Chairman and Chief Executive Officer
First Data Corporation
An admired leader in the global financial services industry, Frank Bisignano joined First Data Corporation as Chief Executive Officer in 2013 and added the title of Chairman of the Board in 2014.
Upon his arrival at First Data, Bisignano began to rapidly transform the 43-year-old company from its position as the world’s largest traditional payment processor into a technology innovator for the 21st Century, bringing an array of new products and services designed to help enterprises large and small – millions of clients among merchants and financial institutions – grow their business.
Immediately upon taking office, Bisignano launched an equity ownership plan that turned First Data's 24,000 employees into shareholders. He then unveiled Clover Station, a revolutionary new system designed for small- and mid-sized businesses to track inventory, manage employees, build lasting customer relationships and accept payments with ease. He also partnered with or acquired leading technology start ups to further strengthen First Data’s portfolio of cutting-edge solutions and services.
In June, 2014, First Data announced an historic private placement of $3.5 billion of equity in the company, ratifying the transformation begun under Bisignano’s leadership. By the end of Bisignano’s first year on the job, he had positioned First Data as a classic business turnaround story with a business model touching all corners of the payments ecosystem that drives the global economy.
First Data, under Bisignano, enables electronic payments around the world, two thousand times a second, for more than 6 million merchant locations, over 3,500 card issuers and millions of consumers. As the global payments industry leader, First Data provides its clients with the tools they need to thrive in today’s fast-changing world. In 2013, the company processed more than 59 billion electronic transactions worldwide representing $1.8 trillion in transaction volume. Headquartered in Atlanta, First Data operates in 35 countries spanning the globe. The company’s 2013 consolidated revenue was $10.8 billion.
Prior to joining First Data, Bisignano was the Co-Chief Operating Officer for JPMorgan Chase and the CEO of Mortgage Banking at JP Morgan Chase. Under Bisignano’s leadership, the Mortgage Banking unit reported 2012 net income of $3.3 billion, another impressive turnaround compared with a net loss of $2.1 billion in 2011. As Co-Chief Operating Officer, Bisignano's responsibilities included overseeing global technology, real estate, operations, procurement, compliance, regulatory control and oversight, resiliency, security and safety, and general services for all of JP Morgan Chase's businesses in over 60 countries.
Earlier in his career, Bisignano was the chief executive officer for Citigroup's Global Transactions Services business and a member of Citigroup's Management Committee. Under his leadership, from 2002–2005, his unit’s revenue grew to $6 billion from $4 billion annually, with bottom line performance swinging from a net income loss of $400 million to a profit in excess of $1 billion during his tenure.
Bisignano served between 2002 and 2004 as the Chief Administrative Officer for Citigroup's Corporate and Investment Bank and Citigroup's firm-wide deputy head of technology and operations, a post he held during 9/11, when he managed Citigroup's successful business continuity plan, which involved relocating 16,000 employees displaced by the loss of 1.3 million square feet when the 7 World Trade Center building was destroyed.
Bisignano played a key role in a series of historic transactions at Citi as he took on positions of increasing leadership at the bank, which he joined in 1994. These deals included the merger of Citicorp and Travelers and the acquisitions of Salomon-Smith Barney and Primerica Financial Services, among others.
Prior to Citi, Bisignano worked at First Fidelity Bank from 1990 to 1994, where he was an executive vice president overseeing technology and operations, and later served as chief consumer lending officer. At First Fidelity, Bisignano earned a reputation for skillfully managing complex mergers and integrations, overseeing 13 acquisitions into the business and consolidating eight banks into one.
Throughout his career, Bisignano has worked to bring new career opportunities to men and women who served their nation in uniform. While at JP Morgan Chase, he was a founder of the 100,000 Jobs Mission, an original coalition of 11 companies that since grown to a roster of 170 firms, hiring 161,752 veterans collectively as of June 2014. Bisignano’s commitment to veterans has continued at First Data, where First Data Salutes provides a wide array of opportunities and support for returning military and their families.
A strong supporter of diversity, Bisignano also helped create affinity groups to provide networking and support for both women and the lesbian, gay, bisexual and transgender (LGBT) community at First Data.
Born and raised in Brooklyn, New York, Bisignano serves on the board of the National September 11 Memorial and Museum, on the Board of Trustees of the Mount Sinai Health System, and is also a trustee for the Battery Conservancy and St. Patrick’s Cathedral. Bisignano was previously vice chairman of the Options Clearing Corporation and a board member for the Depository Trust and Clearing Corporation, the Alliance for Downtown New York, the Lower Manhattan Cultural Council and PENCIL. He also is a member of the Board of Directors for the Atlanta Metro Chamber of Commerce and The Commerce Club of Atlanta.
Bisignano was awarded Syracuse University’s Chancellor's Medal for Outstanding Achievement in 2010 for his innovation in technology & education.The New York Institute of Technology (NYIT) honored Bisignano in May 2014 with a Doctor of Commercial Science degree in recognition of both his achievements in the business world and his philanthropic endeavors.
Frank is the father of three: Morgan, Alexa, and Henry. He and his wife Tracy reside in New Jersey.