Fiserv Names Devin B. McGranahan Group President

BROOKFIELD, Wis.--()--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Devin McGranahan has been named president of its Billing and Payments Group, effective November 1, 2016. McGranahan succeeds Rahul Gupta, who will leave Fiserv in December 2016 to pursue other interests.

McGranahan brings more than 25 years of business and leadership experience to Fiserv. He most recently served as a senior partner at McKinsey and Company, engaging with leading financial services companies on a broad range of strategy, payments and business-building opportunities. He also held a variety of management roles at the firm, including leader of the Global Insurance Practice and co-chair of the Global Senior Partner Election Committee. In addition, McGranahan served as co-leader of the North America Financial Services Practice.

“Devin brings unique perspective to Fiserv. As part of his role at McKinsey he worked closely with our organization over the past decade, and also advised multiple companies, many of which are Fiserv clients, on navigating the transformation of financial services,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “His proven strategic leadership in financial services makes him a strong addition to the Fiserv team.”

McGranahan earned an MBA with distinction from Harvard Business School, a bachelor’s degree in finance from The Wharton School of the University of Pennsylvania and a bachelor’s degree in mechanical engineering from the University of Pennsylvania. Active in the community, he is chair of the Pittsburgh Symphony Orchestra and president of Lake Ontario Optimist Team (LOOT), a children’s educational sailing program.

McGranahan succeeds Rahul Gupta, who will leave after more than a decade in key leadership positions at Fiserv and more than 30 years serving the financial services and payments industries. Gupta was named president of the Billing and Payments Group in 2014 and will assist with the transition through the remainder of 2016.

“Rahul is leaving Fiserv to pursue opportunities closer to his home in California,” said Yabuki. “He has played an important role in our company’s evolution, driving success for Fiserv across a variety of payments-specific leadership positions over the last 10 years. We thank him for his many contributions and wish him and his family well in the future.”

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more than 30 years, Fiserv has been a global leader in financial services technology. Fiserv is a FORTUNE 500 company and in 2016 was honored to be named a FORTUNE magazine's World's Most Admired Company for the third consecutive year. In 2015 the company was recognized among Forbes magazine's America's Best Employers. For more information, visit Fiserv.com.

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Contacts

Fiserv, Inc.
Investor Relations:
Stephanie Gregor
Vice President, Investor Relations
262-879-5969
stephanie.gregor@fiserv.com

Media Relations:
Britt Zarling
Vice President, Corporate Communications
414-526-3107
britt.zarling@fiserv.com

Release Summary

Fiserv announced today that Devin McGranahan has been named president of its Billing and Payments Group, effective November 1, 2016.

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Contacts

Fiserv, Inc.
Investor Relations:
Stephanie Gregor
Vice President, Investor Relations
262-879-5969
stephanie.gregor@fiserv.com

Media Relations:
Britt Zarling
Vice President, Corporate Communications
414-526-3107
britt.zarling@fiserv.com