President-elect Donald Trump has named Frank Bisignano, head of Wisconsin-based payment and financial technology company Fiserv Inc., as his pick to lead the Social Security Administration.
Bisignano is a business leader with a history of transforming large corporations. As the chair, chief executive, and president of Milwaukee-based Fiserv, he has a track record of delivering results. He previously held top posts at JPMorgan Chase & Co. and Citigroup.
The Social Security trust funds are projected to be insolvent by 2034, according to projections from the Congressional Budget Office. Trump promised to protect Social Security during his campaign, but details on how he would save the program remain unclear.
As head of the agency, Bisignano will oversee a staff of almost 60,000 employees. He has a history of donating to political campaigns and previously donated over $125,000 to Trump’s campaign in 2019.
Wisconsin Sen. Ron Johnson expressed skepticism about Bisignano’s nomination, calling for “serious” changes to the program. Other congressional Republicans have also voiced concerns about Social Security management. However, Tim Sheehy, a prominent Republican business leader, praised Bisignano’s qualifications, saying he is well-suited to oversee the agency due to his experience in facilitating financial transactions and leading a large corporation.
Source: https://eu.jsonline.com/story/news/local/2024/12/05/trump-taps-fiserv-ceo-bisignano-to-lead-social-security-administration/76792991007