His previous contract, which was signed in 2019 and has been amended since then, had an initial term through July 2025, the companys proxy filing said. We consolidated our data center footprint as well as redundant office locations. Held by the Frank J. Bisignano 2022 Grantor Retained Annuity Trust. Frank Bisignano, Fiserv CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings beat, the company's future outlook and more. Relationship of Reporting Person(s) to Issuer . A Message From Frank J. Bisignano Dear Stakeholders, . 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. Bisignano also was asked about the impact of a new Federal Reserve debit ruleaimed at increasing competition in the industry. 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. Politics. Chairman, President and Chief Executive Officer. 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. 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. 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. Still, thousands "certainly seems a lot higher than what we would expect," he said in an email. Most recently, Chiarello served as Chief Administrative Officer at Fiserv, overseeing the companys technology and operations. . He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. Gibbons joined the company in December 2018 from Deutsche Bank, where he led Global Transaction Banking. I think its about investment strategy in our business, he said. Visit fiserv.com and follow on social media for more information and the latest company news. Previously, Patel was Head of Card Services at Fiserv, a role he held starting with the transformative combination of Fiserv and First Data in 2019. WI 53045 (City) (State) (Zip) 2. The company serves clients in more than 100 countries, and in 2021 was recognized among . He resides in New York with his wife and three children. Yes, we did announce that we were going to relocate people, we were going to have synergies. Some workers were offered the chance to relocate to Berkeley Heights, New Jersey, where the company recently opened one of its hub facilities. Fiserv Inc. has entered into a new contract with its chairman, president and CEO Frank Bisignano that increases his base salary by $80,000, according to a document filed Thursday with the U.S . From the transformative power of intelligent technology we are delivering and its impact on the way people live and work, and the way money and information move, to the people-centered programs we are driving that are helping to address todays pressing issues, we are focused on creating impact through our actions to benefit our clients, associates and shareholders. Could Early Warnings bank wallet have a bigger goal? She is a Certified Public Accountant and Certified Information Security Manager. He previously served as the CEO of First Data Corporation and the COO of JPMorgan Chase. [2] In 2012 he was promoted to co-COO,[2] and the Financial Times called him "one of [JPMorgan]s most influential, yet least visible, executives. The contract, which took effect Dec. 21, 2022, increases Bisignanos annual salary to $1.4 million, with the Securities and Exchange Commission. 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. aimed at increasing competition in the industry. Looking ahead, we are well-positioned to help our clients accelerate their business strategies and drive outcomes, and we are committed to earning their trust every day. The rule clarification requires more than one debit network be available for routing transactions, including online. Bisignano said the financial technology company's new downtown Milwaukee office, which it expects to move into in 2023, will be an innovation center and a destination for Fiserv's clients. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief . Our Employee Resource Groups were instrumental in guiding decisions on where our financial support would create the greatest impact and we donated to more than 180 organizations globally. , 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, Eugene Gologursky / Stringer via Getty Images. Fiserv actually ended up shaving $1.2 billion in half that time, and stopped counting synergies at the end of last year when we hit the $1.2B number, Cave said in an email. Dec 22, 2022 11:02 am. The contract extends Bisignanos term as the Brookfield, Wisconsin-based companys chief executive and president to Dec. 21, 2027. Chairman, President and Chief Executive Officer. 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. Shub Mukherjee - Senior Vice President of Investor Relations. In 2017, the New York Times reported that his compensation exceeded $100 million. Payments giant Fiserv has signed a new five-year employment contract with CEO Frank Bisignano that gives him a 6% salary boost. "Mad Money" host Jim Cramer interviewed Fiserv President and CEO Frank Bisignano on Thursday's episode of the show. The company, like others in payments, is grappling with inflation and currency volatility, and those stressors are squeezing Fiservs profit margins. 