Discover 2010 Annual Report Download - page 9

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Playing Offense
Looking back on the recession, it is clear that Discover was right to play offense on acceptance, direct-to-consumer
deposits, student lending and global network expansion. Our strategic moves over the past few years have placed us
well on our way to becoming the leading direct banking and payments company. We plan to continue down that path,
and we will focus on the following strategic priorities in 2011:
฀ ฀฀฀฀฀฀฀฀฀฀฀฀
฀ ฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀ ฀฀฀฀฀฀฀฀฀฀฀฀฀
฀ ฀฀฀฀
฀ ฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
payments market through strategic partnerships.
฀ ฀฀฀฀฀฀฀฀฀฀฀฀฀
our competitive position.
Thank You
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀฀
฀฀฀฀฀฀฀฀฀฀฀฀฀฀
David Nelms
฀฀฀฀
February 14, 2011