First Data Names Ed Labry Vice Chairman

Ed Labry, who served as First Data's interim CEO before the payments processor chose Frank Bisignano for the top job on April 28, has been named vice chairman.

In this new role, Labry will be the senior-most advisor to the CEO, leading the company's engagement with clients. When First Data hired Bisignano, it said Labry would continue in his role as president of Retail and Alliance Services. The company did not say if Labry's new role would change his duties in Retail and Alliance Services.

Labry had been serving a dual role as both president of Retail and Alliance Services and interim CEO since Jan. 28, 2013.

Labry was previously president of First Data North America, a market that grew to contribute more than 85 percent of the company's consolidated revenue under his leadership from 2010 through 2012.

Both Bisignano and Labry will be tasked with helping First Data to respond to emerging competitors and reverse the company's financial underperformance. First Data has been updating its tech over the past few months to speed deployment.

"I look forward to introducing new brands to First Data as we continue to expand our customer relationships in the United States and around the world," Labry said in a release.

First Data did not immediately reply to a request for comment.