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. Let Payments Dive's free newsletter keep you informed, straight from your inbox. In this role he leads the global HR team, responsible for attracting, developing and retaining the talent necessary to achieve the companys goals and in building the high-performance culture necessary for continued domestic and global expansion. He has donated hundreds of thousands of dollars towards Republican campaigns, including a $125,000 contribution to Trump Victory in 2019. Fiserv, a Payments and financial services giant, has named Frank Bisignano as its new chief executive officer (CEO) in an official announcement on Thursday. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief . [18], Bisignano is consistently rated as one of the highest-paid CEOs in the United States. Prior to joining Fiserv, Marin was Chief Executive Officer of Citibank for Brazil, Argentina, Uruguay and Paraguay. The. At First Data, he managed two of the companys publicly reported segments, which included many of the solutions he manages at Fiserv today. 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. Prior to being named Chief Risk Officer she served as Chief Audit Executive at Fiserv, and held the same position at First Data prior to its combination with Fiserv in 2019. 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. 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. The contract, which took effect Dec. 21, 2022, increases Bisignano's annual salary to $1.4 million, according to a filing with the Securities and Exchange Commission. Webinar Fiserv actually ended up shaving $1.2 billion in half that time, and, We said when we were doing that, that we would be a different company,, Yes, we did announce that we were going to relocate people, we were going to have synergies. Let Payments Dive's free newsletter keep you informed, straight from your inbox. Tom attended the U.S. The Fiserv Board of Directors elected Frank Bisignano, President and Chief Executive Officer and a director of Fiserv, as Chairman of the Board. Marin is a Board Member of CTEEP, the largest electricity transmission company in Brazil and Latin America. Andrew earned his MBA at Cornell University and his BA at Oberlin College. At the end of the new agreements five-year period, the employment agreement automatically renews for one-year terms unless either Bisignano or the company seeks to terminate it, according to the contract attached to the filing. | 1 p.m. [22], Last edited on 23 February 2023, at 11:05, "Frank Bisignano Chairman and Chief Executive Officer", "JPMorgan Co-COO Bisignano Departs to Run First Data", "KKR Banks on Bisignano Forging Apple Deal at First Data", "First Data's new CEO Frank Bisignano faces debt burden, needs growth", "Top Lieutenant of Dimon Is Departing JPMorgan", "First Data Names Frank Bisignano Chief Executive Officer", "KKR seeks to make the numbers work at First Data", "First Data Reports First Quarterly Profit in More Than Seven Years", "First Data's new CEO focused on innovation", "Frank J. Bisignano President and Chief Executive Officer", "Peter Thiel's data-mining company is using War on Terror tools to track American citizens. He was appointed Chief Executive Officer of Fiserv in July of 2020 and Chairman of the Board in May of 2022. Could Early Warnings bank wallet have a bigger goal? Still. Horvath, who joined Fiserv in 2017 as Executive Vice President and President, Bank Solutions, is an accomplished business professional with over 20 years of international management experience in enterprise and cloud technologies. This commitment funded our Back2Business program, now in its second year, through which we have already awarded more than 1,400 grants to small, diverse businesses globally and bolstered the entrepreneurial ecosystems that sustain them. Our supplier diversity processes have been enhanced. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. 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. While at First Data, he was Executive Vice President, Head of Corporate and Business Development and Co-Head of Global Financial Solutions. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. 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. Throughout 2021, we continued to enhance our award-winning people platform with programs that support our associates overall health and well-being, including vaccination drives around the world. . Julie Chariell Fiserv headquarters in Brookfield, Wisconsin. Fiserv headquarters in Brookfield, Wisconsin. We continued to use our Fiserv Cares Fund to assist associates who have experienced unexpected financial hardship during the pandemic, and we continued to prioritize professional development for our people, with programming centered on inclusive leadership and the development of diverse top talent within our organization. in Economics from Tufts University. Fiserv is a leading provider in these primary businesses and markets in EMEA, including the U.K., Ireland, Germany, Netherlands, Poland and the Middle East region. He spent 18 years at Citigroup in a number of key executive roles, including Global Head of Mergers and Acquisitions; Head of Global Sales for Transaction Services; and Global Head of the Financial Institutions Group in the Corporate Bank. Fiserv, Inc.