First Data, the largest U.S. merchant acquirer, named former JPMorgan Chase CIO Guy Chiarello president on Tuesday, Bloomberg reports. Current CEO and former JPMorgan co-COO, Frank Bisignano, hired Chiarello.
A regulatory filing obtained by the media outlet said Chiarello will make a base salary of $1 million and receive a bonus of at least $2.5 million for 2013. The deal also included a signing bonus of $6.5 million that can be rescinded if Chiarello leaves or is fired within two years.
The move followed an earlier report from The Wall Street Journal that Chiarello was looking to leave the financial service provider.
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