First Data names JPMorgan executive Bisignano as CEO

April 28, Sun Apr 28, 2013 4:15pm EDT

April 28, (Reuters) - Electronic payment processor First Data Corp. said on Sunday it hired top JPMorgan executive Frank Bisignano as its chief executive officer, effective Monday April 29.

As earlier reported by the Wall Street Journal, Bisignano is the latest senior executive to leave the U.S. bank giant after it suffered heavy trading losses and has been under regulatory scrutiny.

Bisignano had jointly held the role of chief operating officer at JPMorgan with Matt Zames. Zames was set to fully assume the role after Bisignano's departure, according to the Wall Street Journal.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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