Fiserv names former First Data boss Bisignano CEO

Bisignano joined Fiserv as president and COO following the firm's $22 billion takeover of First Data last year.

He will become CEO on 1 July, succeeding Yabuki, a 15-year Fiserv veteran who will serve as executive chairman through the end of the year.

Says Yabuki: "With the successful integration of First Data well underway, this is the right time for Frank to lead the next phase of the company’s evolution.

"Frank and I have had the pleasure of working closely over the past 18 months - and I am highly confident he brings the skill and experience to deliver the leadership that is needed today, while building for tomorrow."

Bisignano, a former JPMorgan Chase co-COO, takes over one of the biggest players in financial services technology and payments, and a team of 44,00 employees.

Fiserv has also reported its first quarter results, with the First Data deal meaning that revenue increased 151% to $3.77 billion. GAAP earnings per share was $0.57, increasing two per cent compared to the prior year period.

Meanwhile, the firm is withdrawing its full year financial outlook due to the economic uncertainties associated with Covid-19.