Scott Bessent Expected To Keep IRS Commissioner Role With Frank Bisignano As CEO: Report

Treasury Secretary Scott Bessent is reportedly set to remain in his role as commissioner of the Internal Revenue Service (IRS), while a new official will be named as his top deputy.

Sources familiar with the matter told CNBC that despite the IRS role initially being intended as temporary, President Donald Trump has decided he wants Bessent to continue leading the organization.  

Shortly after, the Treasury Department announced the appointment of Frank Bisignano as the CEO of the IRS, a newly created position. Bisignano will report directly to Bessent, managing the organization and overseeing all day-to-day IRS operations while also continuing to serve in his role as Commissioner of the Social Security Administration.

“Under his leadership at the SSA, he has already made important and substantial progress,” said Bessent in a post on X. “Frank is a businessman with an exceptional track record of driving growth and efficiency in the private and now public sector,” said Bessent.

Prior to joining the government, Bisignano served as president and CEO of Fiserv, where he led the 2019 merger with First Data. He also held roles as co-chief operating officer and CEO of JPMorgan Chase’s mortgage banking unit, and previously worked at Citigroup. Both Bessent and Bisignano are expected to continue managing dual roles indefinitely within the administration.

U.S. equities traded higher during pre-market trading on Monday. The SPDR S&P 500 ETF (SPY) was up 0.27%, the SPDR Dow Jones Industrial Average ETF (DIA) gained 0.17%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) moved 0.79% higher. 

Read also: BNB Hits All-Time High, Leads Altcoin Rally After Bitcoin’s Weekend Surge Lifts Crypto Market To Record

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