Michael P. Lyons To Succeed Frank Bisignano At Fiserv
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Payment company Fiserv said Michael P. Lyons will be the next Chief Executive Officer, replacing Frank Bisignano. Bisignano was chosen by President Donald Trump to lead the Social Security Administration last month.
Lyons, who is now the president of PNC Financial Services Group, will resume as Fiserv’s president and Chief Executive Officer-in-training on January 27. Fiserv shared this news in a statement.
Fiserv Prepares Leadership Transition With Lyons As Incoming Chief Executive Officer
Bisignano will stay as the boss of Fiserv until June 30 or leave sooner if the U.S. Senate picks him for a new job. Until then, Lyons will work with Bisignano and later become the boss and join the board when Bisignano leaves.
Lyons has been the president of PNC since February 2024, according to LinkedIn. Before that, he led PNC’s corporate banking for 12 years. Before joining PNC in 2011, he worked at Bank of America, where he helped plan deals.
At Bank of America, Lyons helped PNC buy BBVA USA, a bank in Houston. Fiserv said Lyons has worked in finance for 30 years.
President Trump said on December 4 that he wants Bisignano for the Social Security job. Fiserv said it already had a plan for a new boss. Bisignano became Fiserv’s boss in 2020. Before that, he was the boss of First Data, which Fiserv bought in 2019. He became chairman of Fiserv in 2022. Before, he worked at JPMorgan Chase and became a top leader in 2012.
Analysts Support Lyons’ Appointment As Fiserv Focuses On Growth And Innovation
Experts said Fiserv made a smart choice. Andrew Bauch from Wells Fargo said Lyons is good at making deals, which is important for Fiserv. Some people wonder if Lyons can move from banking to tech, but he has a strong team to help him.
David Koning from Baird said Lyons is a good choice because he knows banks and leads well. Bryan Bergin from TD Cowen called it “a surprise” because Lyons is not from inside Fiserv. However, this shows Fiserv cares about banks and better money tools.
Doyle Simons, a leader at Fiserv, said the company wanted someone with big ideas and experience. Lyons said he knows Fiserv well and is happy to help it grow more.
Fiserv is a global company based in Milwaukee, Wisconsin. It provides financial technology and services to a wide range of clients in the financial industry, including banks, savings institutions, securities firms, and credit unions. Its services also support mortgage lenders, leasing companies, insurance providers, finance companies, and retailers.
