U.S. President-Elect Donald J. Trump has announced the nomination of Fiserv Chairman, President and CEO Frank Bisignano as Commissioner of the Social Security Administration.
Trump took to the social media platform Truth to make the announcement of Bisignano’s nomination to lead the Social Security Administration, an independent agency of the government that administers Social Security.
“Serving as CEO of Fiserv is an honor and I am incredibly proud of what our team has and will accomplish,” said Bisignano. “I am honored to have this once in a lifetime opportunity to serve my country. I thank President-Elect Trump and, if confirmed, look forward to applying my experience to transform our social security system.”
Under Bisignano’s leadership, Fiserv has brought modern solutions to financial institutions, businesses and consumers. Fiserv currently serves clients in more than 100 countries, leads the IDC FinTech Top 100 ranking of global financial technology providers, and has been recognized as one of Fortune’s “World’s Most Admired Companies” for nine of the last 10 years.
Bisignano architected the combination of Fiserv with First Data Corporation in 2019, initially leading the combined company’s day-to-day operations as President and COO before becoming CEO in July 2020 and Chairman of the Board in May 2022. During his tenure at First Data, Bisignano transformed the company from the world’s largest traditional payment processor into a technology innovator, industry collaborator, and commerce enabler for the 21st century. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year.
Prior to joining First Data, Bisignano served as Co-COO and CEO of Mortgage Banking at JPMorgan Chase & Company. With more than 30 years of executive leadership experience in banks and global financial institutions, Bisignano also served in multiple leadership positions at Citigroup, including Chief Administrative Officer and CEO of the company’s Global Transaction Services unit.
Among a number of non-profit commitments, Bisignano serves on the boards of the National September 11 Memorial and Museum, the Mount Sinai Health System, and The Battery Conservancy; and is a member of Business Roundtable, a U.S.-based association of CEOs who use public policy to promote a thriving economy and expanded opportunities for Americans. He holds honorary doctorate degrees from Howard University, the New York Institute of Technology (NYIT), St. Thomas Aquinas College, and Syracuse University.
“Under Frank, Fiserv has excelled in advancing finance, technology and payments innovations to the benefit of financial institutions, businesses and communities large and small,” said Doyle R. Simons, Lead Director of Fiserv. “Succession planning has always been a priority for the Board, and we will follow our well-established succession planning process to select a new CEO to continue to build on this momentum.”
The appointment of Bisignano is subject to confirmation by the U.S. Senate, and Bisignano will continue in his current positions with the Fiserv until confirmation occurs. The Fiserv Board of Directors has an established, long-term succession plan which it will follow to select a successor to Bisignano.
“Frank has long been an effective agent for change throughout his career, most notably as COO at JPMorgan Chase, and as CEO of Fiserv,” said Ed Delgado, Managing Director at Mortgage Policy Advisors and Chairman Emeritus, Five Star Global. “The Trump Administration has made a respected and positive selection in the nomination of Mr. Bisignano to lead the Social Security Administration.”
