Payment processing company Fiserv has appointed Michael P. Lyons, president of PNC Financial Services Group, as the company’s next CEO, according to a Banking Dive report. Lyons will succeed current CEO Frank Bisignano, who was recently nominated by President Donald Trump to lead the Social Security Administration.
Lyons, a seasoned financial services executive with more than three decades of experience, will assume the role of CEO-elect effective immediately. He will report to Bisignano until June 30th, or until Bisignano’s Senate confirmation for the SSA position, whichever comes first.
«He was very influential in the strategic acquisitions that PNC made over the years, which is important for Fiserv, given a meaningful piece of the Fiserv strategy will be tied to [mergers and acquisitions],» Andrew Bauch, Wells Fargo analyst, told the news outlet.
Analysts have generally welcomed Lyons’ appointment, citing his strong leadership experience and deep understanding of the banking industry.