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. FISERV INC [ FISV] 5. Chiarello has been recognized multiple times by Institutional Investor magazine among its Top Tech 50 and by Information Week as a Global CIO Top 50, was a NASSCOM CIO of the Year and is considered a key advisor by many leading Silicon Valley companies and technology CEOs in the industry. Our people platform, including diversity and inclusion, and the health and safety of our people, clients and communities, has remained at the top of our CSR and ESG agenda. Frank Bisignano is Chairman, President and Chief Executive Officer of Fiserv, Inc. (NASDAQ: FISV), a global leader in financial services and payments technology solutions. 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. Subscribe to the Payments Dive free daily newsletter, Subscribe to Payments Dive for top news, trends & analysis. The Fiserv Board of Directors elected Frank Bisignano, President and Chief Executive Officer and a director of Fiserv, as Chairman of the Board. Franks continued leadership enables us to create further value for our shareholders.. John Gibbons serves as Head of the Europe, Middle East, and Africa (EMEA) region at Fiserv, Inc. 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. Thu, Aug 19 2021 7:22 PM EDT. Under the new contract, Bisignano also receives a target annual incentive of at least $2.5 million, equity awards, use of the companys aircraft for personal travel and a company car and driver, among other benefits. Previously, Rosman was General Counsel of OneMain Financial, one of Americas largest consumer lenders, where he oversaw legal, compliance, government relations and audit. I think its about investment strategy in our business, he said. Keep up with the story. Previously, his base salary was $1.32 million, according to the companys 2022 proxy filing. We said when we were doing that, that we would be a different company, Bisignano said. Consumer spending remains strong, and Fiservs bank and merchant customers continue to show consistent demand for digital products, the CEO said, noting about 85% of the companys revenue is recurring in nature. Our people donated their time and nearly $1 million through our Fiserv Gives Back program, supporting more than 2,000 causes during the year. BROOKFIELD, Wis., December 21, 2022--(BUSINESS WIRE)--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. We consolidated our data center footprint as well as redundant office locations. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief . 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. Marin is a Board Member of CTEEP, the largest electricity transmission company in Brazil and Latin America. 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. But even as Fiserv made cuts,the company hired thousands of workers last year, Bisignano told Payments Dive during a recent interview. His HR career also includes roles at two "academy" companies long known for human resources best practices, Honeywell International (formerly AlliedSignal) and Pepsi. 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? Prior to the combination of Fiserv and First Data Corporation, Chiarello was the President of First Data Corporation, a global leader in commerce-enabling technology. Chiarello has been at the forefront of banking, technology, and innovation for more than 30 years. 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. 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 during a webcast of his appearance. The contract extends Bisignanos term as the Brookfield, Wisconsin-based companys chief executive and president to Dec. 21, 2027. We expanded our Scope 3 GHG emissions reporting to include categories beyond business travel. He has also served as the CIO of Morgan Stanley, where he began his career in financial services. 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. 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. Google Maps. Payments giant Fiserv has signed a new five-year employment contract with CEO Frank Bisignano that gives him a 6% salary boost. Wilcox received his undergraduate degree from Duke University and his Juris Doctor degree from the Georgetown University Law Center. this year while grappling with profit margin pressure. Mr. Yabuki is doing nothing visible to preserve this company. 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. 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. 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.". Prior to joining Fiserv, he served as CHRO with First Data. Investor Relations: 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 . [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. She holds an M.B.A. from Columbia Business School and a B.A. aimed at increasing competition in the industry. Palantir is desperate for new customers", "Fiserv COO Frank Bisignano's 2019 pay jumps 232% to $40M", "Fiserv Enters into New Contract with Frank Bisignano", Video of Bisignano on CNBC in February 2014, discussing First Data's partnership with VISA, https://en.wikipedia.org/w/index.php?title=Frank_Bisignano&oldid=1141106138, This page was last edited on 23 February 2023, at 11:05. Fiserv, a Payments and financial services giant, has named Frank Bisignano as its new chief executive officer (CEO) in an official announcement on Thursday. He explained how the company has had to target cost control in the past, particularly after its 2019 merger with First Data. Christopher (Chris) M. Foskett is Chief Revenue Officer at Fiserv, Inc. Our global business serves clients in more than 100 countries, and