Monday, April 29, 2013

Dimon Loses Key Lieutenant

One of the most trusted allies of J.P. Morgan Chase & Co. Chief Executive James Dimon left the nation's largest bank to run a payment-processing company, the latest executive to depart after a multibillion-dollar trading blunder.
The 53-year-old Frank Bisignano was barely visible outside J.P. Morgan, but was well known within the company as a fixer of operational problems and was a close aide of Mr. Dimon since 2005.
Mr. Bisignano became chief executive of Atlanta-based First Data Corp., which has 24,000 employees, processes transactions for 6.5 million merchants and last year posted annual revenue of more than $10 billion.

No comments:

Post a Comment