FIS Gives Hints about Next CEO

There’s a new chairman at FIS, and it’s a familiar face: Frank Martire now heads up the payments giant’s board, in addition to leading the firm’s executive team as CEO.

To assume his latest role, Martire vacated his position as FIS’ president. That title now belongs to chief operating officer Gary Norcross.

Both promotions are directly in line with a firm succession plan at FIS. “Frank and Gary have done a terrific job driving performance and executing our business strategy,” said outgoing chairman Foley on Monday, who is freeing up time to put more effort into other opportunities. “These appointments, which advance the company’s succession planning, also reflect the depth and strength of our leadership team and our ability to promote from within.”

In other words: it’s a safe bet that Norcross will some day head up FIS as the company’s chief executive officer.

A former mortgage executive, Norcross has led at FIS as COO since 2007 — two years before the company acquired Metavante and its $1.7 billion in 2008 revenues, and made Martire CEO and president.

Martire’s leadership experience in the payments industry goes as far back as 1983, when he managed operations for National Sharedata Corporation in its Midwest region. From there, a series of mergers and lateral moves put Martire in position to lead FIS: from National Sharedata, to eventual CEO at Citicorp Information Resources following a merger; then another merger, with Fiserv, where he became COO; then a move to Call Solutions, a Wisconsin-based acquirer, where he became president and chief operating officer.

Martire left Call Solutions to join Metavante Technologies in Jan. 2003 as president of financial services. Four months later, he became that company’s chairman, positioning him for the ultimate leadership role with FIS.

Without question, Martire’s resume contains ample examples of being capable of top-level executive leadership outside of FIS’ doors. In contrast, essentially all of Norcross’ financial experience is with FIS or its acquisitions. Prior to being named COO, Norcross served as president of the firm’s Integrated Financial Solutions division for 11 years.

But FIS’ succession plan is clear, and was reinforced with Monday’s moves. At this point it’s only a matter of time before Norcross leads the firm.