Roger C. Hochschild served as the CEO and President of Discover Financial Services from 2018 until August 2023. He has an impressive background in finance, holding a Bachelor's degree from the University of Michigan and an MBA from the University...

Roger C. Hochschild served as the CEO and President of Discover Financial Services from 2018 until August 2023. He has an impressive background in finance, holding a Bachelor's degree from the University of Michigan and an MBA from the University of Chicago. Hochschild has extensive experience in the financial services industry, previously serving as Executive Vice President at Morgan Stanley. During his time at Discover, he focused on performance and adapting the business to changing market conditions, which included managing the impact of the COVID-19 pandemic. He was known for significant initiatives in risk management and operational efficiency. His total compensation for 2023 was approximately $11 million, including a bonus for his performance prior to his resignation. After stepping down as CEO, he continues to advise the Chairman of the Board until the end of 2023. Hochschild's leadership has been crucial in steering Discover through a transformative period, emphasizing innovation in consumer financial services, especially in areas like digital payments.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Discover Financial Services CEOs

D

Roger C. Hochschild

Ex-CEO of Discover Financial Services

Education

Bachelor's degree from the University of Michigan and an MBA from the University of Chicago.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

March 10, 1963 - 62 years ago

CEO of Discover Financial Services for

4 years 9 months (Nov 2018 - Aug 2023)

Previous Experience

President and Chief Operating Officer of Discover Financial Services prior to becoming CEO.

Rivals

Competitors/colleagues of Roger C. Hochschild

Holdings

See how much did Roger C. Hochschild make over time.

Roger C. Hochschild held significant stakes in Discover Financial Services, particularly throughout his tenure as CEO. In 2023, he stepped down from his position but his wealth remained largely tied to his stock awards. Historically, his financial interests in Discover...

Roger C. Hochschild held significant stakes in Discover Financial Services, particularly throughout his tenure as CEO. In 2023, he stepped down from his position but his wealth remained largely tied to his stock awards. Historically, his financial interests in Discover peaked during 2020, when his vested stock units were valued at approximately $12.7 million at the time of vesting. As of 2023, he continued to maintain substantial holdings, which reflected his long-term commitment to the company and its performance amid market fluctuations.

Mar 11, 2025

D

shares

DFS @ $158.76

P

shares

PFG @ $83.28

Total Stock Sold

$71.86M

DFS

$71.86M

1,378,466 DFS shares

What if they kept their stock?

If Roger C. Hochschild didn't sell their stock, today they would have:
Extra DFS1,378,466 shares worth $80.31M.
This is 11.77% and $8.45M more than what they got when they sold the stock.

Charitable Transactions

DFS

231,147 shares

DFS

Recent Charitable Transactions

DFS

20,000 shares

DFS

Dec 7, 2022

Charity

DFS

14,056 shares

DFS

Dec 3, 2021

Charity

DFS

20,000 shares

DFS

Feb 19, 2021

Charity

DFS

14,056 shares

DFS

Nov 1, 2019

Charity

DFS

14,056 shares

DFS

Nov 1, 2019

Charity

DFS

12,000 shares

DFS

Oct 31, 2018

Charity

Insider Trading

See recent insider trades of Roger C. Hochschild.

PFG

303 shares

PFG

Jun 28, 2024

Received

PFG

2,395 shares

PFG

May 21, 2024

Received

PFG

250 shares

PFG

Mar 28, 2024

Received

PFG

265 shares

PFG

Dec 20, 2023

Received

PFG

277 shares

PFG

Sep 29, 2023

Received

PFG

257 shares

PFG

Jun 30, 2023

Received

PFG

2,750 shares

PFG

May 16, 2023

Received

PFG

236 shares

PFG

Mar 31, 2023

Received

DFS

21,286 shares

DFS

Feb 23, 2023

Received

DFS

96,893 shares

DFS

Feb 1, 2023

Received

Compensation History

See how much did Roger C. Hochschild make over time.

In 2023, Roger C. Hochschild's total compensation reached about $11 million. His salary was set at $1.1 million, with the majority of his earnings coming from a bonus of over $9 million, awarded for his performance leading up to his departure in August. The impressive bonus reflects the company's financial health during his management. He also realized significant value from his vesting stock awards, bringing his total reported compensation to $13.4 million in some years. Throughout his tenure, Hochschild's compensation demonstrated a strong link to the company's performance metrics, which focused on long-term growth and shareholder value. The approach to compensation was in line with the firm's philosophy of tying executive pay to both individual performance and broader company goals over time.

Year

2023

Total Compensation

$34.80M

Salary

$1.10M

Board Justification

The compensation philosophy emphasizes performance-based pay to align the interests of executives with those of shareholders, focusing on long-term value creation.

Bonus

$9.43M

Board Justification

The bonus was awarded in recognition of Mr. Hochschild's performance as CEO prior to his resignation in August 2023.

Other

$10.89M

Board Justification

Other compensation includes various benefits and perquisites, including personal security and travel expenses.

Restricted Stock

$13.38M(115.53K RSU)

Board Justification

The stock awards that vested in 2023 were based on prior grants, with a total value realized of $13,382,072.

Performance Metrics

The performance metrics for determining compensation included company financial performance and individual contributions.

Other Discover Financial Services CEOs

Here are other CEOs of Discover Financial Services

David W. Nelms

Ex-CEO of Discover Financial Services

September 2004 - October 2018

John B. Owen

Ex-CEO of Discover Financial Services

August 2023 - April 2024