aimed at increasing competition in the industry. The scary thing? | 1 p.m. BROOKFIELD, Wis., December 21, 2022--Fiserv has entered into a new employment agreement with Frank Bisignano to serve as President and Chief Executive Officer through December 2027 Yes, our merchant business will be affected by consumer spending, but recognize that we have a lot of what I would call staple-related products that we have very, very large market share in, Bisignano said, . He is also responsible for managing day-to-day operations and implementing the companys strategic plan. Visit fiserv.com and follow on social media for more information and the latest company news. During his tenure at First Data, Bisignano transformed the 48-year-old company from the worlds largest traditional payment processor into a technology innovator, industry collaborator, and commerce enabler for the 21st century. Fiserv has promised to create and retain about 3,000 jobs at that location in exchange for $109.2 million in state tax credits over seven years. When asked how Fiserv would adapt in the event of an economic downturn, Bisignano, speaking Monday at Citi's 2022 FinTech Conference in New York, touted the "resilience and durability" of the company's business. Frank Bisignano is Chairman of the Board, President and Chief Executive Officer of Fiserv, Inc. (NASDAQ: FISV), a global leader in financial services and payments technology solutions for financial institutions, businesses and consumers. With a deep commitment to clients and a proven track record of execution, Frank has been a driving force in the growth and global technology leadership at Fiserv, Doyle Simons, the companys lead director, said in a Dec. 21 press release regarding the new contract. In 2021, Bisignanos total compensation was $20.4 million, according to the proxys summary compensation table. When Fiserv acquired First Data in 2019 in a $22 billion all-stock deal, the company said it would cut $900 million in expenses over five years, according to a proxy filing. Previously, Marin served as CEO of Citibank in Brazil and Corporate and Investment Bank Head for Latin America. US Treasury to Lead Working Group Looking at Digital Dollar, Worldpay and FIS: the original sin that tore up a $43bn merger, 2023 Economic Insight & Best Practices in Financial Risk Management, Instant Bank Payments: The Promise of a Faster Future. Among a number of non-profit commitments, he 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. [5][11][12][13] He oversaw a technological push at the company, and in 2014 First Data collaborated with Apple Inc. on Apple Pay. Previously, his base salary was $1.32 million, according to the companys. He is a member of the Board of Directors for Finxact, Apiture and Verisk Analytics (VRSK), which he serves as Lead Independent Director. watch now. Our people donated their time and nearly $1 million through our Fiserv Gives Back program, supporting more than 2,000 causes during the year. He has previously served on numerous prestigious boards, including TAESA, Santander Asset Management UK, the Brazilian Federation of Banks (FEBRABAN) and International Advisory Board of Thomson Reuters. The contract extends Bisignanos term as the Brookfield, Wisconsin-based companys chief executive and president to Dec. 21, 2027. I am proud of the steps we have taken to advance our ESG program this year. Bisignano . He was appointed Chief Executive Officer of Fiserv in July of 2020 and Chairman of the Board in May of 2022. Frank Bisignano | Board of Directors | Fiserv, Inc. ET, Presented by studioID and Dun and Bradstreet, Fiserv maniacally focused on expense management, Fiserv stands by profit margin expansion target, CEOs Sound Off: Payments execs navigate economic turmoil, Synchrony, Bread brace for potential late fee cap impact, Identity verification in the era of digital payments, How Restaurants Can Turbocharge Loyalty Programs with Payment Data. [17], 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. In the U.S. alone, Fiserv solutions reach nearly 100% of U.S. households. Fiserv CEO Frank Bisignano getting a slight raise in 2023 with new Politics. Cons. Fiserv to Present at Upcoming Investor Conferences We established an Energy and Sustainability team to work on all future real estate initiatives. Shub Mukherjee - Senior Vice President of Investor Relations. Ivo Distelbrink is Head of Asia Pacific at Fiserv, Inc. Himanshu Patel is Co-Head of the Banking organization at Fiserv, Inc. The company serves clients in more than 100 countries, and has been recognized as one of FORTUNE World's Most Admired Companies for 11 of the past 14 years. Fiserv discloses 7% drop in workforce | Payments Dive Wilcox joined Fiserv in September 2020 as Chief of Staff for the Office of the CEO, gaining a deep understanding of day-to-day operations across the organization and working closely with the Fiserv leadership team on a wide range of operational effectiveness initiatives. , The free newsletter covering the top industry headlines, Payoneer Survey Shows that UK-based and European Businesses Find Cross-Border Payments Challen, By signing up to receive our newsletter, you agree to our. Frank Bisignano is Chairman of the Board, President and Chief Executive Officer of Fiserv, Inc. (NASDAQ: FISV), a global leader in financial services and payments technology solutions for financial institutions, businesses and consumers. Bisignano also was asked about the impact of a new Federal Reserve debit ruleaimed at increasing competition in the industry. Fiserv hired thousandsof employees globally this year, even as others were cut from the payments technology company because they were unwilling to relocate, the company's CEO said in an interview with Payments Dive. With our robust platform