A great story of how KKR's star manager Scott Nuttall convinced Brooklyn born Frank Bisignano to leave JPMC and join him in helping dig First Data (and KKR) out of a massive hole
The payments-processing giant is staking its comeback on a big tech bet—selling apps and Big Data services to millions of small businesses. It was the sale Scott Nuttall had to make. On a Saturday morning in April 2013, Nuttall was sitting at a corner table in the nearly empty restaurant at the Hilton in Short Hills, N.J., striving to persuade his burly guest to trade one of the best jobs in banking for a chance to rescue one of the hardest of hard cases. For Nuttall, the recruiting mission was personal, even emotional. Six years earlier he’d led the nearly $30 billion leveraged buyout of First Data FDC 1.56% , a payments-processing colossus, for KKR, the legendary firm where Nuttall serves as chief of asset management.