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Frank Bisignano explains why he left his role as co-COO at JPMorgan Chase to become CEO of First Data, and what his plans are for the payments processor.
April 29 -
Payment processor First Data has agreed to pay JPMorgan Chase (JPM) millions of dollars in order to settle a hiring dispute, The Wall Street Journal reported Monday.
January 27
First Data Corp. has appointed Frank Bisignano as the Atlanta-based company's chairman, adding to his role as chief executive officer.
This change went into effect on March 5, First Data said in a March 10 press release. Bisignano assumes the chairman role from Joe Forehand, who held the position for approximately four years.
Bisignano became First Data's CEO at the end of April 2013. He was previously co-chief operating officer of JPMorgan Chase, where he was seen as a possible successor to chairman and CEO Jamie Dimon. First Data later hired several other executives from JPMorgan, leading to a hiring dispute the companies settled in January.
Under Bisignano, First Data introduced an equity ownership plan that gave stock to nearly all company employees. It also unveiled the Clover Station, a tablet-based point of sale system for small and medium sized businesses.
