Fiserv’s proposed $22 billion all-stock acquisition of point-of-sale transaction company First Data would be a red letter moment for both the fintech developer and the fintech industry overall. If granted regulatory approval, the deal would result in the creation of the largest global card issuer and merchant processor—and would double Fiserv’s market capitalization to almost $60 billion.
Leading the Company’s efforts to unite the two leading Fortune 500 companies is Jeffrey Yabuki, president and chief executive officer of Fiserv. In discussing the First Data deal, Yabuki noted that “the number of acquisitions that I’ve done in my 14 years here has slowed down dramatically, but the quantum is much larger…we’re looking to take fewer and larger steps…ways to help our clients keep up and jump ahead of the change that’s going on in the market.”
Of course, the proposed First Data deal is not the only major development that Yabuki has overseen during his tenure. Since joining the Company and its board of directors in 2005, Yabuki has led the creation a 2.0 long-term strategic platform, aimed at shifting away from a traditional holding company model and toward an integrated operating company concentrated on offering best-in-class financial services, software and systems.
In addition to the proposed acquisition of First Data, Fiserv has also carried out a number of other significant acquisitions under Yabuki’s leadership, including online bill payment company CheckFree Corporation in 2007 and international mobile banking provider M-Com and payments technology firm CashEdge in 2011.
Yabuki came to Fiserv with almost two decades of experience in the financial services industry under his belt. Previously, he served as executive vice president and chief operating officer at H&R Block for over six years, overseeing the company’s financial services business unit, e-commerce activities and domestic and international tax businesses. He also spent 12 years at American Express in a range of leadership positions, culminating as president and chief executive officer of American Express Tax and Business Services.
Yabuki’s continued pioneering leadership has been recognized by others in the industry as well. In 2007, he was named “Innovator of the Year” and added to the Innovators Hall of Fame by Bank Technology News. In addition to his business positions, Yabuki serves as a trustee of the Milwaukee Art Museum and is a member of the Wisconsin School of Business Dean’s Advisory Board at the University of Wisconsin-Madison.