Trump Taps Fiserv CEO to Head Social Security Admin

President-elect Donald Trump has chosen Fiserv CEO Frank Bisignano to oversee the Social Security Administration.

The incoming president announced his pick on his Truth Social platform Wednesday (Dec. 4) evening, tapping the FinTech/payments company executive to oversee the country’s largest federal program.

“I am very pleased to nominate Frank Bisignano to serve as the Commissioner of the Social Security Administration,” Trump wrote. “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!”

Bisignano, 65, has served as Fiserv’s chief executive since 2020. He previously served as CEO of First Data, which was acquired by Fiserv in 2019. He initially oversaw the combined company’s day-to-day functions as chief operating officer (COO) before taking on the CEO role.

Prior to his First Data tenure, Bisignano served as co-COO and CEO of mortgage banking for J.P. Morgan Chase, and held a number of leadership roles for Citigroup.

News reports note that he is a longtime supporter of the Republican party. He had backed former Florida Gov. Jeb Bush and Sen. Marco Rubio when they were Trump’s rivals for the GOP nomination in 2016, but donated to Trump’s re-election campaign in 2019.

Trump campaigned on pledges to protect the Social Security program, which pays benefits to retirees and people with disabilities.

However, the president-elect’s critics have said his policies would actually harm the program. The non-partisan Committee for a Responsible Federal Budget issued a report in October warning that Trump’s plan would reduce benefits by almost a third and quicken the program’s path to insolvency.

“President Trump’s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security’s cash deficits,” the committee wrote.

Also this week, Trump nominated former Securities and Exchange commission Chair Paul Atkins to serve as chair of that regulator in his new administration.

As PYMNTS wrote, observers are hopeful that the crypto-friendly Atkins would stabilize the sector. If confirmed by the Senate, Atkins would replace Gary Gensler, who has repeatedly clashed with the industry.

“If the SEC under his leadership adopts a more cooperative crypto tone, it could unlock new opportunities for Web3 innovation,” PYMNTS wrote of Atkins. “The shift comes at a critical moment, with several high-profile lawsuits — like those involving Coinbase and Ripple — reshaping how crypto companies operate in the U.S.”