive vice president and chief technology officer from 1998 to 2008. Maheras, 57, joined the board in 2008. Credit Card, NHL jondrummond@discover.com. 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. Diners Club volume was up 37% year-over-year reflecting an improvement in global travel and entertainment spending. If you experience any issues with this process, please contact us for further assistance. 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. Inclusion, Accept Data may be intentionally delayed pursuant to supplier requirements. of Use, Credit Weinbach most recently was chairman of Great Western Products Holdings, LLC, a manufacturer and master distributor of food and nonfood concession products, since 2009 and a managing director of Yankee Hill Capital Management, LLC, a private equity firm, since 2006. View the full release here: https://www.businesswire.com/news/home/20200504005773/en/. Inclusion, Accept 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. 224-405-4555 Mr. Rawlinson worked for ITT Exelis (formerly ITT Corp.) from 2009 to 2012, most recently as Vice President, General Counsel and Director of Corporate Responsibility of the Electronic Systems division. 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.. 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). robertweiss@discover.com The Board of Directors of Discover Financial Services declared a semi-annual cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, in the amount of $2,750 per share. From 2011 to 2013, he served as executive vice president and chief operating officer of global sales and customer operations at EMC and prior to that he served in a variety of leadership roles at Hewlett Packard and Electronic Data Systems. He holds a Bachelor of Science degree in industrial engineering from Texas A&M University and an RIVERWOODS, IL - January 15, 2016 - Discover Financial Services (NYSE: DFS) announced that Joseph F. Eazor has joined the company's Board of Directors. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Nelms is the retired Chairman and Chief Executive Officer of Discover Financial Services, a direct banking and payment services company. 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. Eric Wasserstrom Andy Eichfeld joined Discover in September 2018 as executive vice president, chief human resources and administrative officer. Carlos worked in card operations and risk management for American Express from 1987 to 2000, most recently as senior vice president. View source version on businesswire.com: Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. RIVERWOODS, Ill.--(BUSINESS WIRE)-- 224-405-1888 The amount and timing of any future dividends and share repurchases are subject to the discretion of the companys board of directors and will depend upon the companys results of operations, financial condition, cash requirements, future prospects, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations) and other factors, and may be subject to regulatory approval or conditions. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. Investors: Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. 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. 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. . The Board of Directors declared a quarterly . By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. investorrelations@discover.com, Media: Keith Toney joined the Executive Committee in November 2020 as executive vice president, chief data and analytics officer. 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. Carlos Minetti has served as executive vice president, president of consumer banking since February 2014. @Discover_News, Investor Relations Payment Services volume was $82.9 billion, up 6% year-over-year. View the full release here: https://www.businesswire.com/news/home/20210223006141/en/ RIVERWOODS, Ill.--(BUSINESS WIRE)-- 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 (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Us, Terms Credit Card, Student 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. Jon Drummond You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Discovers Board will now stand at thirteen directors. Resources, ATM Since its inception in 1986, the company has become one of the largest card issuers in the United States. Total operating expenses were up $94 million year-over year, or 9%, driven by higher expenses for marketing and employee compensation partially offset by lower information processing. Prior to that, he was chairman and co-chief executive officer of Citi Markets and Banking, the investment banking division of Citigroup, Inc. He continues to serve on Clarios board. 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. This press release features multimedia. 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, Student After submitting your request, you will receive an activation email to the requested email address. Interest expense as a percent of total loans decreased 7 basis points from the prior year period, primarily driven by the maturity of high coupon consumer CDs and a favorable shift in the funding mix. 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. Owen was elected to Discovers Board of Directors and appointed to the Boards Risk Oversight Committee on June 6, 2022. He served as independent chairman since January 2019. 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. 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. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. This press release features multimedia. 81. 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. @Discover_News, Investor Relations and succession, compensation, corporate governance, public policy, international matters, banking and financial services. He served as Executive Chairman from September 2018 to December of 2018. Equity Loans, Personal 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. 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. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. 6 % year-over-year reflecting an improvement in global travel and entertainment spending by visiting the unsubscribe section below Board 2008.! 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