Discover Financial Appoints CMO

CHICAGO Discover Financial Services has named Margaret Georgiadis its new chief marketing officer.

Georgiadis had previously been a partner at McKinsey & Co.’s Chicago and London offices. During her 16 years there, she founded the company’s customer acquisition and management and retail marketing practices.

Discover spends about $90 million annually on advertising, according to TNS Media Intelligence/CMR. Publicis’ Starcom in Chicago handles media chores.

Discover’s lead creative agency is Omnicom’s Goodby, Silverstein & Partners in San Francisco. The company, however, earlier this year had asked Publicis Groupe’s Leo Burnett to present ideas about the brand’s advertising [Adweek, July 12]. Burnett handles advertising for Discover parent Morgan Stanley.

The outcome of those presentations was unclear.

“I’m excited that Margo is joining Discover at a time when we see great opportunities for growth in the credit card marketplace,” said David Nelms, chairman and CEO of the Riverwoods, Ill., company, in a statement. “Margo brings a wealth of experience, new ideas and a unique leadership style to Discover and we look forward to her contributions to the overall success of our company.”