Fiserv, a global leader in financial technology and payments, has announced Michael P. Lyons, a seasoned executive with extensive experience in the banking sector, as its president and CEO-elect. With a background that includes leadership roles at PNC Financial Services Group and Bank of America, Lyons is poised to take over as CEO and join Fiserv’s board of directors. The transition will occur upon Frank Bisignano’s departure on June 30, 2025, or earlier if Bisignano’s nomination as commissioner of the Social Security Administration is confirmed by the U.S. Senate. This leadership move underscores Fiserv’s focus on fostering continuity and operational excellence during a pivotal period.
Who is Michael P. Lyons?
Michael P. Lyons is well-known for his impactful leadership in the financial services industry. At PNC, he oversaw all lines of business and played a crucial role in high-profile transactions, notably the acquisition of BBVA USA in 2021. Prior to PNC, Lyons held significant positions at Bank of America, contributing to its corporate strategy, balance sheet adjustments, and M&A activities. His current role as chair of Early Warning Services, the operator of Zelle and Paze, adds further depth to his credentials, highlighting his ability to navigate both traditional banking and emerging payment technologies.
Why did Fiserv choose Lyons?
Fiserv’s board conducted a comprehensive search to identify the best candidate for its future leadership. According to Doyle R. Simons, lead independent director of Fiserv, Lyons was selected for his “industry expertise, strategic vision, and a proven track record of delivering results.” His appointment is expected to steer the company into its next phase of innovation, aligning with its commitment to serving financial institutions, businesses, and communities globally. Simons will assume the role of non-executive chairman of the board when Lyons officially becomes CEO.
Comparing Lyons’ career trajectory to other major industry appointments highlights a consistent theme of prioritizing leaders with both operational expertise and strategic foresight. Notably, his involvement in transformative deals, such as the BBVA USA acquisition, aligns with Fiserv’s strategy of leveraging leadership experience to drive shareholder value and operational growth. Similar emphasis on M&A expertise has been seen in other CEO appointments across the financial sector in recent years.
Lyons expressed his enthusiasm for his new role, stating:
“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.”
Frank Bisignano, the outgoing CEO, has been nominated by former President Donald Trump as commissioner of the Social Security Administration. Trump praised Bisignano’s business acumen, stating:
“Frank is 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!”
The timing of Bisignano’s exit remains contingent upon Senate approval of his nomination.
This leadership succession illustrates Fiserv’s strategic alignment with evolving industry demands. Lyons’ wealth of experience in mergers, acquisitions, and digital payments positions him to guide Fiserv through continued growth. His expertise, particularly in integrating diverse business lines and fostering innovation, will likely play a critical role in shaping Fiserv’s trajectory in an increasingly competitive and technology-driven landscape.
