Discover Financial Services

David W. Nelms was elected chairman of the board in January 2009. He has served as chief executive officer since 2004, and was president and chief operating officer from 1998 to 2004. Prior to joining Discover, David worked at MBNA America Bank from 1990 to 1998, most recently as a vice chairman. He holds a Bachelor of Science degree in mechanical engineering from the University of Florida and an M.B.A. from Harvard Business School.

Roger C. Hochschild has served as president and chief operating officer since 2004, and was executive vice president, chief marketing officer from 1998 to 2001. From 2001 to 2004, Roger was executive vice president, chief administrative and chief strategic officer of Morgan Stanley. He holds a bachelor's degree in economics from Georgetown University and an M.B.A. from the Amos Tuck School at Dartmouth College.

Harit Talwar was named executive vice president, card programs and chief marketing officer in December 2008. He was executive vice president, Discover Network from December 2003 to December 2008. From 2000 to 2003, he was managing director for Discover international business. Previously, Harit held a number of positions at Citigroup from 1985 to 2000, most recently as country head of the consumer banking division in Poland. He holds a B.A. Hons degree in economics from Delhi University in India and received his M.B.A. from the Indian Institute of Management, Ahmedabad.

James V. Panzarino has served as senior vice president and chief credit risk officer since 2006, and was senior vice president of Cardmember Assistance from 2003 to 2006. Prior to joining Discover, Jim was vice president of external collections and recovery at American Express from 1998 to 2002. He holds a bachelor's degree in business management and communication from Adelphi University.

Roy A. Guthrie has served as executive vice president, chief financial officer since 2005. Prior to joining Discover, Roy was president and chief executive officer of CitiFinancial International, LTD, a Consumer Finance Business of Citigroup, from 2000 to 2004. In addition, Roy served on Citigroup's Management Committee during this period of time. Roy served as chief financial officer of Associates First Capital Corporation from 1996 to 2000, while it was a public company and served as a member of its board from 1998 to 2000. He holds a bachelor's degree in economics from Hanover College and an M.B.A. from Drake University.

Diane E. Offereins was named executive vice president, payment services in December 2008 with responsibility for Discover Network, PULSE and Diners Club International. She was executive vice president, chief technology officer from 1998 to December 2008. She has overseen the PULSE Network since 2006. From 1993 to 1998, Diane was at MBNA America Bank, most recently as senior executive vice president. She holds a Bachelor of Business Administration degree in accounting from Loyola University.

Kathryn McNamara Corley has served as senior vice president and general counsel since 1999 and as secretary since 2007. Prior to becoming general counsel, Kathryn was managing director for Morgan Stanley's global government and regulatory relations. She holds a bachelor's degree in political science from the University of Southern California and a J.D. from George Mason University School of Law.

Mark Scarborough has more than two decades of senior executive experience in the financial services industry, overseeing marketing, risk and operations. He is currently a vice president at Discover Financial Services. Before that, he served for 11 years at MNBA, a major financial services company. He earned his undergraduate degree at the University of Delaware and has completed the Executive Development Program of The Wharton School at the University of Pennsylvania.

Tina Hauri is the Director of Information Security for Discover Financial Services. Ms. Hauri has over twenty years experience in technology deployment, management, and consulting at every level. Ms. Hauri holds a Bachelor of Science degree in organizational behavior from Northwestern University. She served as Chapter President of the ISSA (Information Systems Security Association) Chicago Chapter from 2003-2005. She also Chairs the Board for the Wright College Computer Security & Forensic Investigation Program in Chicago. Ms. Hauri also serves on the Board of Directors of OAI, Inc.

