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Former TD Bank exec Michael Rhodes appointed as new CEO and president of Discover Financial Services

  • Discover Financial Services appoints Michael Rhodes as new CEO and president, effective March 6, 2024.
  • Rhodes will also become president of Discover Bank and join the company’s board of directors.
  • The appointment follows the departure of former CEO Roger Hochschild four months ago, with John Owen serving as interim CEO until Rhodes takes over.
  • Rhodes, with over 25 years of experience, comes from Canadian banking giant TD Bank, where he was the group head for Canadian personal banking.
  • Before TD Bank, Rhodes held leadership roles at Bank of America and MBNA America Bank.
  • Rhodes sees his appointment as crucial, stating that Discover is well-positioned to capitalize on future market opportunities.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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