Fiserv, a prominent global provider of payments and financial services technology, has unveiled upcoming changes in its executive leadership that are set to take effect in 2024, according to a report by Businesswire.
Jennifer LaClair, currently serving as the Chief Revenue Officer, will lead Global Business Solutions effective January 1, 2024. LaClair will succeed Suzan Kereere. She brings extensive financial expertise from her tenure at Ally Financial and PNC Financial Services and consulting experience at McKinsey & Company.
Rick Singh will join as the Enterprise Growth Officer in mid-January 2024 to spearhead strategy, mergers, acquisitions, and ventures at Fiserv. With a notable background at J.P. Morgan and diverse roles in investment banking, Singh has a wealth of experience in strategic development.
Fiserv Eyes Growth across Diverse Financial Sectors
Frank Bisignano, Fiserv's Chairman, President, and Chief Executive Officer, stated: "These changes highlight our focus on leadership development and will ensure a smooth transition. I'm grateful for Suzan's leadership and wish her well in the future."
Fiserv operates with the mission to facilitate the movement of money and information globally. Its services encompass various financial technology solutions, including digital banking, payments , e-commerce, and a cloud -based point-of-sale platform.
Fiserv posted impressive results in the third quarter of 2023, highlighting a growth of 8% year-over-year in revenue to $4.87 billion. Notably, the firm revised its 2023 revenue outlook, expecting an increase of 11%. The surge in revenue during the quarter was attributed to notable growth across Fiserv's segments.
Fiserv Capitalizes on Strong Financial Performance
Fiserv's earnings per share (EPS) soared to $1.56 in the third quarter and $3.54 in the first nine months, marking an increase of 108% and 32% from the previous year. The company anticipates an improvement of 15% to 16% in adjusted EPS, currently ranging between $7.47 and $7.52 per share.
In October, Fiserv partnered with Plaid, a data management firm. This alliance aims to enhance financial data sharing by ensuring seamless access to vast applications and services on the Plaid network for customers associated with Fiserv-hosted banks and credit unions.
This collaboration leverages Fiserv's AllData Connect tool, a system designed to facilitate consumers in securely sharing their financial information with their preferred third-party applications and services.
