“First Data has an impressive customer-centric business and I look forward to joining the team and building on our strong partnerships with customers,” said Frank Bisignano. “New technological advances are impacting the payments industry every day, making life easier for our partners, our merchants and consumers. First Data can and should lead the way when it comes to offering the most innovative solutions and service.”
Prior to the appointment, Bisignano most recently served as Co-Chief Operating Officer of JP Morgan Chase &Co. (“JPMorgan Chase”), one of the largest providers of banking, lending, treasury, wealth management and investment services that serves 50 million customers, including consumers, small businesses, mid-size companies, corporations, financial institutions, nonprofits and governments. In this role, his responsibilities included overseeing global technology, real estate, operations, procurement, compliance, regulatory control and oversight, resiliency, security and safety, and general services for all of JPMorgan Chase’s businesses in over 60 countries. He also served on the executive and operating committees of JP Morgan Chase.
Bisignano succeeds Ed Labry who has been serving a dual role as both president of Retail and Alliance Services and Interim CEO since Jan. 28, 2013. Labry will continue in his role as president of Retail and Alliance Services.
“Ed has done an outstanding job, and we are grateful to him for his leadership, his long-tenure at First Data and his willingness to step in to the interim role. In addition to his managing one of the company’s largest businesses, we will continue to rely on Ed for support during the transition and as a culture carrier at First Data,” Forehand said.
“It’s been an honor to have led our great team during this period. I look forward to working with Frank to grow First Data into an even stronger enterprise than it is today,” said Ed Labry, First Data interim CEO and president, Retail and Alliance Services.