enables more than 10,000 financial institutions and more than 6 million merchant locations every year. Frank Bisignano President and Chief Executive Officer Meet our leadership team The way money moves Fiserv enables money movement for thousands of financial institutions and millions of people and businesses - for a world that never powers down Nearly 6M merchant locations globally 1.4B global accounts on file 12,000 financial transactions Previously, Foskett served as Executive Vice President and Chief Sales Officer of Fiserv after the merger with First Data Corporation. We have a very resilient business model, Bisignano asserted, pointing to services the company provides to restaurants, gas stations and grocery stores, as well as the key services it provides to bank clients. [19] His compensation was rated at approximately $40 million in 2019. He is a U.S. Navy veteran and serves on a number of charitable boards to include the CIA Officers Memorial Foundation, OSS Society, Business Executives for National Security, the Intrepid Sea, Air and Space Museum, USO of Greater New York, Meridian International Center, Wilson Center, and the Tug McGraw Foundation. Guy Chiarello is Chief Operating Officer at Fiserv, Inc., overseeing the companys technology and operations with a focus on elevating the client experience, creating a high-performance workplace and supporting the companys future growth. Gibbons joined the company in December 2018 from Deutsche Bank, where he led Global Transaction Banking. Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. When asked about employee cuts the company has made this year, Bisignano said they werent in response to this years pressures. Investor Relations We dont need to deviate from our strategy, Bisignano said. Bisignano will also continue to serve as Chairman of the Board. ", Bisignano said, "I look forward to the ongoing successful execution of our winning strategy, which is already demonstrating strong results and momentum. He was previously Executive Vice President, Group General Counsel for Willis Group Holdings, responsible for legal, corporate secretary, compliance, and audit and risk management. "[4], Hired as CAO of JPMorgan Chase in 2005, CEO Jamie Dimon "trusted him with integrating the banks purchases of a foundering Bear Stearns Cos. and bankrupt Washington Mutual Inc. during the crisis. Frank J. Bisignano (born August 9, 1959) . 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. As Chief Audit Executive, Sebby oversaw a team providing independent, risk-based, and objective assurance and consulting activities to add value and improve the companys operations. Fiserv has a bunch of discretionary spend, he said, and executives know how to manage expenses very, very well.. I think its about investment strategy in our business, he said. julie.chariell@fiserv.com, Fiserv Enters into New Contract with Frank Bisignano, https://www.businesswire.com/news/home/20221221005599/en/. 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. Sen. Dick Durbin is poised to make good on his long-time threat to further rein in the two big U.S. credit card companies Visa and Mastercard with legislation aimed at increasing competition. Cave has also declined to specify the number of employees that have been cut this year, other than to say Fiserv has made staffing adjustments that affect a small percentage of its global workforce. Prior to joining Fiserv, Wilcox served as interim General Counsel and Chief Legal Officer at USAA, providing strategic counsel and legal advice to the CEO, Board of Directors and Executive Council. Saturday, February 26th, Syracuse University honored Fiserv President and CEO and proud Syracuse parent Frank Bisignano, along with his wife Tracy and other family members, including Sam '11 and Morgan Lituchy '11, with the unveiling of the Bisignano Grand Hall and the Bisignano Family Programs and Services Wing at the National Veterans Resource Center (NVRC) at the Daniel and Gayle D . Phil Murphy and Fiserv CEO Frank Bisignano will hold a ceremony Thursday morning in Berkeley Heights, welcoming the company and approximately 2,000 new high-paying, high-tech jobs to the state. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. The company serves clients in more than 100 countries, is one of Fortune World's Most Admired Companies . 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. ET, Presented by studioID and Dun and Bradstreet, Fiserv divestiture hints at strategy shift, Fiserv sheds Korea unit, plans move to Milwaukee, FedNow chases real-time payments front-runners, 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. Bisignano . "[3] In 2004 the publication Treasury and Risk named him one of the "100 most influential people in finance. We also extended our partnership with the Institute for Veterans and Military Families at Syracuse University and were again named to the Military Times Best for Vets Employer List and recognized as a 5-Star Employer by VETS Indexes. Gibbons is a graduate of the University of Connecticut and is a dual citizen of both the United States and the U.K. Robert (Bob) Hau is Chief Financial Officerat Fiserv, Inc., and provides oversight for all financial functions of the company. 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. . As part of this commitment to transparency, this CSR report is aligned with the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI) reporting standards. Previously, his base salary was $1.32 million, according to the company's 2022 proxy filing. Chairman, President and Chief Executive Officer. CEOsof three payments companies share how macroeconomic headwinds are affecting their businesses and how theyre seeing their firms through the uncertainty. Subscribe to the Payments Dive free daily newsletter, Subscribe to Payments Dive for top news, trends & analysis. Bisignano, 63, is also the companys board chairman. 