Abbie J. Smith, 54, is the Boris and Irene Stern Professor of Accounting at the Graduate School of Business of the University of Chicago. She joined their faculty in 1980 upon completion of her Ph.D. at Cornell University. The primary focus of her research is corporate restructuring, transparency, and corporate governance. Professor Smith is a co-editor of the Journal of Accounting Research. Ms. Smith was elected to the Board of Directors in July 2003 and is the Chair of the Audit Committee and a member of the Finance Committee. Ms. Smith serves on the Boards of Directors of HNI Corporation, DFA Investment Dimensions Group Inc. and Dimensional Investment Group Inc. E. Follin Smith, 48, served as the Executive Vice President, Chief Financial Officer and Chief Administrative Officer of Constellation Energy Group, Inc., the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller, until May 2007. Ms. Smith joined Constellation Energy Group as Senior Vice President, Chief Financial Officer in June 2001 and was appointed Chief Administrative Officer in December 2003. Before joining Constellation Energy Group, Ms. Smith was Senior Vice President and Chief Financial Officer of Armstrong Holdings, Inc., the global leader in hard-surface flooring and ceilings. Ms. Smith began her career with Armstrong in 1998 as Vice President and Treasurer and was promoted to her last position in March 2000. Prior to joining Armstrong, Ms. Smith held various senior financial positions with General Motors including Chief Financial Officer for General Motors' Delphi Chassis Systems division. Ms. Smith was elected to the Board of Directors in July 2005 and is a member of the Audit Committee and the Corporate Governance and Nominating Committee. Ms. Smith serves on the Board of Directors of Discover Financial Services, the Board of Trustees of the University of Virginia's Darden School of Business, the Board of Visitors of Davidson College and the Board of CENTERSTAGE, in Baltimore, Maryland.

Cynthia A. Glassman Ph.D, 61. Director since 2009. Dr. Glassman was appointed by President Bush as Under Secretary for Economic Affairs at the U.S. Department of Commerce from 2006-2009 and as Commissioner of the U.S. Securities and Exchange Commission from 2002-2006. Dr. Glassman has spent over 35 years in the public and private sectors focusing on financial services regulatory and public policy issues, including 12 years at the Federal Reserve and 15 years in consulting. Dr. Glassman has been elected to the Board of the SEC Historical Society and is an Honorary Fellow of Lucy Cavendish College, University of Cambridge, England.

Mr. Case has been president and chief executive officer of Aon Corporation since 2005 and is a member of the company's board of directors. Prior to joining Aon, Mr. Case was with McKinsey & Company, the international management consulting firm, for 17 years, most recently serving as head of the Financial Services Practice. Prior to joining McKinsey, he worked for the investment banking firm of Piper, Jaffray and Hopwood and the Federal Reserve Bank in Kansas City. He serves as a director of Children's Memorial Hospital, the Economic Club of Chicago, and the Financial Services Roundtable, among others.

Mr. Aronin is president and chief executive officer of Ovation Pharmaceuticals, Inc., a biopharmaceutical company he founded in 2000. He is the former chairman and chief executive officer at MedCare Technologies Inc., a publicly held healthcare company. He also has held various executive positions at American Health Products Corporation, including leadership of both marketing and business development, and in the pharmaceutical division of Carter-Wallace, Inc.

Mr. Weinbach was elected lead director in January 2009. He has been a partner of Yankee Hill Capital Management LLC, a private equity firm, since 2006. Prior to that, he was the executive chairman of Unisys Corporation, a worldwide information services and technology company, from 2005 to 2006, and its chairman and chief executive officer from 1997 to 2004. He began his career in 1961 at Arthur Andersen, ultimately serving as managing partner and chief executive of Andersen Worldwide, a global professional services organization, which included Arthur Andersen and the company known as Accenture from 1989 to 1997. Mr. Weinbach serves on the boards of directors of Avon Products, Inc., UBS AG and Quadra Realty Trust, Inc.

Ms. Bush has served as a Director of ManTech since 2006. Ms. Bush founded Bush International, a global consulting firm in 1991. From 1989 to 1991, Ms. Bush served as Managing Director and Head of the Federal Housing Finance Board, the oversight body for the nation s 12 Federal Home Loan Banks. Prior to 1989, Ms. Bush was the Vice President and Head of International Finance at the Federal National Mortgage Associate (Fannie Mae). From 1982 to 1984, Ms. Bush served as U.S. Alternate Executive Director of the International Monetary Fund (IMF), a position appointed by the President of the United States and confirmed by the Senate. In that capacity, she worked with the U.S. Treasury Department to formulate policy on IMF lending and global economic matters. Ms. Bush serves on the board of directors of The Pioneer Family of Mutual Funds, Briggs & Stratton Corporation, Discover Financial Services, Marriott International, Inc and UAL Corporation (United Airlines).

