09:02 AM EST, 01/23/2025 (MT Newswires) -- Fiserv ( FI ) said Thursday it has named Michael P. Lyons as president and chief executive-elect, effective Jan. 27.

Lyons will report to Frank Bisignano, who will continue as chairman and chief executive until June 30, or upon his confirmation by the US Senate as Commissioner of the Social Security Administration, the company said. Following Bisignano's departure, Lyons will become chief executive and a member of the board of directors, the financial services company said.

Once Lyons becomes chief executive, Doyle R. Simons, who is currently lead independent director, will become the board's non-executive chairman, Fiserv ( FI ) said.

Lyons served most recently as president of PNC Financial Services Group ( PNC ) , which he joined in 2011 as head of corporate and institutional banking, PNC said in a separate statement.

Lyons previously held various leadership roles at Bank of America ( BAC ) and as a portfolio manager at Maverick Capital, Fiserv ( FI ) said.