Fiserv faces Jana Partners activist push for strategic review and board changes

Activist hedge fund Jana Partners has intensified its campaign at payments‑technology firm Fiserv Inc., urging a comprehensive strategic review of the company’s operations and a overhaul of its board. In a letter to directors and the newly appointed chief executive, Jana argued that piecemeal asset sales are insufficient and that a full‑scale assessment could unlock shareholder value and restore market confidence.

At the same time, institutional investor Cetera Investment Advisers increased its stake in Fiserv, buying 78,219 shares in the first quarter and holding 165,723 shares worth about $9.25 million. The campaign comes as Fiserv’s shares have lost more than half their value over the past year, leaving the company with a market capitalisation of roughly $30 billion. Former CEO Mike Lyons departed for Truist Financial, adding to governance concerns cited by Jana.