Frank Bisignano joined First Data Corporation as Chief Executive Officer in 2013 and added the title of Chairman of the Board in 2014.
Upon his arrival at First Data, Frank began to rapidly transform the 43-year-old company from its position as the world’s largest traditional payment processor into a technology innovator for the 21st Century, bringing an array of new products and services designed to help enterprises large and small – millions of clients among merchants and financial institutions – grow their business.
Immediately upon taking office, Frank launched an equity ownership plan that turned First Data's 23,000 employees into shareholders. He then unveiled Clover Station, a revolutionary new system designed for small- and midsized businesses to track inventory, manage employees, build lasting customer relationships and accept payments with ease. He also partnered with or acquired leading technology startups to further strengthen First Data’s portfolio of cutting-edge solutions and services.
In June, 2014, First Data announced an historic private placement of $3.5 billion of equity in the company, ratifying the transformation begun under Frank's leadership. By the end of Frank's first year on the job, he had positioned First Data as a classic business turnaround story with a business model touching all corners of the payments ecosystem that drives the global economy.
First Data, under Frank, enables electronic payments around the world, two thousand times a second, for more than 6 million merchant locations, over 4,000 card issuers and millions of consumers. As the global payments industry leader, First Data provides its clients with the tools they need to thrive in today’s fast-changing world. In 2014, the company processed more than 74 billion electronic transactions worldwide representing $1.9 trillion in transaction volume. Headquartered in Atlanta, First Data operates in 36 countries spanning the globe. The company’s 2014 consolidated revenue was $11.2 billion.
Prior to joining First Data, Frank was the Co-Chief Operating Officer for JPMorgan Chase and the CEO of Mortgage Banking at JPMorgan Chase. Under Frank’s leadership, the Mortgage Banking unit reported 2012 net income of $3.3 billion, another impressive turnaround compared with a net loss of $2.1 billion in 2011. As Co-Chief Operating Officer, Frank's 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.
Earlier in his career, Frank 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, his unit’s revenue grew to $6 billion from $4 billion annually, with bottom line performance swinging from a net income loss of $400 million to a profit in excess of $1 billion during his tenure.
Frank served between 2002 and 2004 as the Chief Administrative Officer for Citigroup's Corporate and Investment Bank and Citigroup's firm-wide deputy head of technology and operations, a post he held during 9/11, when he managed Citigroup's successful business continuity plan, which involved relocating 16,000 employees displaced by the loss of 1.3 million square feet when the 7 World Trade Center building was destroyed.
Frank played a key role in a series of historic transactions at Citi as he took on positions of increasing leadership at the bank, which he joined in 1994. These deals included the merger of Citicorp and Travelers and the acquisitions of Salomon-Smith Barney and Primerica Financial Services, among others.
Prior to Citi, Frank worked at First Fidelity Bank from 1990 to 1994, where he was an executive vice president overseeing technology and operations, and later served as chief consumer lending officer. At First Fidelity, Frank earned a reputation for skillfully managing complex mergers and integrations, overseeing 13 acquisitions into the business and consolidating eight banks into one.
Throughout his career, Frank has worked to bring new career opportunities to men and women who served their nation in uniform. While at JPMorgan Chase, he was a founder of the 100,000 Jobs Mission, an original coalition of 11 companies that since grown to a roster of 170 firms, hiring 161,752 veterans collectively as of June 2014. Frank's commitment to veterans has continued at First Data, where First Data Salutes provides a wide array of opportunities and support for returning military and their families.
First Data Corporation is a global payment technology solutions company headquartered in Atlanta, Georgia, United States. The company's STAR interbank network offers PIN-secured debit acceptance at ATM and retail locations.
First Data has a global footprint of 6 million merchants, the largest in the payments industry.[2] The company handles 45% of all US credit and debit transactions, including handling prepaid gift card processing for many US brands such as Starbucks.[2][3] It processes over $1 trillion in card transactions annually, with an 80% market share in gas and groceries.[4] First Data has also provided shopping metrics for national news networks such as USA Today, ESPN, The New York Times and Vox.[5][6][7][8]
In October 2015, First Data sold 160 million shares in the New York Stock Exchange in its IPO, in order to pay down its debt.[9]
The company has been recognized by the UK's Information Commissioner's Office as one of the companies whose binding corporate rules for data privacy are aligned with the EU's Data Protection Directive.[10][11]
