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President Trump has chosen Frank Bisignano, a banking executive with extensive experience at large financial institutions, to head the Social Security Administration. Bisignano has a track record of making political donations, primarily to members of the Republican party.
Authored by Minho Kim
Reporting live from the
Stay updated on the most recent developments in Trump’s transition process and his selections for key staff positions.
On Wednesday night, President-elect Trump revealed his selection of Frank Bisignano, the chairman of Fiserv, a large payment processing company, as the new commissioner of the Social Security Administration. This federal agency has over 1,200 field offices and nearly 60,000 employees.
The president-elect praised Frank as a skilled business leader known for successfully changing big companies. The president-elect stated on social media that Frank will be in charge of fulfilling the Agency’s promise to the American People.
In his late 20s, Mr. Bisignano quickly rose to a prestigious position in the New York finance industry as a senior vice president at Shearson Lehman Brothers. He later worked at other prominent Wall Street banks including Morgan Stanley, Citigroup, and JPMorgan Chase & Company after spending almost five years at Shearson Lehman Brothers in the late 1980s.
In 2017, Mr. Bisignano was ranked as the second-highest-paid CEO in the United States. He was one of the rare individuals who earned over $100 million that year and received a salary over 2,000 times higher than the average employee at First Data Corporation, which later combined with Fiserv.
Mr. Bisignano has a track record of supporting political candidates, primarily those affiliated with the Republican party. Records from federal campaign finance reports indicate that his wife, Tracy Bisignano, contributed close to $1 million to Mr. Trump’s campaign in October. However, in November 2023, Mr. Bisignano donated $15,000 to the presidential campaign of Chris Christie, a Republican and former governor of New Jersey who initially ran against Trump but eventually withdrew from the race.
On Wednesday, President Trump shared a detailed biography of Mr. Bisignano on social media and congratulated him and his family, but did not mention the specific position he was being appointed to. An hour later, the president clarified the situation, putting an end to the speculation about Mr. Bisignano’s new job.
Minho Kim reports on current events and the environment, with a focus on climate change. He is located in Washington. To learn more about Minho Kim
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