What Does Discover Financial Services Do?

Total employees20300
HeadquartersRiverwoods
Founded1986

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. 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. It operates the Discover Global Network, which includes 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 in countries and territories around the world.

Where Is Discover Financial Services's Headquarters?

HQ Function

Serves as the central hub for Discover's corporate leadership, strategic decision-making, product development, marketing, technology, and core operational management for its banking and payment services.

Notable Features:

The Riverwoods campus spans over 177 acres and includes multiple interconnected buildings. It offers amenities such as a full-service cafeteria, fitness center, health clinic, and walking paths, designed to foster a productive and supportive employee environment.

Work Culture:

Discover's HQ work culture is often described as collaborative and customer-focused, with an emphasis on innovation in financial technology. Employees may experience a dynamic environment driven by the evolving digital banking and payments landscape. The company often highlights its commitment to diversity, equity, and inclusion.

HQ Significance:

The Riverwoods headquarters is the nerve center of Discover's operations, critical for its U.S. market leadership and the management of its global payment network. Key strategic initiatives and technological advancements are driven from this location.

Values Reflected in HQ: The headquarters likely reflects Discover's values of customer centricity, innovation, and operational excellence through its infrastructure, technology investments, and employee support facilities, aiming for a 'Brighter Future' as per their tagline.

Location:

While Discover's primary market is the United States for its direct banking and card issuing business, its global presence is significant through the Discover Global Network. This network includes Discover Network, Diners Club International (accepted in over 200 countries and territories), and PULSE. Discover has established network alliances with various international payment networks, enabling acceptance of Discover cards at millions of merchant locations and ATMs worldwide. Key international offices, such as the one in Farnborough, UK, support the Diners Club International brand and network partnerships, particularly in Europe, Asia, and other international regions.

Street Address:

2500 Lake Cook Road

City:

Riverwoods

State/Province:

Illinois

Country:

USA

Where Else Does Discover Financial Services Operate Around the World?

New Albany, Ohio, USA

Address: Various facilities in the New Albany business park area, e.g., around New Albany Rd E & Discovery Dr.

Supports national operations with a significant workforce, leveraging the region's talent pool for customer-facing and back-office roles.

Phoenix, Arizona, USA

Address: Various facilities, including locations like 3150 S 48th St, Phoenix, AZ 85040.

Serves as a key operational site for the Western U.S. and contributes to the company's overall service delivery and risk management capabilities.

West Valley City, Utah, USA

Address: General area: West Valley City operational centers.

Provides essential operational capacity and customer support, benefiting from the skilled workforce in the Salt Lake City metropolitan area.

Farnborough, Hampshire, United Kingdom

Address: Pinehurst Road, Farnborough, Hampshire, GU14 7BF, UK

Manages and expands the acceptance of Discover, Diners Club International, and network alliance cards across the EMEA region, supporting international travelers and local cardholders.

Buying Intent Signals for Discover Financial Services

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Who's Leading Discover Financial Services? Meet the Executive Team

As of April 2025, Discover Financial Services' leadership includes:

Michael G. Rhodes - Chief Executive Officer and President
John T. Greene - Executive Vice President, Chief Financial Officer
Amir Arooni - Executive Vice President, Chief Information Officer
Hope Mehlman - Executive Vice President, Chief Legal Officer and General Counsel, Corporate Secretary
Dan Capozzi - Executive Vice President, President of U.S. Cards
Carlos Minetti - Executive Vice President, President of Consumer Banking
Andy Eichfeld - Executive Vice President, Chief Human Resources and Administrative Officer
Brian Hughes - Executive Vice President, President of Payment Services

Who's Investing in Discover Financial Services?

Discover Financial Services has been backed by several prominent investors over the years, including:

The Vanguard Group, Inc.
BlackRock, Inc.
State Street Corporation
Capital World Investors
Morgan Stanley

What Leadership Changes Has Discover Financial Services Seen Recently?

Hire2
Exits2

The most significant executive change in the last 12 months was the CEO transition. Roger Hochschild resigned in August 2023, with John T. Greene serving as Interim CEO. Michael G. Rhodes was appointed as the new CEO and President, starting in late March 2024. Additionally, Terrence R. West, EVP, Chief Information Security Officer, retired in April 2024, and was succeeded by Shibu K. Thomas.

Departures

Roger C. Hochschild, Roger C. Hochschild resigned as Chief Executive Officer and President.
Terrence R. West, Terrence R. West retired as EVP, Chief Information Security Officer.

New Appointments:

Michael G. Rhodes, Michael G. Rhodes appointed as new Chief Executive Officer and President.
John T. Greene, John T. Greene appointed Interim CEO (in addition to CFO role) until new CEO started.
Shibu K. Thomas, Shibu K. Thomas appointed as new EVP, Chief Information Security Officer.

What Technology (Tech Stack) Is Used byDiscover Financial Services?

Discover the tools Discover Financial Services uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Discover Financial Services Email Formats and Examples

Discover Financial Services commonly uses a few standard email formats for its employees. The most prevalent formats are typically a combination of the employee's first name and last name, or first initial and last name, followed by '@discover.com'. For example, an employee named Jane Doe might have an email address like janedoe@discover.com or jdoe@discover.com.

[firstinitial][last]@discover.com or [firstname][lastname]@discover.com

Format

jdoe@discover.com

Example

80%

Success rate

What's the Latest News About Discover Financial Services?

Discover Investor RelationsApril 18, 2024

Discover Financial Services Reports First Quarter 2024 Net Income of $308 Million or $1.10 Per Diluted Share

Discover Financial Services reported first quarter 2024 net income of $308 million, or $1.10 per diluted share. This was a decrease from $968 million in the prior year quarter, primarily driven by a higher provision for credit losses and an FDIC special assessment, partially offset by higher revenue net of interest expense....more

ReutersFebruary 20, 2024

Capital One to acquire Discover Financial in $35.3 billion deal

Capital One Financial announced its intention to acquire Discover Financial Services in an all-stock transaction valued at $35.3 billion. The proposed merger aims to create a global payments platform by combining Capital One's established credit card business with Discover's valuable payment network. The completion of the deal is subject to regulatory approvals and approval from both companies' shareholders....more

Discover Investor RelationsDecember 13, 2023

Discover Financial Services Names Michael G. Rhodes Chief Executive Officer and President

Discover announced that its Board of Directors appointed Michael G. Rhodes as Chief Executive Officer and President, and a member of the Board of Directors, effective on or before March 27, 2024. John T. Greene, who served as interim CEO, would continue in his role as Executive Vice President, Chief Financial Officer....more

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