Michael H. Moskow is the Vice Chairman and Senior Fellow on the Global Economy at the Chicago Council on Global Affairs He served as president and chief executive officer of the Federal Reserve Bank of Chicago from 1994-2007. In that capacity, he was a member of the Federal Open Market Committee, the Federal Reserve System's most important monetary policymaking body. Mr. Moskow's career includes service in the public and private sectors, as well as academia. During the course of his career, Mr. Moskow has been confirmed by the Senate for five U.S. government positions. He began his career teaching economics, labor relations, and management at Temple University, Lafayette College, and Drexel University. From 1969 to 1977, he held a number of senior positions with the U.S. government, including under secretary of labor at the U.S. Department of Labor, director of the Council on Wage and Price Stability, assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development, and senior staff economist with the Council of Economic Advisers. In 1977, Mr. Moskow joined the private sector at Esmark, Inc. in Chicago and later held senior management positions at Northwest Industries, Dart and Kraft, Inc., and Premark International, Inc., a spin-off from Dart and Kraft. In 1991, President Bush appointed Mr. Moskow Deputy United States Trade Representative, with the rank of Ambassador. He was responsible for trade negotiations with Japan, China, and Southeast Asian countries as well as industries such as steel, semiconductors, and aircraft. Mr. Moskow returned to academia in 1993, joining the faculty of the J.L. Kellogg Graduate School of Management at Northwestern University, where he was professor of strategy and international management at the time of his appointment as president of the Chicago Reserve Bank. Mr. Moskow is active in numerous professional and civic organizations. He is the former chairman of The Economic Club of Chicago and serves as a director of the Northwestern Memorial Foundation, World Business Chicago, and the Chicagoland Chamber of Commerce. He is a member of the Commercial Club of Chicago, a fellow of the National Academy of Public Administration, and a Board member and former Chairman of the National Bureau of Economic Research. In addition to being a trustee of Lafayette College, Mr. Moskow is a member of the Advisory Board to the Kellogg Graduate School of Management at Northwestern University. Since leaving his position at the Federal Reserve, Mr. Moskow joined the boards of directors of Discover Financial Services, Commonwealth Edison, Northern Funds, Diamond Management & Technology Consultants, and Taylor Capital Group. Mr. Moskow was born in Paterson, New Jersey. He received an A.B. in economics from Lafayette College in Easton, Pennsylvania and a Ph.D. in business and applied economics from the University of Pennsylvania. He is married to Suzanne Kopp-Moskow and has three married children and six grandchildren.

Philip A. Laskawy retired from Ernst & Young in September 2001, after having held several positions during his employment there from 1961 to 2001, including serving as chairman and chief executive officer from 1994 until his retirement in 2001. In 2006-2007, he served as chairman of the International Accounting Standards Committee Foundation, which sets accounting standards in more than 100 countries. Mr. Laskawy currently serves on the Boards of Directors of General Motors Corporation, Henry Schein, Inc., Lazard Ltd., and Loews Corporation.

Robert Devlin joined the America's Promise board of directors in November 1998. He is presently chairman of Curragh Capital Partners, a private equity firm. Mr. Devlin's career in the financial services business spans 41 years, and includes serving as chairman, president and chief executive officer of American General, one of the nation's largest diversified financial services organizations. Mr. Devlin is a member of the board of directors of Cooper Industries, Houston and LKQ Corporation, Chicago. He is also a trustee of both Boston College and Tulane University and also serves on the executive council for the American Irish Historical Society. Mr. Devlin is also a member of the board of directors and serves on the executive committee for the International Insurance Society, Inc.

Mr. Maheras is a partner at Tegean Capital Management, LLC. He has extensive banking and capital markets experience, including 23 years at Citi, where he was chairman and co-CEO of Citi markets and banking. He was formerly chairman of the U.S. Treasury Department Borrowing Advisory Committee and a director of the Securities Industry and Financial Markets Association. He is a member of the Board of Trustees of Carnegie Hall and a member of the Business Advisory Council for the Mendoza College of Business at the University of Notre Dame, where he received a degree in finance.

Carlos Minetti has served as executive vice president of Cardmember Services since January 2001. In addition, he was appointed to oversee consumer banking products in 2006. Prior to joining Discover, Carlos worked in card operations and risk management for American Express from 1987 to 2000, most recently as senior vice president. He holds a Bachelor of Science degree in industrial engineering from Texas A&M University and an M.B.A. from the University of Chicago.