+1 414-526-3107 Need help finding the best She also served as a liaison to the Federal Financial Institutions Examination Council (FFIEC). Joanne Sebby is Chief Risk Officer at Fiserv, Inc., overseeing the strategic development and execution of the companys enterprise and operational risk management programs in partnership with the companys business leaders. 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. He also suggested that the reduction was due to some employees exiting because they were unwilling to move to a . The Federal Reserve plans to unleash a U.S. real-time payments systemnext year in the form of FedNow, but its an open question as to whether, or how, consumers and businesses will adoptinstant payments. Andrew Gelb serves as Head of Issuer Solutions at Fiserv, Inc., which provides credit processing and associated solutions to financial institutions, serving more than 1 billion account holders around the world. 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. . julie.chariell@fiserv.com, Fiserv Enters into New Contract with Frank Bisignano, https://www.businesswire.com/news/home/20221221005599/en/. On Thursday, March 2, Frank Bisignano, Chairman, President, and Chief Executive Officer, will present at the Evercore ISI Payments & Fintech Innovators Forum, at 2:00 p.m. Conversations with our clients, our partners and our people move rapidly from idea and what if to the accomplishment of what is. We approach the future with a sense of optimism tempered by the realities of our world today. Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. 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. Subscribe to the Payments Dive free daily newsletter, Subscribe to Payments Dive for top news, trends & analysis. In this role, he drives revenue growth and client retention and satisfaction through the integration and alignment of revenue-related functions across the organization based on a client-first mindset. Bisignano joined Fiserv in 2019 as its president and chief operating officer through Fiserv's $22 billion all-stock acquisition of New York City-based First Data Corp., of which Bisignano. In addition, we continue to invest in and engage with community partnerships. In this role, Horvath is jointly responsible for enabling the success of Fiserv financial institution and fintech clients through the development and delivery of innovative card payment, debit network, digital payment, bill payment, data aggregation, digital banking and account processing solutions. On Thursday, March 2, Frank Bisignano, Chairman, President, and Chief Executive Officer, will present at the Evercore ISI Payments & Fintech Innovators Forum, at 2:00 . Issuer Solutions includes credit and retail card processing, loans processing, customer communications, plastics manufacturing and personalization, commercial payments, and licensed financial software systems. So this is a long-term strategy.. 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.. 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. ", Bisignano said, "I look forward to the ongoing successful execution of our winning strategy, which is already demonstrating strong results and momentum. As Chief Marketing Officer for Fiserv, Inc., Leigh Asher leads brand strategy, corporate communications and creative direction worldwide, as well as oversees market research and marketing technology and operations. 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. Moving forward, we plan to pursue LEED certification (or comparable certifications) for all of our newly occupied and/or renovated office locations, including our new office in New York and new Innovation Center in New Jersey. In this role, Patel is jointly responsible for enabling the success of Fiserv financial institution and fintech clients through the development and delivery of innovative card payment, debit network, digital payment, bill payment, data aggregation, digital banking and account processing solutions. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. We have also further enhanced our sustainability practices to support the growth of our ESG program. 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.. 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. He retired in 2010 as a member of the Senior Executive Service with the U.S. Government. Franks continued leadership enables us to create further value for our shareholders by delivering growth through innovation and discipline., Bisignano said, I look forward to the ongoing successful execution of our winning strategy, which is already demonstrating strong results and momentum. New contract extends term through 2027 and enhances governance features. For the first time since the merger of Fiserv and First Data, Fiserv provided data about its environmental impact through the Carbon Disclosure Project. Our commitment to creating a diverse and inclusive workplace remained strong in 2021 and the results of our efforts speak for themselves. The rule clarification requires more than one debit network be available for routing transactions, including online. [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. The change