Frank Bisignano
American businessman (born 1959) From Wikipedia, the free encyclopedia
Frank J. Bisignano (born August 9, 1959) is an American businessman and the president and CEO of Fiserv, on contract until 2027. He previously was the CEO of First Data, and the COO of JPMorgan Chase. He is consistently rated as one of the highest-paid CEOs in the United States, reportedly having reached $100 million in 2017.
Frank Bisignano | |
|---|---|
| Commissioner of the Social Security Administration Nominee | |
| Assuming office TBD | |
| President | Donald Trump |
| Succeeding | Leland Dudek (acting) |
| Personal details | |
| Born | August 9, 1959 New York City, U.S. |
| Political party | Republican |
| Education | Baker University Newport University (BS) |
In December 2024, president-elect Donald Trump named Bisignano as his nominee for commissioner of the Social Security Administration. On January 28, 2025, the Senate had received the message of withdrawal of nomination from the President, who later restored the nomination.
Career
Summarize
Perspective
Bisignano attended Baker University and graduated from Newport University in California.[1][2] Based in New York City, Bisignano started his career as a VP of both Shearson Lehman Brothers and First Fidelity Bank.[3] Starting in 1994, he held several executive positions at Citigroup,[4] with American Banker writing that "he got his payments industry bona fides at Citi by running its massive global transaction services unit."[5] In 2004, the publication Treasury and Risk named him one of the "100 most influential people in finance".[6]
Hired as CAO of JPMorgan Chase in 2005, CEO Jamie Dimon "trusted him with integrating the bank's purchases of a floundering Bear Stearns Cos. and bankrupt Washington Mutual Inc. during the crisis".[7] Bisignano was also a primary negotiator in JPMorgan's acquisition of the Canary Wharf property in London,[8] and CEO for several of JPMorgan's mortgage banking divisions.[4] In 2012, he was promoted to co-COO,[4] and the Financial Times called him "one of [JPMorgan']s most influential, yet least visible, executives".[9][10]
In 2013, Bisignano became chairman and CEO of First Data Corporation,[4][11] and his tenure attracted press coverage.[7][12][8][13] He oversaw a technological push, and in 2014, First Data collaborated with Apple Inc. on Apple Pay.[13][7][14] Bisignano is also on the boards of organizations such as Continuum Health Partners and the Metro Atlanta Chamber of Commerce.[3] Following Fiserv's acquisition of First Data in 2019, Bisignano became Fiserv CEO in July 2020.[15]
A 2018 Bloomberg editorial suggested that in 2013, Bisignano might have been the source of a leak regarding a Federal investigation into possible manipulation of US energy markets by JP Morgan.[16]
Bisignano is consistently rated as one of the highest-paid CEOs in the United States. In 2017, The New York Times reported that his compensation exceeded $100 million.[17] In 2019, his compensation was estimated at $40 million.[18] In December 2022, Bisignano signed a new contract with Fiserv to remain as president and CEO until 2027.[19] In 2023, Bisignano's total compensation from Fiserv was $27.9 million, up 57% from the previous year and representing a CEO-to-median worker pay ratio of 380-to-1.[20]
Under Bisignano's tenure, hundreds of First Data and FiServ locations have closed, resulting in the termination of thousands of employees. Employees who previously had remote positions due to the COVID-19 pandemic or other legacy reasons have reportedly been particularly targeted.[21]
Prospective SSA director
In December 2024, president-elect Donald Trump named Bisignano as his nominee for commissioner of the Social Security Administration.[22] On January 28, 2025, the Senate had received the message of withdrawal of nomination from the President, who later restored the nomination.[23][24]
The Senate Finance Committee scheduled March 25, 2025, for Bisignano to speak and answer questions about his qualifications to be the commissioner for the Social Security Administration.[25]
Politics
Bisignano is a long-time supporter of the Republican Party, and Donald Trump in particular. He has donated hundreds of thousands of dollars toward Republican campaigns, including a $125,000 contribution to Trump Victory in 2019.[26]
His wife, Tracy Bisignano, also made significant contributions to the Trump 47 Committee, Inc. totaling $924,600 in October 2024. [27]
References
External links
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