More Than 68 Million Americans Rely on Social Security
In December, President Trump named Fiserv president and CEO Frank Bisignano as his nominee for commissioner of the Social Security Administration. If confirmed by the Senate, Mr. Bisignano will head up an agency with 60,000 employees, 10 regional offices and 1,230 field offices.
The nomination was referred to the Senate Committee on Finance this past Monday, January 20th.
So just who is this man that’s set to play such a critical role in our retirement security? Let’s take a closer look…
Early Years and Education
Frank J. Bisignano — the son of Italian immigrants — was born in 1959 in New York City. Raised in the working-class Mill Basin neighborhood of Brooklyn, he studied finance at Baker University, a liberal arts institution in Kansas. During his time there, he achieved All-American honors as a member of the bowling team. Mr. Bisignano holds honorary doctorate degrees from Howard University, the New York Institute of Technology, St. Thomas Aquinas College and Syracuse University.
Career Overview
Mr. Bisignano started his career as a VP of both Shearson Lehman Brothers and First Fidelity Bank. Later, as Chief Administrative Officer and CEO of JPMorgan’s Mortgage Banking division, he oversaw critical operational improvements and navigated the organization through the challenging financial landscape following the 2008 financial crisis. His ability to address complex problems with strategic precision and his emphasis on technology-driven solutions laid the groundwork for his future leadership roles.
In 2013, Mr. Bisignano became CEO of First Data Corporation, a global leader in payment technology and services. During his tenure, he steered the company through a significant transformation, focusing on client-centric solutions and operational excellence. His efforts culminated in First Data’s successful public offering in 2015, one of the largest IPOs in the tech sector that year.
Mr. Bisignano’s leadership and vision came to broader prominence in 2019 when First Data merged with Fiserv in a $22 billion deal. This merger created a powerhouse in financial services technology, with Bisignano serving as Fiserv’s President. He later assumed the role of CEO in 2020 and Chairman in 2022, cementing his influence on the company’s strategic direction.
Leadership Philosophy
Central to Bisignano’s leadership philosophy is a focus on innovation, talent development and client success. He has consistently emphasized the importance of technology in enabling financial institutions to meet the evolving demands of consumers and businesses. Under his leadership, Fiserv has expanded its suite of digital solutions, focusing on payments, merchant services and financial institution technology.
One of Bisignano’s hallmark strategies has been his ability to integrate new technologies seamlessly into established business models. By investing in cloud-based platforms, artificial intelligence and machine learning, Fiserv has remained at the forefront of the rapidly evolving financial technology landscape.
His leadership style is also characterized by an unwavering commitment to fostering a collaborative and inclusive workplace culture. Bisignano has emphasized the importance of attracting and retaining top talent, noting that innovation stems from diverse perspectives and a shared commitment to organizational goals.
Family and Philanthropy
A noted philanthropist, Mr. Bisignano has a long history of support for veteran’s programs. Said Syracuse University Chancellor Kent Syverud at a 2022 ceremony: “He [Mr. Bisignano] has spent his lifetime supporting veterans and the military, both philanthropically and personally. His generosity has had a transformative impact at Syracuse University, among veterans and on our whole country.”
In August 2020, Mr. Bisignano led Fiserv to launch a Back2Business program that committed $10 million help black- and minority-owned small businesses struggling through the COVID-19 pandemic.
Among his numerous non-profit commitments, Mr. Bisignano serves on the boards of the National September 11 Memorial and Museum, the Mount Sinai Health System and The Battery Conservancy of New York. He is also a member of the Business Roundtable, a U.S.-based association of CEOs who use public policy to promote a thriving economy and expanded opportunities for Americans.
Mr. Bisignano and his wife Tracy have three children, and currently live in New Jersey.
In the Words of Our President
In announcing Mr. Biosignano’s nomination, President Trump had this to say: “Frank is a business leader, with a tremendous track record of transforming large corporations. He will be responsible to deliver on the Agency’s commitment to the American People for generations to come.”
By Steven Robertson
