Fiserv appoints Raj Seshadri to board from November 30

Fiserv said on October 23 that Raj Seshadri will join its board of directors on November 30, 2026. The appointment adds a senior adviser to Mastercard’s chief executive to the payments and financial-services technology company’s board, while incumbent director Henrique De Castro is expected to remain until Fiserv’s 2027 annual shareholder meeting.

The Fiserv adds Raj Seshadri board announcement also said De Castro would not stand for re-election at that meeting. Fiserv’s announcement does not say Seshadri is replacing De Castro, and the disclosed dates indicate that both are due to serve on the board for a period beginning late next month.

When does Raj Seshadri join Fiserv’s board?

Seshadri’s appointment takes effect on November 30, more than a month after Fiserv made the announcement. According to a Form 8-K reproduced by StockTitan, Fiserv’s board determined that she is independent under applicable securities-exchange rules and rules and regulations under the Exchange Act.

The filing also says Seshadri will receive the company’s standard arrangements for non-employee directors, may participate in its non-employee director deferred-compensation plan and will enter into a director indemnity agreement.

Seshadri’s payments and data background

Seshadri is currently senior strategic adviser to Mastercard’s chief executive, advising on emerging strategic priorities, Fiserv said. During more than a decade at Mastercard, she was chief commercial payments officer, president of its Data & Services unit and president of U.S. Issuers.

Her commercial-payments remit covered commercial cards, business-to-business accounts-payable and accounts-receivable products, bill payments, remittances and disbursements, according to Fiserv. In the Data & Services role, she oversaw a portfolio that included analytics, insights, loyalty, cybersecurity and innovation offerings. As president of U.S. Issuers, she led Mastercard’s relationships with major US financial institutions.

Fiserv said Seshadri previously held senior positions at BlackRock, Citigroup, U.S. Trust and McKinsey & Company. She is also a director of Raymond James Financial.

De Castro plans to leave after 2027 meeting

De Castro will continue to serve until Fiserv’s 2027 annual meeting but will not seek another term, according to the company and the reproduced 8-K. The filing says his decision was not the result of a disagreement with management over Fiserv’s operations, policies or practices.

Gordon Nixon, Fiserv’s board chairman, said Seshadri’s experience across financial services, payments and data analytics would benefit the company and its board. That assessment is Fiserv’s view; the company did not disclose any further board assignments for Seshadri in its announcement.

This story draws on original reporting from Finextra Research.