Frank Bisignano Biography
Frank Bisignano is the nominee for Commissioner of the Social Security Administration (SSA). He serves as Chairman, President and Chief Executive Officer of Fiserv, a global leader in financial services and payments technology solutions.
In 2023, he was the highest-paid CEO among Wisconsin’s 25 largest public companies, earning close to $28 million. He was also one of the highest paid chief executive in American business in 2007 earning $13.7.
Frank Bisignano Age, Early Life, Family
Bisignano was born in 1959 in New York to his Italian immigrants parents. He is the son of the late Albert H. Bisignano who died in 2004 and Anna Rutigliano Bisignano who died in 1998. His father worked as a U.S. Customs Agent in Port Newark for 45 years before retiring in 1991. His mother began as a bookkeeper at a stevedoring outfit and rose to run the whole waterfront operation. He was brought up alongside his sister Elvira McGuire.
Frank Has an Education Background on Business
Bisignano holds a Finance degree from Baker University, a liberal arts institution in Kansas. During his time there, he achieved All-American honors as a member of the bowling team.
Is Frank Bisignano Married?
Frank is married to Tracy Bisignano, who donated $1 million to Trump’s campaign. He was previously married to Nancy A. Bisignano. He is the father of three children; two Morgan Bisignano and Alexa Bisignano from his first marriage and Henry Bisignano from his second marriage.
Frank Bisignano Career
Franks is the Chairman, President and Chief Executive Officer of Fiserv. He joined the company in 2019 as the President and Chief Operating Officer before becoming Chief Executive Officer in July 2020 and Chairman of the Board in May 2022.
He previously served as Chairman and Chief Executive Officer of First Data Corporation since 2013 until he left in 2019. While there, he transformed the company from m 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 grow their business.
In June 2014, the company announced a historic private placement of $3.5 billion of equity in the company which preceded the company’s $2.6 billion initial public offering in October 2015, the largest U.S. IPO of the year.
Prior to joining First Data, he was the Co-Chief Operating Officer for JPMorgan Chase and the CEO of Mortgage Banking at JPMorgan Chase. During his tenure, the Mortgage Banking unit reported 2012 net income of $3.3 billion which was a turnaround compared with a net loss of $2.1 billion in 2011.
In addition, he has served in multiple leadership positions at Citigroup, including Chief Administrative Officer and Chief Executive Officer of the company’s Global Transaction Services unit.
He began his career at Travelers where he run operations at Smith Barney. In 1998, Travelers bought Citigroup which saw Bisignano rise to head IT and purchasing, directing a workforce that comprised most of the 17,000 employees situated in lower Manhattan.
Frank Serves on several Boards
Bisignano serves on the boards of the Partnership for New York City, the
National September 11 Memorial and Museum, the Institute for Veterans and Military Families, the Mount Sinai Health System, the Battery Conservancy and St. Patrick’s Cathedral.
He 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.
Frank Bisignano Achievements
Under his leadership, Fiserv leads the IDC FinTech Top 100 ranking of global financial technology providers, and has been recognized as one of Fortune® World’s Most Admired Companies™ for ten of the last 11 years.
During his tenure at First Data, he transformed the company from the world’s largest traditional payment processor into a technology innovator, industry collaborator, and commerce enabler for the 21st century. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year.
He also helped create seven new employee resource groups at First Data, earning the company a roster of accolades for its efforts, ranging from veterans’ groups to the lesbian, gay, bisexual and transgender (LGBT) community.
He rebuilt Citigroup’s decimated back-office operations from the ashes of 9/11, repaired Washington Mutual’s stricken subprime book after the 2007 housing meltdown as Jamie Dimon’s fixer at JPMorgan Chase, and transformed a lumbering warhorse that was one of the worst investments KKR ever made into a potent money spinner that he merged into Fiserv, then drove the combo to reign as America’s largest non-bank handler of credit card payments to retailers, restaurants and other merchants, ferrying $2.5 trillion in payments per day.
During his time at Citigroup, he managed Citigroup’s successful business continuity plan, which involved relocating 16,000 employees displaced by 9/11.
Frank Bisignano Social Security
On Dec.4, 2024, President Donald Trump nominated Frank to be the commissioner of the Social Security Administration. He praised him on his track record to transforming large corporations. Frank said that if confirmed he was going to fix SSA. “I have no objective to cut benefits for any American, I’m going to fix it by doing other things. I hope you guys root for me to do that in the way I did other turnarounds.”
Retirees have no confidence with Frank Bisignano to lead SSA.
Richard Fiesta, Executive Director of the Alliance for Retired Americans released a statement following Frank’s nomination, alleging that Frank’s career on Wall Street doesn’t suggest he understands the unique needs of older and disabled Americans. He raised concerns that his career “on Wall Street will leave SSA with a cheerleader for risky schemes like allowing investment firms and crypto corporations to gamble with the trust funds and benefits that Americans paid for and earned through a lifetime of work.”
He suggested that there is a need for a commissioner who will always put the interests of beneficiaries first.
Bisignano is an Advocate for Veterans
Bisignano is an advocate for employment initiatives for veterans and military spouses. While at JPMorgan Chase, he foundered 100,000 Jobs Mission. While at First Data through the First Data Salutes program, strong proponent of diversity, Bisignano also helped create affinity groups to provide networking and support for African Americans, women, and the LGBT community at First Data.
Frank is a Political Donor
In November 2023, he donated $15,000 to Chris Christie, a Republican former governor of New Jersey who ran on an anti-Trump bid but later dropped out of the race. His wife , Tracy Bisignano had however donated nearly $1 million to Trump’s campaign in October according to federal campaign finance report.
According to Federal Election Commission, in 2024 he contibuted to Miriam L Flisser for Senate, Pete Ricketts for Senate and Victory Fund. In 2023 he contributed to Tammy Murphy for Senate, McCaul for Congress. In 2022, he contributed to Kevin McCarthy for Congress and victory fund. He also contributed to Dave McCormick for US Senate as well as Lasry for Wisconsin. In 2021, he contributed to Josh Gottheimer for Congress, Lasry for Wisconsin, Mark Kelly for Senate as well as Chuck Schumer.
Frank Bisignano Accolades
In 2010, Bisignano was awarded Syracuse University’s Chancellor’s Medal for Outstanding Achievement for his innovation in technology and education.
In 2012,he received accolades for his work leading the Martin Luther King, Jr. Papers Project, which digitized hundreds of thousands of documents of Martin Luther King and other civil rights leaders.
In 2014, he received the Colonel Michael Endres Leadership Award for Individual Excellence in Veteran Employment from the U.S. Chamber of Commerce.
He was honored by the New York Institute of Technology in May 2014 with a Doctor of Commercial Science degree for his achievements in business and his philanthropic endeavors.
In 2017, Syracuse University bestowed him with an Honorary Doctorate of Law degree for his distinguished business career and his work in championing higher education and supporting the disadvantaged.