of solutions, leading technology, and the best talent, Fiserv will continue to deliver for our shareholders, clients and associates in a dynamic market.". Patel is a graduate of the New York University Stern School of Business and is a CFA charterholder. Fiserv's downtown Milwaukee office 'wasn't a hard decision,' CEO says With experience at Fortune 100 companies across global business lines and regional high growth start-ups, Kereere is well-recognized for her accomplishments in digital transformation, sales optimization, front-line customer engagement, and inclusive growth. He serves on the boards of the Minority Corporate Counsel Association and New York's Hale House Center, and is a member of the Executive Leadership Council. Get the free daily newsletter read by industry experts, The e-commerce juggernaut said its offeringa new digital wallet service toits sellersand planning to roll it out more broadly over the next few months.. Still,its share of workers outside the U.S. has grown in recent years as its overall count has stayed the same, based on regulatory filings from 2019, 2020 and 2021. Previously, Hau served as Chief Financial Officer for Lennox International Inc. Hau also spent 22 years at Honeywell International Inc. in a variety of progressive financial and operations leadership roles, including serving as Chief Financial Officer of its Aerospace Business Group, Specialty Materials Business Group and Aerospace Electronic Systems Unit. Sebby held several additional risk management positions during her tenure with First Data, with a significant focus on integrating regional practices into global programs. [1] Starting in 1994, he held a number of executive positions at Citigroup,[2] with American Banker writing that "he got his payments industry bona fides at Citi by running its massive global transaction services unit. Wilcox received his undergraduate degree from Duke University and his Juris Doctor degree from the Georgetown University Law Center. Our breadth and scale across the fintech and payments landscape and millions of consumers provides unparalleled data and insights, which differentiate the experience we can provide. He has donated hundreds of thousands of dollars towards Republican campaigns, including a . He retired in 2010 as a member of the Senior Executive Service with the U.S. Government. Frank Bisignano Takes Over As Fiserv CEO | PYMNTS.com Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that it has entered into a new employment agreement with Frank Bisignano to serve as President and Chief Executive Officer through December 2027. Marino also served as CHRO at Ally Financial, where he was instrumental in the restructuring and turnaround of the nations largest auto finance company. Fiserv Names Frank Bisignano as CEO Replacing Jeffery Yabuk "[3] In 2004 the publication Treasury and Risk named him one of the "100 most influential people in finance. At Fiserv, he initially led the companys day-to-day operations as President and Chief Operating Officer before assuming the role of Fiserv Chief Executive Officer in July 2020. Under that policy, when the company enters into a new employment, severance or separation agreement with an executive officer that provides cash benefits exceeding 2.99 times the sum of the salary and target bonus, the company will include an advisory vote on that severance arrangement at its next annual shareholders meeting, according to a filing with the SEC. Fiserv is a member of the S&P 500 Index, the FORTUNE 500, and has been recognized as one of FORTUNE World's Most Admired Companies for 11 of the past 14 years and named among the Worlds Most Innovative Companies by Fast Company for two consecutive years. Fiserv hired "thousands" of employees globally this year, even as others . He was previously Executive Vice President, Group General Counsel for Willis Group Holdings, responsible for legal, corporate secretary, compliance, and audit and risk management. He has also served on the Advisory Board of the BM&F (the Brazilian Futures Exchange). We facilitated 20 billion eCommerce transactions, Our people donated their time and nearly $1 million, supporting more than 2,000 causes during the year, We increased our commitment to helping small, minority-owned businesses in their recovery, Our business enables over 6 million merchant locations and over 10,000 financial institutions every year. We said when we were doing that, that we would be a different company, Bisignano said. Among a number of non-profit commitments, he 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. Prior to joining Fiserv, he served as CHRO with First Data. Frank J. Bisignano (born August 9, 1959) . Fiserv is a member of the S&P 500 Index, the FORTUNE 500, and has been recognized as one of FORTUNE World's Most Admired Companies for 11 of the past 14 years and named among the Worlds Most Innovative Companies by Fast Company for two consecutive years. