Bisignano graduated from Baker University with a bachelor's degree in finance. By 1985, he had begun working at Shearson Lehman Brothers, serving as the company's senior vice president from 1986 to 1990. In August 2000, Bisignano became the chief administrative officer at Citigroup. In December 2005, he became the chief administrative officer at JPMorgan Chase, later serving as the head of mortgage lending and its co-chief operating officer. In April 2013, Bisignano resigned from JPMorgan Chase to serve as the chief executive of First Data, a payments processing company. He became the president and chief operating officer of Fiserv after it acquired First Data in July 2020; a year later, he became Fiserv's chief executive officer.
In December 2024, president-elect Donald Trump named Bisignano as his nominee for commissioner of the Social Security Administration. He appeared before the Senate Committee on Finance in March 2025. The committee voted to confirm Bisignano the following month. The Senate confirmed Bisignano in May. In October, secretary of the treasury and acting commissioner of internal revenue Scott Bessent appointed Bisignano as the chief executive officer of the Internal Revenue Service, a position that had not existed prior.
Early life and education (1959–1985)
Frank J. Bisignano was born on August 9, 1959,[1] in New York, New York.[2] Bisignano was raised in Mill Basin, Brooklyn.[3] He is the son[4] and grandson of immigrants from Southern Italy;[5] his father and grandfather served in the military.[6] Bisignano's father was a customs agent, while his mother was a bookkeeper at a stevedoring company who later ran the company's operations.[4] Bisignano graduated from Mary Queen of Heaven, a Catholic school in Mill Basin,[7] and from Baker University, where he majored in finance and competed as a bowler.[4]
In the 1980s and 1990s, Bisignano worked for the banker Sanford I. Weill.[8] By 1985, he had begun working at Shearson Lehman Brothers.[9] The following year, Bisignano married Nancy A. Hausner;[10] they had two children.[11][9] From 1986 to 1990, he served as a senior vice president at Shearson Lehman Brothers. Bisignano later became an executive vice president and chief consumer lending officer at First Fidelity Bancorporation.[12] In 1994, Jamie Dimon hired Bisignano at Salomon Smith Barney as chief of operations.[4] By 1998, Bisignano had become the co-head of global operations and technology at Smith Barney.[13]
Citigroup (2000–2005)
By August 2000, Bisignano had become the head of global operations and information technology for Citigroup. That month, he was promoted to senior executive vice president and succeeded Robert Druskin as chief administrative officer.[14] Bisignano led Citigroup's operations following the September 11 attacks.[15] In August 2002, Bisignano's responsibilities expanded to include Citigroup's electronic commerce and transactions services businesses.[16]
JPMorgan Chase (2005–2013)
In December 2005, JPMorgan Chase appointed Bisignano as its chief administrative officer.[17] He was a lieutenant of Dimon, who was set to become JPMorgan Chase's chief executive the following month and whom Bisignano had met working for Sanford I. Weill.[18] Bisignano garnered a reputation as a fixer and led JPMorgan Chase's absorption of Bear Stearns amid the 2008 financial crisis.[15] He moved to consolidate several of JPMorgan Chase's offices in New York.[19] Bisignano additionally led negotiations over JPMorgan Chase's London buildings while fielding chemotherapy for throat cancer.[15] In 2008, he married Tracy S. O'Rourke,[20] a fifth-grade school teacher.[3]
In February 2011, JPMorgan Chase named Bisignano to manage mortgage lending[21] with the intent of revitalizing the business, which faced criticism from regulators over its foreclosure practices.[22] His authority increased after the head of mortgage lending, David Lowman, was ousted.[22] In July 2012, he was appointed as co-chief operating officer alongside Matt Zames.[23] His responsibilities included technology and security.[24] Bisignano was involved in the reorganization of JPMorgan Chase after a trading loss scandal.[18] In December, he resigned as the head of mortgage lending.[25]
First Data and Fiserv (2013–2025)
In April 2013, Bisignano resigned from JPMorgan Chase to serve as the chief executive of the payments company First Data.[18] According to The New York Times, his resignation was voluntary[26] and came amid other resignations following the trading loss scandal.[27] Bisignano hired several JPMorgan Chase employees at First Data, leading to a hiring dispute; the company paid JPMorgan Chase less than US$10 million in January 2014 to settle the dispute.[28] In an effort to salvage First Data's finances following its acquisition by KKR & Co. in 2007, Bisignano attempted unusual measures, including suspending 401(k) contributions in favor of stock options.[29] His tenure marked a shift in the company's strategy from payment processing to client tooling.[30] Bisignano sought to establish a partnership with Apple for its Apple Pay service[31] and acquire start-ups, such as Clover Network, in separate efforts to revive the company.[32]
According to The New York Times, Bisignano was the highest-paid financial chief executive in 2015[33] and the second-highest-paid chief executive overall in 2017.[34] He filed for an initial public offering of First Data in July 2015.[35] In July 2019, Fiserv acquired First Data. Bisignano became Fiserv's president and chief operating officer after the acquisition. A year later, he became chief executive of the company.[36] According to the Milwaukee Journal Sentinel, Bisignano was the highest-paid executive in Wisconsin in 2023.[37]
Bisignano resigned from his Fiserv positions in May 2025 after being confirmed as the commissioner of the Social Security Administration.[38] He sold his holdings in the company after his confirmation to comply with a federal government ethics agreement.[39] In October, the price of Fiserv's shares fell sharply after a weak financial earnings report; the sell-off averted Bisignano a loss of US$300 million.[40] A class-action lawsuit filed earlier that year accused Bisignano and Fiserv of manipulating financial statistics, misleading investors.[41] In November, Democratic senators Ron Wyden of Oregon and Elizabeth Warren of Massachusetts, the ranking members of the Senate Committees on Finance and Banking, respectively, began investigating Bisignano's stock sell-off.[42]
Commissioner of the Social Security Administration (2025–present)
Nomination and confirmation
On December 4, 2024, president-elect Donald Trump named Bisignano as his nominee for commissioner of the Social Security Administration.[45] By February 2025, Bisignano's paperwork was still being reviewed by congressional aides.[47] He appeared before the Senate Committee on Finance on March 25. Bisignano told the committee that he did not intend to privatize the agency.[48]Oregon senator Ron Wyden, the committee's ranking member, pressed Bisignano on his relationship with the Department of Government Efficiency and its access to Social Security information.[49] Wyden claimed that Bisignano had lied when he testified that he had no contact with DOGE.[50] The Senate Committee on Finance voted 14–13 along party lines to advance his nomination.[51] On May 6, the Senate voted to confirm Bisignano in a 53–47 vote along party lines.[38]
Tenure
In an address to managers two weeks after being sworn in, Bisignano stated that he would not implement mass layoffs immediately to ensure the "right level of staffing", but praised the use of artificial intelligence and suggested that the Department of Government Efficiency could benefit the agency.[52] He succeeded Leland Dudek, whose term as acting commissioner was affected by the Department of Government Efficiency's efforts to gain access to the agency's databases and codebases. Bisignano rejected senior advisor Elon Musk's claim that forty percent of inbound calls to the Social Security Administration were from scammers, but told The New York Times that DOGE's work was "one hundred percent accurate".[53] In July, he sought to flag immigrants as "unverified" in a system used by companies to verify Social Security numbers in an effort to pressure migrants to leave the United States.[54]
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