David Nelms


David W. Nelms retired as chairman of the board of directors and Chief Executive Officer of Discover Financial Services at the end of 2018. During his 20+ year tenure leading Discover, it grew to be the most profitable US credit card company with 17,000 employees and over $100B of assets.

During the decade following a spin-off from Morgan Stanley in 2007, DFS led all 80+ S&P Financial companies in total return to shareholders.

Discover became the 3rd largest global network with over 40MM accepting merchants following the acquisitions of the Pulse debit network and Diners Club International. DFS also became the second largest US private student lender and grew direct consumer deposits to over $50B.

 

Before his appointment at Discover in September 1998, Nelms serve as a vice chairman of MBNA America Bank. Prior to that, he held management positions at Progressive Insurance, General Electric Company, and Bain and Company.

 

David is currently the Lead Director of the Board of Directors for CDW Corporation, serves on the Executive Board of The University of Florida Foundation and is a board member of Conserving Carolina. He previously served as Audit Chairmen on the Chicago Federal Reserve Board of Directors and as the Federal Reserve Bank of Chicago’s representative on the Federal Advisory Council of the Board of Governors of the Federal Reserve System, Chairman of the Executives’ Club of Chicago, and Chairman of the Board of Directors of Junior Achievement of Chicago. He also previously served on the board of the Financial Services Roundtable, the International Board of the Juvenile Diabetes Research Foundation, and the Civic Committee of The Commercial Club of Chicago.

 

Nelms hold a bachelor’s degree in mechanical engineering from the University of Florida and an M.B.A. from the Harvard Business School.