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. Source: FactSet. 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. Ms. Duncan retired from KPMG LLP, a global network of professional firms providing audit, tax and advisory services, in November 2013 where she had been managing partner of the Washington, D.C. metropolitan area since 2009. Eric Wasserstrom Media Contact By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. The Payment Services segment includes PULSE, Diners Club, and the Network Partners business, which provides payment transaction processing and settlement services on the Discover Global Network. 10 members +7. Credit Card, NHL Investor Contact: Back Credit Card, Travel Discover, Corporate 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. 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. Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. This press release features multimedia. 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. Net interest income for the quarter increased $311 million, or 14% driven by higher average receivables and net interest margin expansion. 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.. Public Relations In her position, she has the primary or secondary responsibility for managing all aspects of . Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You must click the activation link in order to complete your subscription. Callas is situated in the Var department and Provence-Alpes-Cte d'Azur region. Net charge-offs of $429 million were $27 million lower than the prior year period. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Shares of common stock outstanding declined by 2.0% from the prior quarter. 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.. 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. Eric Wasserstrom The credit card net charge-off rate was 2.01%, down 44 basis points from the prior year period and up 17 basis points from the prior quarter. 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). 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. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Us, Terms Amir Arooni joined Discover in March 2020 as executive vice president, chief information officer. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. Morningstar. Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. 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. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. 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. Us, Terms 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. Eric Wasserstrom After submitting your request, you will receive an activation email to the requested email address. 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. Delayed Nyse Equity Loans, Personal 224-405-4555 David L. Rawlinson is the president, chief executive officer and a member of the board of directors for Qurate Retail, Inc. which is comprised of seven leading retail brands and primarily operates e-commerce and digital shopping hubs. Investors: 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 Change value during other periods is calculated as the difference between the last trade and the most recent settle. a Friend, 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. Prior to joining Nielsen Holdings, Rawlinson was president of the Global Online Business at W.W. Grainger Inc. from 2015 to 2020. Exhibit 99.1 . Key People Discover Financial Services Board of Directors Name/Title Current Board Membership expand All Executives Roger C. Hochschild President, Chief Executive Officer & Director Amir S.. Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. Agreement, Home Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. Loans, Student Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. @Discover_News, Investor Relations 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 . Agreement, Home Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Discover Financial Services Names David L. Rawlinson II to Its Board of Directors, https://www.businesswire.com/news/home/20210223006141/en/, Contact 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. Prior to joining Discover, John served as executive vice president, chief financial officer and treasurer at Bioverativ, a global biopharmaceutical company. 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. Eric Wasserstrom, 224-405-4555 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. Credit Card, Student Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. He retired as president and chief executive officer of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. robertweiss@discover.com 81. Larry was an exceptional leader who will be greatly missed, Maheras said. Robert Weiss, 224-405-6304 The new program expires on December 31, 2021, and can be terminated at any time. After submitting your request, you will receive an activation email to the requested email address. If you experience any issues with this process, please contact us for further assistance. Tickets cost 55 - 85 and the journey takes 10h 20m. Jon Drummond 224-405-1888 Copy and paste multiple symbols separated by spaces. 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. You must click the activation link in order to complete your subscription. 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. In 2007, she served on the U.S. Department of the Treasury's Advisory Commission on the Auditing Profession. Discovers Board will now stand at thirteen directors. 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. 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. Resources, ATM 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. 224-405-4555 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. robertweiss@discover.com. For more information, visit www.discover.com/company. Discover Financial Services (NYSE: DFS): Third Quarter 2022 Results 2022 2021 YOY Change Total loans, end of period (in billions) $104.9 $89.5 17% T . 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. Since its inception in 1986, the company has become one of the largest card issuers in the United States. At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. Credit Card, Student Information processing decreased primarily due to software write-offs in the prior year quarter. 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. Robert Weiss Dan Capozzi was named executive vice president, president - US Cards in December 2020. In order to enjoy the full experience of the Discover website, please turn JavaScript on. 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. 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. 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. See terms and conditions for details. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Credit Card, Business I benefitted greatly from Larrys steady guidance and stewardship, and I am grateful for having had the opportunity to work so closely with him.. Thomas G. Maheras was appointed independent chairman in May 2020, following his service as director starting in 2008. For more information, visit www.discover.com/company. Owen was elected to Discovers Board of Directors and appointed to the Boards Risk Oversight Committee on June 6, 2022. Loans, Cash As a member of Discover Global Network, we have the capabilities to suit your needs. Chantal currently serves as Director and Senior Counsel - Litigation at Discover Financial Services. 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. https://www.businesswire.com/news/home/20210223006141/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. Scorecard, Cash Provision for credit losses of $549 million increased $414 million from the prior year driven by a $110 million reserve build in the current quarter compared to a $321 million reserve release in the prior year quarter, partially offset by lower net charge-offs. of Use, Credit a Friend, About The dividend equals $30.625 per depositary share, each representing 1/100th interest in a share of the Series D Preferred Stock. From 2000 to 2009, he was president and chief executive officer of Ovation Pharmaceuticals Inc., a biopharmaceutical company he founded in 2000. 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. 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. Back Credit Card, Travel If you experience any issues with this process, please contact us for further assistance. 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