Fiserv, Inc. chief executive officer and chairman Jeffery Yabuki will step down after leading the Brookfield-based global payments and financial services technology company for 15 years, the company announced today.
Yabuki will be succeeded by Frank Bisignano, who is currently Fiserv’s president, chief operating officer and director. Bisignano will become CEO on July 1 and Yabuki will continue to serve as executive chairman for the remainder of 2020.
Before joining Fiserv, Bisignano was chairman and chief executive officer of New York-based point-of-sale transaction giant First Data Corp., which was acquired by Fiserv in a $22 billion all-stock deal that closed in July of 2019.
Bisignano will become the fourth CEO in the 36-year history of Fiserv.
“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,” said Yabuki. “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.”
[caption id="attachment_504145" align="alignright" width="300"] Frank Bisignano[/caption]
Bisignano has served as president, COO and director of Fiserv since its acquisition of First Data.
“Fiserv is an industry leader with great businesses and tremendous talent, and I am honored to have the opportunity to lead this great team,” Bisignano said. “I look forward to continuing to work closely with Jeff in the coming months in his capacity as executive chairman as we work together to deliver on the promise of an even stronger Fiserv.”
Before joining First Data, Bisignano served as co-chief operating officer 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 is also a member of the board of directors of Humana Inc.
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