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. He was appointed Chief Executive Officer of Fiserv in July of 2020. Prior to First Data, Gelb had a distinguished career at Citi, which included nearly two decades in a variety of roles around the globe, including in the United States, Japan, United Kingdom, New Zealand, and Nigeria, among others. In 2017, the New York Times reported that his compensation exceeded $100 million. Among a number of non-profit commitments, he 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. Why Fiserv picked New Jersey and the big things it could mean for the state New Jersey Gov. Still, thousands "certainly seems a lot higher than what we would expect," he said in an email. The company serves clients in more than 100 countries, is one of Fortune Worlds Most Admired Companies, and was named among the Worlds Most Innovative Companies by Fast Company in 2021 and 2022. In 2022, we plan to assess our climate-related risks and opportunities, and provide disclosures consistent with the Task Force on Climate-Related Financial Disclosures (TCFD) standards. Board of Directors | Fiserv, Inc. Frank Bisignano is Chairman of the Board, President and Chief Executive Officer of Fiserv, Inc. (NASDAQ: FISV), a global leader in financial services and payments technology solutions for financial institutions, businesses and consumers. Christopher (Chris) M. Foskett is Chief Revenue Officer at Fiserv, Inc. Prior to joining Fiserv, Horvath served as President, Multinational Clients for ADP, leading a high-growth organization and the transformation of several businesses from legacy systems to cloud and mobile-enabled solutions. New contract extends term through 2027 and enhances governance features. Fiserv to Present at Upcoming Investor Conferences He has led product development and technology for three Fortune 500 companies and is recognized as a leader in the technology industry. Based in New York City, Bisignano started his career as VP of both Shearson Lehman Brothers and First Fidelity Bank. Prior to this, Patel served as EVP and Chief Financial Officer at First Data beginning 2015, and as EVP of Strategy, Planning, and Business Development beginning in 2013. Previously, Wilcox was Senior Vice President and Associate General Counsel at First Data. Before joining First Data, Bisignano served as Co-Chief Operating Officer and Chief Executive Officer of Mortgage Banking at JPMorgan Chase & Co. 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 Chief Executive Officer of the companys Global Transaction Services unit. This year, Fiservexpense management has included cutting employees and selling off business units. Within Fiserv, Foskett is executive sponsor of our Thrive Disability Leadership Council Employee Resource Group. The company has maintained that it has about 44,000 employees around the world. CEOsof three payments companies share how macroeconomic headwinds are affecting their businesses and how theyre seeing their firms through the uncertainty. Payments giant Fiserv has signed a new five-year employment contract with CEO Frank Bisignano that gives him a 6% salary boost. VIDEO 05:44. Gibbons joined the company in December 2018 from Deutsche Bank, where he led Global Transaction Banking. We know our levers and how to manage the expense line, and weve managed it through this whole merger in order tobe prepared for tough times, too, Bisignano said. Published Dec. 19, 2022 Caitlin Mullen Reporter. BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb. 27, 2023-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced its participation in the following investor conferences. Asher joined Fiserv in 2007 as part of its acquisition of CheckFree Corporation. Frank Bisignano . Amid a tougher macroeconomic environment last year, resembling a prior shareholder proposal that had won shareholder approval earlier last year. The. Most recently, Kereere served as Chief Growth Officer at Fiserv, leading enterprise strategy and business development initiatives to enhance client value and accelerate growth. As Head of General Services at Fiserv Inc., Tom Higgins is responsible for Global Real Estate, Global Sourcing, Cyber Security, Physical Security and Investigations, Enterprise Business Continuity, Crisis Management, and Aviation. Investor Relations Keep up with the story. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. During the year, Forbes recognized Fiserv as one of Americas Best Employers for Diversity and, in early 2022, Fiserv was named to the Bloomberg Gender-Equality Index for the sixth year in a row. We continue to refine and improve the way we operate. As the operating system for commerce and money movement across our global client base of businesses, banks, credit unions large and small and fintechs, were helping our clients grow by extending our platform to capture new services and new money flows; and doing so in a way that respects our environment, supports and fosters equitable communities, and uses the power of data in a responsible manner. She is a Certified Public Accountant and Certified Information Security Manager. Bisignano is a long-time supporter of the Republican Party, and Donald Trump in particular. Her background also includes leadership roles at American Express, including head of U.S. National Merchant Business and head of Global Network Business. "[5] Bisignano was also a primary negotiator in JPMorgan's acquisition of the Canary Wharf property in London,[6] and CEO for several of JPMorgan's mortgage banking divisions. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover cloud- based point-of-sale and business management platform. Payments giant Fiserv Inc <FISV.O> said Thursday that Frank Bisignano would become the company's chief executive on July 1, with long-time head Jeffery Yabuki remaining on as executive chairman . We will generate expanding margins, Bisignano asserted Monday. | 1 p.m. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. Want to share a company announcement with your peers? Yabuk is stepping down after heading the company for 15 years. In light of inflation pressures and rising unemployment, Bisignano said he does worry about the tougher economic environment. And I think our banking set of operating systems are of mission-critical nature for our financial institutions., The company has invested more in recent years and could slow the pace of investments if needed, Bisignano noted. The contract, which took effect Dec. 21, 2022, increases Bisignanos annual salary to $1.4 million, according to a filing with the Securities and Exchange Commission.