Dive Brief:
- Payment processing giant Fiserv appointed two new chief revenue officers and a new global head of business development earlier this month.
- The three new executives were hired in roles that involve boosting revenue at a time when Fiserv’s earnings have disappointed analysts and investors.
- Lia Cao was named chief revenue officer for enterprise and platforms, Robert Clarkson was named chief revenue officer for small businesses and the point-of-sale service Clover, while Adit Gadgil was named global head of business development, according to a LinkedIn post from the first week of February.
Dive Insight:
All three are external hires according to their LinkedIn pages. Cao and Gadgil both most recently worked at JPMorgan Chase as managing directors. Clarkson came to Fiserv from rival payment processor Stripe, where he most recently worked as a chief revenue officer.
"Together, this leadership team will be instrumental in accelerating our growth and delivering even more value to our clients and partners," the LinkedIn post announcing the appointments said.
Fiserv’s post did not provide further details on why the trio were hired or who they replaced, but a company spokesperson said the appointments were made in the name of expanding Fiserv’s customer base.
“These intentional investments in talent will help us win new clients, and grow existing relationships through outstanding service and a stronger technical infrastructure,” the spokesperson said in an emailed statement.
The company has been under fire from investors as its revenue and profits have fallen short of Wall Street's expectations in the final two quarters of 2025.
Fiserv reshuffled its C-suite in October, including replacing its chief financial officer. The following month, CEO Mike Lyons told analysts on an earnings call that the company had misjudged how to juggle long-term and short-term projects.
Lawsuits filed by investors allege the company exaggerated Clover's success and forced clients to switch to services they don't want to use. Suits filed by merchants say Fiserv failed to protect customer accounts from hackers. The company has consistently denied the allegations in these lawsuits.
