Trump taps Fiserv CEO to lead Social Security Administration

The CEO of Wisconsin-based Fiserv Inc, Frank Bisignano, has been nominated by President-elect Donald Trump to head the Social Security Administration. 

In a Wednesday evening post to his social media platform Truth Social, Trump hailed Bisignano as a business leader “with a tremendous track record of transforming large corporations.” 

“He will be responsible to deliver on the Agency’s commitment to the American People for generations to come!” said Trump.

Bisignano has been president and chief executive officer for the global payment and financial technology company since 2020. Before that, he was a co-chief operating officer and CEO of mortgage banking at JP Morgan Chase. Bisignano is also credited as the architect of the 2019 merger of Fiserv and First Data Corporation. 

In 2022, Fiserv announced it was moving its headquarters from Brookfield, Wisconsin to downtown Milwaukee. The city offered the company $7 million for the move through a tax increment finance district.

A statement from the company notes Bisignano will continue to serve as CEO for Fiserv until he is confirmed by the U.S. Senate. If confirmed, the release says the company’s board of directors will follow a “long-term succession plan” to name a new CEO.

In the statement, Bisignano said serving as Fiserv’s CEO is an honor and he’s proud of what his team has accomplished during his tenure but he is looking forward to joining Trump’s cabinet.

“I am honored to have this once in a lifetime opportunity to serve my country,” Bisignano said. “I thank President-elect Trump and, if confirmed, look forward to applying my experience to transform our social security system.”

A spokesperson for Fiserv Inc, told WPR the company and Bisignano are unable to expand on what types of changes or reforms might be proposed for SSA at this time.

Federal Election Commission data shows Bisignano donated $127,800 to Trump’s re-election campaign in 2019. However, in 2023, he donated $15,000 to a political action committee aimed at electing former Republican New Jersey Gov. Chris Christie.

Bisignano has also supported Democrats in the past, including former Democratic U.S. Senate Majority Leader Chuck Schumer and Milwaukee Bucks executive Alex Lasry, who ran as a Democrat against Republican U.S. Senator Ron Johnson in 2021.

Fiserv Inc has become synonymous with the Milwaukee Bucks basketball team after the company signed a 25-year naming rights deal for the $524 million arena in the heart of the city now known as Fiserv Forum.

The arena opened in 2018 after receiving $250 million in taxpayer subsidies from legislation signed into law in 2015 by former Republican Gov. Scott Walker.