United States

People: Discover Financial Services (DFS.N)

DFS.N on New York Stock Exchange

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Nelms, David 

Mr. David W. Nelms is Chairman and Chief Executive Officer of the Company. Mr. Nelms has served as the chief executive officer of Discover since 2004 and served as our president and chief operating officer from 1998 to 2004. Mr. Nelms led our business as a director from 1998 and our Chairman from 2004 until the June 2007 spin-off from Morgan Stanley, our former parent company. Mr. Nelms is currently serving a three-year term on the Federal Reserve Board of Chicago Board of Directors. Mr. Nelms also serves on the board of directors of CDW Corporation, a leading provider of technology solutions to business, government, education and healthcare. Prior to joining Discover, Mr. Nelms worked at MBNA America Bank from 1991 to 1998, most recently as a vice chairman. From 1990 to 1991, Mr. Nelms was a senior product manager for Progressive Insurance. From 1986 to 1990, Mr. Nelms was a management consultant with Bain & Company. Mr. Nelms’ deep understanding of the Company’s business and the financial services industry provides critical expertise to the Company and makes him well-qualified to serve as Chairman. He also brings valuable leadership experience in risk management, consumer financial services, including operating in the current regulatory environment, corporate finance, information technology and knowledge of operations and the day-to-day management of a global financial corporation, which plays a critical role in board discussions regarding strategic planning and business development for the Company.

Basic Compensation

Total Annual Compensation, USD 1,000,000
Restricted Stock Awards, USD 6,000,040
Long-Term Incentive Plans, USD --
All Other, USD 1,775,980
Fiscal Year Total, USD 8,776,020

Options Compensation

  Quantity Market Value
Exercisable -- --
Unexercisable -- --
Exercised 45,315 1,345,000.00