RIVERWOODS, Ill.--(BUSINESS WIRE)--March 31, 2008--Discover
Financial Services today announced that Kevin Killips has been named
controller and chief accounting officer. In this newly created
position, Killips will oversee all aspects of Discover Financial
Services' accounting function. He will report directly to Roy A.
Guthrie, chief financial officer for Discover.
"Kevin brings years of invaluable finance and accounting
experience to the position of Discover's chief accounting officer,"
said Guthrie. "We expect that his leadership will be a great asset as
we move forward to expand our business and take advantage of new
opportunities in the financial services industry."
"As chief accounting officer, I look forward to contributing to
the Company's efforts to grow its profitability and expand its Card
and payments businesses," said Killips. "Applying my knowledge to a
company with such an impressive track record and leading industry
position will undoubtedly be a rewarding experience."
Killips comes to Discover Financial Services from LaSalle Bank
where he worked for nearly ten years most recently serving as
executive vice president, North American chief accounting officer and
corporate controller. There he was responsible for the comprehensive
accounting function of ABN AMRO's North American operations including
reporting, policy, tax, financial control, budgeting, financial
systems and project management.
Prior to his work with LaSalle, Killips was the director of
Internal Audit, and then vice president-Finance for leasing operations
at Transamerica Corporation. Killips was also at Ernst & Young from
1979-1993. Killips, a certified public accountant, holds a bachelor's
degree from Dominican University in River Forest, Illinois.
Killips will begin his new role at Discover on March 31, 2008.
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card
issuer and electronic payment services company with one of the most
recognized brands in U.S. financial services. The company operates the
Discover Card, America's cash rewards pioneer. Since its inception in
1986, the company has become one of the largest card issuers in the
United States. Its payments businesses consist of the Discover
Network, with millions of merchant and cash access locations, and
PULSE, one of the nation's leading ATM/debit networks. For more
information, visit www.discoverfinancial.com.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements are based upon the current beliefs and expectations of
Discover Financial Services' management and are subject to significant
risks and uncertainties. Actual results may differ materially from
those set forth in the forward-looking statements. The following
factors, among others, could cause actual results to differ materially
from those set forth in the forward-looking statements: the actions
and initiatives of current and potential competitors; our ability to
manage credit risks and securitize our receivables at acceptable
rates; changes in economic variables, such as the number and size of
personal bankruptcy filings, the rate of unemployment and the levels
of consumer confidence and consumer debt; the level and volatility of
equity prices, commodity prices and interest rates, currency values,
investments and other market indices; the availability and cost of
funding and capital; access to U.S. debt markets; the ability to
increase or sustain Discover Card usage or attract new cardmembers and
introduce new products and services; our ability to attract new
merchants and maintain relationships with current merchants; material
security breaches of key systems; unforeseen and catastrophic events;
our reputation; the potential effects of technological changes; the
effect of political, economic and market conditions and geopolitical
events; unanticipated developments relating to lawsuits,
investigations or similar matters; the impact of current, pending and
future legislation, regulation and regulatory and legal actions; our
ability to attract and retain employees; the ability to protect our
intellectual property; the impact of our separation from Morgan
Stanley; the impact of any potential future acquisitions; investor
sentiment; and the restrictions on our operations resulting from
indebtedness incurred during our separation from Morgan Stanley.
These forward-looking statements speak only as of the date of this
press release, and there is no undertaking to update or revise them as
more information becomes available. Additional factors that could
cause Discover Financial Services' results to differ materially from
those described in the forward-looking statements can be found in the
Company's annual report on Form 10-K, filed with the SEC and available
at the SEC's internet site (http://www.sec.gov).
CONTACT: Discover Financial Services
Mai Lee Ua
(224) 405-3082
SOURCE: Discover Financial Services