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. I am proud of the steps we have taken to advance our ESG program this year. Webinar Fiserv, Inc.+1 414-526-3107 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 responsible for the Fiserv portfolio of client engagement platforms, such as the companys annual Forum client conference, and was instrumental in establishing a multi-year naming rights agreement for Fiserv Forum, a state-of-the-art sports and entertainment venue in Milwaukee. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. He is a member of the Board of Directors for Finxact, Apiture and Verisk Analytics (VRSK), which he serves as Lead Independent Director. 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. Kereere serves as a non-executive Director on the board of Grange Insurance Company and has previously served on the boards of the National Retail Federation Foundation and the American Red Cross (New York). 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. 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. Previously, his base salary was $1.32 million, according to the companys. Issuer Solutions includes credit and retail card processing, loans processing, customer communications, plastics manufacturing and personalization, commercial payments, and licensed financial software systems. His background also includes serving as Assistant U.S. Attorney and Deputy Staff Secretary to President Bill Clinton from 2000 to 2001. Last updated on December 23rd, 2022 at 01:32 pmFrank Bisignano has signed a new contract that will keep him as the chief executive officer of Fiserv Inc . 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. 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. BROOKFIELD, Wis., March 03, 2022--The Fiserv Board of Directors elected Frank Bisignano, President and Chief Executive Officer and a director of Fiserv, as Chairman of the Board. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. And that should be worth more than zero., He acknowledged the move creates a bunch of opportunity, both on the issuing side and on the merchant side., Get the free daily newsletter read by industry experts. View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005599/en/, Media Relations: Britt ZarlingCorporate CommunicationsFiserv, Inc.+1 414-526-3107britt.zarling@fiserv.com Investor Relations: Julie Chariell Investor RelationsFiserv, Inc.+1 212-515-0278julie.chariell@fiserv.com, https://www.businesswire.com/news/home/20221221005599/en/. 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. Kereere leverages her extensive experience leading payments and technology businesses to deliver excellence for clients ranging from small and mid-sized companies to global enterprises. 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. Adam Rosman is Chief Administrative Officer and Chief Legal Officer at Fiserv, Inc., leading legal, compliance, ethics, and government relations. New contract extends term through 2027 and enhances governance features. Want to share a company announcement with your peers? He became Chairman of the Board in May of 2022. BROOKFIELD, Wis.-(BUSINESS WIRE)-Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced its participation in the following investor conferences. 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 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, Ilya S. Savenok / Stringer via Getty Images. Issuer Name and: Ticker or Trading Symbol . Get started Our commitment to creating a diverse and inclusive workplace remained strong in 2021 and the results of our efforts speak for themselves. He ruined First Data, destroyed all the culture and kept technologies in the stone ages and is now doing it with Fiserv. 01:36. 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. Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief . Amid a tougher macroeconomic environment last year, resembling a prior shareholder proposal that had won shareholder approval earlier last year. He has led product development and technology for three Fortune 500 companies and is recognized as a leader in the technology industry. We have clear lines of responsibility from our Board of Directors and the Nominating and Corporate Governance Committee to our Management Committee to our Corporate Social Responsibility Committee, which is responsible for day-to-day management of our CSR agenda and ESG strategy. [20] In December of 2022 Bisignano signed a new contract with Fiserv to serve as president and CEO until 2027. The contract, which took effect Dec. 21, 2022, increases Bisignanos annual salary to $1.4 million, with the Securities and Exchange Commission. The contract extends Bisignanos term as the Brookfield, Wisconsin-based companys chief executive and president to Dec. 21, 2027. watch now. 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. 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. He also suggested that the reduction was due to some employees exiting because they were unwilling to move to a . | 1 p.m. Prior to Deutsche Bank, he was at JPMorgan Chase & Co., serving as Regional Executive for EMEA and as JPMorgans Global Head of Banks and Broker Dealers for Treasury Services. 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..