Frank Bisignano is set to become the new CEO of Fiserv on July 1, replacing Jeffery Yabuki in the role. Yabuki, who is also chair of Fiserv’s board, will continue to serve as executive chair for the remainder of 2020.
“With the successful integration of First Data well underway, this is the right time for Frank to lead the next phase of the company’s evolution,” Yabuki said. “Frank and I have had the pleasure of working closely over the past 18 months — and I am highly confident he brings the skill and experience to deliver the leadership that is needed today, while building for tomorrow.”
With more than 30 years of senior leadership experience, Bisisagno has been president, chief operating officer and a director of Fiserv since the company completed its acquisition of First Data in July 2019.
During his tenure at First Data, Bisignano served as chair and CEO and transformed the 48-year-old company from the world’s largest traditional payment processor into a technology innovator, improving the company’s balance sheet and leading its $2.6 billion initial public offering in 2015. Before joining First Data, Bisignano served as co-COO at JPMorgan Chase & Co, where he had previously been CEO of mortgage banking. His background also includes leadership positions at Citigroup, including chief administrative officer and CEO of the company’s global transaction services unit. He sits on the board of Humana, Inc.
“I thank the board of directors for placing their trust in me to lead Fiserv as its next CEO, and I thank Jeff for all that he has done for the company and our people — including me — during his tenure,” Bisisagno said. “Fiserv is an industry leader with great businesses and tremendous talent, and I am honored to have the opportunity to lead this great team.”
Prior to joining Fiserv, Yabuki was executive vice president and COO at H&R Block for more than six years. Before H&R Block, Yabuki held a progression of leadership positions during 12 years at American Express, culminating with president and CEO of American Express Tax and Business Services.