Fiserv Appoints Michael P. Lyons as President and CEO-Elect

Rhea-AI Summary

Fiserv (NYSE: FI) has announced the appointment of Michael P. Lyons as President and CEO-elect, effective January 27, 2025. Lyons will initially report to current Chairman and CEO Frank Bisignano, who will continue in his roles until June 30, 2025, or upon earlier confirmation as Commissioner of the Social Security Administration.

Lyons brings over 30 years of industry experience, most recently serving as president of The PNC Financial Services Group. His background includes leadership roles at Bank of America and portfolio management at Maverick Capital. He currently chairs Early Warning Services, , which owns and operates Zelle and PAZE.

Upon Bisignano's departure, Lyons will become CEO and join the Fiserv Board of Directors. Doyle R. Simons, currently Lead Independent Director, will transition to non-executive Chairman of the Board when Lyons assumes the CEO position.

Positive

• Appointment of experienced financial industry veteran with over 30 years of experience
• Strategic expertise demonstrated through leadership of major acquisitions at PNC
• Current chairman of Early Warning Services (Zelle, PAZE) indicates strong fintech experience
• Planned smooth leadership transition with overlap period

Negative

• None.

MILWAUKEE--(BUSINESS WIRE)-- Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today announced the appointment of Michael P. Lyons as President and CEO-elect of Fiserv, effective January 27, 2025.

Michael P. Lyons (Photo: Business Wire)

Lyons will report to Frank Bisignano, who will continue in his current roles as Chairman and Chief Executive Officer until June 30, 2025, or upon an earlier confirmation by the U.S. Senate as the Commissioner, Social Security Administration. Upon Bisignano’s departure, Lyons will become Chief Executive Officer of Fiserv and a member of the Fiserv Board of Directors effective immediately.

“On behalf of the entire Board, we are excited to announce Mike Lyons as our new President and CEO-elect,” said Doyle R. Simons, Lead Independent Director of Fiserv. “The Board engaged in a robust search to find a leader with the right blend of industry depth, strategic vision, and a proven track record of delivering operational excellence and superior results. We are confident that Mike is the right choice to guide Fiserv into the next chapter of unrivaled innovation and service to financial institutions, businesses and communities around the world and continue to drive shareholder value.”

With more than 30 years of industry experience, Lyons most recently served as president of The PNC Financial Services Group where he led all of PNC’s lines of business. Lyons also served as executive vice president and head of Corporate & Institutional Banking at PNC where he played a significant role in PNC's strategic acquisitions, including BBVA USA in 2021.

Before joining PNC, Lyons held various leadership roles at Bank of America. As global head of corporate development and strategic planning, Lyons helped reposition the bank’s balance sheet and drive its growth strategy. Additionally, he led mergers and acquisitions, the private equity business, and investor relations during his tenure. Before Bank of America, Lyons served as a portfolio manager at Maverick Capital where he focused on financial institutions globally. Lyons currently serves as chair of Early Warning Services, LLC, the owner and operator of Zelle and PAZE.

He is a national trustee of the Boys & Girls Clubs of America, a member of the board of directors at University of Pittsburgh Medical Center (UPMC), and board chair for the Pittsburgh Parks Conservancy. Lyons graduated from the University of Pennsylvania in 1993.

“I am honored to be appointed as President and CEO-elect of Fiserv,” said Mike Lyons. “Fiserv is an extraordinary company serving merchants and financial institutions with unmatched scale and reach, industry-leading distribution, a history of innovation, and a talented team. I have known the company for a long time as an investor, banker, and technology service provider and look forward to advancing Fiserv’s 40-year track record of success with this remarkable set of assets developed by Frank and the Fiserv management team. Together, we will continue delivering exceptional products and services to financial insitutions, businesses, and communities of all sizes, along with sustainable growth and value for our shareholders.”

“Mike Lyons is an exceptional leader who I’ve gotten to know well over the past 12 years as a client as we have partnered to deliver financial and payment solutions together,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv. “His relentless work ethic, deep understanding of our business, and record of driving growth and quality, make him an excellent choice to lead Fiserv through the next chapter. I look forward to working closely with him during this transition period.”

At the time that Lyons becomes Chief Executive Officer, Doyle R. Simons, currently Lead Independent Director of Fiserv, will become non-executive Chairman of the Board.

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

FI-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20250123287770/en/

Media Relations:

Melissa Moritz

Vice President, External Communications

Fiserv, Inc.

+1 516-410-1188

melissa.moritz@fiserv.com

Source: Fiserv, Inc.

FAQ

When will Michael P. Lyons become CEO of Fiserv (FI)?

Michael P. Lyons will become CEO of Fiserv when Frank Bisignano departs, which will be June 30, 2025, or earlier if Bisignano is confirmed as Commissioner of the Social Security Administration.

What is Michael P. Lyons' previous experience before joining Fiserv (FI)?

Lyons most recently served as president of PNC Financial Services Group, and previously held leadership roles at Bank of America, including global head of corporate development and strategic planning, and was a portfolio manager at Maverick Capital.

Who will become Chairman of Fiserv (FI) after the leadership transition?

Doyle R. Simons, currently Lead Independent Director, will become non-executive Chairman of the Board when Michael P. Lyons assumes the CEO position.

What is the timeline for Fiserv's (FI) leadership transition in 2025?

The transition begins January 27, 2025, when Lyons becomes President and CEO-elect, and concludes by June 30, 2025, or earlier upon Bisignano's departure.