Fiserv, a Wisconsin-based provider of payments and financial services technology, has appointed Michael P. Lyons as its new Chief Executive Officer.

Lyons takes on the role following the confirmation of Frank Bisignano, the company’s former CEO, as Commissioner of the Social Security Administration.

He will also join the Fiserv Board of Directors.

Commenting on his appointment, Lyons said:

“For more than 40 years, Fiserv has been a transformative force in financial technology driven by innovation and deep commitment to delivering best-in-class technology, value-added advice and service to our clients. I am proud to lead an organisation that provides exceptional solutions to financial institutions, merchants, and communities of all sizes while driving growth and long-term value for our shareholders.”

In addition, Doyle R. Simons, who previously served as Lead Independent Director, has been named non-executive Chairman of the Board.

“I am honoured to take the role of Chairman,”

said Simons.

“On behalf of the Fiserv Board of Directors, I want to thank Frank for his outstanding leadership, vision, and drive over the past five years, positioning Fiserv as the preeminent fintech in our industry. Together with my fellow board members, we look forward to working with Mike and the entire management team as they continue to drive growth, innovation, and industry leadership.”

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