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Nelms, David

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David W. Nelms is Chairman and Chief Executive Officer of Discover Financial Services, a business unit of Morgan Stanley.  He is responsible for all Discover® branded financial services, including credit cards, investment products, mortgages, and insurance, as well as Discover Network, the largest proprietary credit card network in the United States.  Nelms is also responsible for Morgan Stanley‘s international consumer banking and credit card activities, and is Chairman of Discover Bank, the issuing bank for the Discover Card brands.

 

Discover Financial Services continues to be one of the largest issuers of general purpose credit cards in the United States, with more than 50 million Cardmembers and $50 billion in consumer loans.  Nelms has been instrumental in the success of several products and services, including the Discover Platinum Card, the Discover 2GOsm Card, the Discover Gift Card, home loans, Discover® Debit, and most recently the Discover Business Card.  Also, under Nelms’ direction, the Company acquired PULSE® EFT Association and formed a new partnership with GE Consumer Finance to issue a Wal-Mart Discover credit card on the Discover Network.  Nelms also led the launch of Morgan Stanley's credit card business in the United Kingdom, including the acquisition of Goldfish, which now has more than 2 million customers.

 

Prior to his appointment at Discover in September of 1998, Nelms served as Vice Chairman of MBNA America Bank.

 

Nelms holds a B.S. in Mechanical Engineering from the University of Florida and an MBA from the Harvard Business School.  In addition to his responsibilities with Discover, Nelms is on the Chicago Board of the Juvenile Diabetes Research Foundation and Junior Achievement.

 

He can be reached at (224) 405-3012.

 

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