First Data Names New Chief Executive Officer

The Board of Directors of First Data Corporation, a global leader in electronic commerce and payment processing, announced that Frank Bisignano has been named chief executive officer (CEO), effective April 29, 2013. He will also join the First Data board of directors concurrent with his appointment.

Prior to the appointment, Bisignano most recently served as Co-Chief Operating Officer of JP Morgan Chase &Co. , 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.

Prior to JPMorgan Chase, Bisignano was the chief executive officer for Citigroup’s Global Transactions Services business and a member of Citigroup’s Management Committee. Under his leadership (from 2002–2005), Global Transaction Services’ revenue grew to $6 billion from $4 billion annually.