Credit: Adobe Stock/ALM Discover Hires Interim Legal Chief as $35B Sale to Capital One Faces New Hurdles
Discover had hoped to complete its sale before Hope Mehlman exits as legal chief Nov. 27. But Capital One recently acknowledged that completing the deal this year is no longer a possibility.
November 06, 2024 at 08:25 AM
4 minute read
Financial Services and Banking
Discover on Tuesday hired a former general counsel of the U.S. Department of Commerce as interim legal chief—a move that follows Capital One acknowledging that its hope of wrapping up its $35 billion purchase of the credit card giant by year-end is no longer realistic.
Kelly Welsh—a 35-year legal veteran who also was general counsel of Northern Trust Corp. and Ameritech, a Baby Bell created by the 1984 breakup of AT&T—succeeds Hope Mehlman, who in late August agreed to become chief legal officer of Ally Financial.
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