could present an opportunity for Fiserv, which owns debit networks Star and Accel. The company has maintained that it has about 44,000 employees around the world. Omnichannel commerce, billing and payments solutions for large merchants and corporates, All-in-one systems for merchants to accept payments and manage their business, Platforms and integrated digital banking solutions to drive customer relationships and growth, Platforms and integrated digital solutions to better serve members, Digital banking, payments and solutions at scale for largest institutions, Financial and payments solutions and connectivity that enable technology providers to quickly reach consumers and new markets, Payments and financial solutions for government, education and utilities, Corporate information, values and history, Financial information and shareholder services, Our commitment to governance, social responsibility, the environment and giving back, Our commitment to a positive workplace for all associates, Details around our annual client conference, Don't have a Fiserv.com profile? CEOsof three payments companies share how macroeconomic headwinds are affecting their businesses and how theyre seeing their firms through the uncertainty. So were going to talk to our clients, both on the issuing side and merchant side, and do exactly what they want. | 1 p.m. 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. BisignanoFirst Data CorpFiserv220 Fiserv Yabuk"First DataFrank The company serves clients in more than 100 countries, was named among the World's Most Innovative . Over the course of his career, Wilcox has developed significant expertise with bank and insurance regulatory matters, corporate real estate, intellectual property, procurement, litigation, and mergers and acquisitions. Amid a tougher macroeconomic environment last year, resembling a prior shareholder proposal that had won shareholder approval earlier last year. Rosman is responsible for developing and leading the organizations corporate legal strategy and managing its compliance, ethics and government relations programs. Chairman, President and Chief Executive Officer. 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. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief . He became Chairman of the Board in May of 2022. 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. Bisignano is a long-time supporter of the Republican Party, and Donald Trump in particular. 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. The change could present an opportunity for Fiserv, which owns debit networks Star and Accel. [20] In December of 2022 Bisignano signed a new contract with Fiserv to serve as president and CEO until 2027. The same notice requirement applies when Fiserv establishes a new severance policy that affects such severance cash benefits. His previous contract, which was signed in 2019 and has been amended since then, had an initial term through July 2025, the companys proxy filing said. He joined Fiserv in July 2021. watch now. He is on the advisory board of FutureFuel.io, a leading provider of student loan repayment programs. When asked how Fiservwould adapt in the event of an economic downturn, Bisignano, speaking Monday at Citis 2022 FinTech Conference in New York, touted the resilience and durability of the companys business. Previously, Gelb was Executive Vice President at First Data Corporation since 2014. The company also sold off business units,including its Korea operations and a Costa Rica division. Marino also served as CHRO at Ally Financial, where he was instrumental in the restructuring and turnaround of the nations largest auto finance company. As Head of Global Business Solutions, Suzan Kereere oversees the companys merchant-focused offerings, including the Clover business management platform and Carat enterprise omnichannel commerce platform. Get started 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. Prior to joining First Data, Sebby served as an Audit Manager at Deloitte where she was responsible for audits in multiple industries. In this role, he brings more than 25 years of global banking and financial technology experience to Fiserv and is responsible for the growth of the company in the Asia Pacific region. During his career, Rosman also has served as Senior Vice President and Associate General Counsel at Cablevision Systems Corporation in Bethpage, NY and as a partner at the Washington D.C.-based law firm of Zuckerman Spaeder LLP, where he advised public companies and senior executives on a range of topics, including Sarbanes-Oxley. Its very normal in a merger to be recruiting, while also consolidating,, Webinar Fiserv hired "thousands" of employees globally this year, even as others . When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignanosaid the company knows what levers to pull to manage the expense line., Fiserv CEO Frank Bisignano said this week the payments processing giant is equipped to manage tough times.. 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. 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. Its very normal in a merger to be recruiting, while also consolidating,Bisignano said.