Discover Financial Services
Headquarters: Riverwoods, Ill. A division of $111 billion Morgan Stanley.
Leadership: David W. Nelms, chairman and chief executive.
2004 results (fiscal year ends Nov. 30): Pre-tax profits of $1.3 billion on revenues of $3.6 billion. Network volume rose 2% to $99.6 billion.
2004 receivables: $48.3 billion.
Cardholders: 19.7 million active accounts.
Partnerships: Launched Wal-Mart Discover cobranded card with Wal-Mart Stores Inc. and GE Consumer Finance-Americas in March. Allied with biometric provider Pay By Touch.
Other: Bought Pulse EFT Network in January for $311 million to expand into debit cards, partner with Pulse's 4,100 members; has 1.3 million cards carry Morgan Stanley brand in United Kingdom.
Authoritative analysis and perspective for every segment of the payments industry
Authoritative analysis and perspective for every segment of the industry
Have an account? Sign In