Frank Bisignano
Frank J. Bisignano | |
|---|---|
| Born | August 9, 1959 Brooklyn, New York, U.S. |
| Occupation(s) | Business executive, government official |
| Years active | 1980s–present |
| Known for | Commissioner of the Social Security Administration, CEO of Fiserv and First Data, COO of JPMorgan Chase |
Frank J. Bisignano (born August 9, 1959) is a prominent American executive currently serving as the 18th commissioner of the Social Security Administration. His past leadership roles include president and CEO of Fiserv, CEO of First Data, and COO of JPMorgan Chase. In 2017, Bisignano ranked among the top-earning CEOs in the United States, with reported compensation exceeding $100 million.
In December 2024, then president-elect Donald Trump put forward Bisignano’s nomination for the Social Security Administration commissioner position. After a temporary withdrawal followed by reinstatement of his nomination, the Senate approved his appointment on May 6, 2025. He officially assumed office on May 7, 2025.
Early life and career
Born to Italian immigrant parents, Bisignano was raised in Brooklyn, New York. He pursued higher education at Baker University and earned his degree from Newport University in California. His professional journey began in New York City, where he held vice presidential roles at Shearson Lehman Brothers and First Fidelity Bank. From 1994 onward, he occupied senior executive positions at Citigroup, overseeing its global transaction services division.
In recognition of his influence in finance, Treasury and Risk listed him among the "100 most influential people in finance" in 2004. Joining JPMorgan Chase as Chief Administrative Officer in 2005, Bisignano was tasked by CEO Jamie Dimon with integrating Bear Stearns and Washington Mutual amid the financial crisis. He also managed JPMorgan’s mortgage banking operations and led negotiations for acquiring the Canary Wharf property in London. Elevated to co-chief operating officer in 2012, he was described by the Financial Times as one of JPMorgan’s most powerful yet discreet executives.
Bisignano took on the role of chairman and CEO at First Data Corporation in 2013, spearheading a technological overhaul that included collaborating with Apple Inc. on Apple Pay. His board memberships include organizations such as Continuum Health Partners and the Metro Atlanta Chamber of Commerce. Following Fiserv’s acquisition of First Data in 2019, he was appointed Fiserv CEO in July 2020.
Throughout his career, Bisignano has consistently ranked among America’s highest-paid CEOs, with earnings surpassing $100 million in 2017 and approximately $40 million in 2019. In December 2022, he extended his tenure at Fiserv through 2027. His total remuneration for 2023 amounted to $27.9 million, reflecting a compensation ratio of 380-to-1 compared to median employee pay.
During his stewardship of First Data and Fiserv, numerous branch closures occurred, leading to thousands of job cuts. Employees working remotely during the COVID-19 pandemic were notably impacted at higher rates. Bisignano faced criticism over elevated turnover rates and declining stock performance during his leadership, with opposition figures questioning his adaptability and empathy prior to his government appointment.
Social Security Administration
President-elect Donald Trump nominated Bisignano for commissioner of the Social Security Administration in December 2024. After briefly withdrawing and then reinstating his nomination, the Senate Finance Committee convened a hearing on March 25, 2025, to evaluate his credentials. The Senate confirmed him on May 6, 2025, along party lines with a vote of 53–47; he was sworn into office the following day.
Concerns were voiced regarding Bisignano’s management style at Fiserv—characterized by a strict hire-and-fire policy—and its potential implications for his leadership at the SSA. Shortly after his appointment, he remarked that he initially searched “Social Security” online to familiarize himself with the agency’s functions—a comment that attracted political criticism but was subsequently explained as a joke by an SSA spokesperson.
Politics
Bisignano has consistently backed the Republican Party over the years, contributing several hundred thousand dollars to various Republican campaigns, including a $125,000 donation to Trump Victory in 2019.
In October 2024, his spouse, Tracy Bisignano, made a significant contribution of $924,600 to the Trump 47 Committee, Inc.