Pittsburgh-based PNC Financial Services Group, Inc. announced that President Michael P. Lyons will leave the company to assume the role of President and CEO of Fiserv.
Lyons was named president of the company in 2024 after serving as head of Corporate and Institutional Banking in 2011.
“Mike has been with PNC for 13 years and has been instrumental in our growth and success,” PNC Chairman and CEO William S. Demchak said. “He is leaving to go to a great client and partner, and we wish him well. We have built a tremendous leadership team together, and I am confident that we won’t miss a step in our journey to becoming one of the largest and most successful banks in the country.”
Lyons has more than 30 years of industry experience, Fiserv said, including leadership roles at Bank of America and portfolio management at Maverick Capital. Currently, he chairs Early Warning Services, which owns and operates Zelle and PAZE. Fiserv is a global leader in payments and financial technology.
Lyons replaces current Fiserv chair and CEO Frank Bisignano who has been appointed commissioner of the Social Security Administration. Bisignano will continue in his Fiserv role until June 30, 2025 or until his confirmation by the U.S. Senate. Lyons will assume Bisignano’s position effective Jan. 27, 2025, and will report to Bisignano until his departure.
“On behalf of the entire Board, we are excited to announce Mike Lyons as our new president and CEO-elect,” Doyle R. Simons, Lead Independent Director of Fiserv, said. “The Board engaged in a robust search to find a leader with the right blend of industry depth, strategic vision, and a proven track record of delivering operational excellence and superior results. We are confident that Mike is the right choice to guide Fiserv into the next chapter of unrivaled innovation and service to financial institutions, businesses and communities around the world and continue to drive shareholder value.”