According to a news release, Russell Fradin, 48, will be coming onboard at BISYS as of February 2. Fradin replaces Dennis Sheehan who announced last fall that he would ultimately need to step down as CEO for medical reasons (See BISYS Kicks Off CEO Search ).
Formerly, Fradin was president of ADP’s Global Employer Services Group. Before ADP, Fradin was a director at McKinsey and Company Inc., a management consulting firm. At McKinsey, he was responsible for providing a range of Fortune 500 clients with advice on identifying and executing winning business strategies, with an emphasis on new product and service innovations.
During his tenure at ADP, Employer Services’ revenue grew from $2.7 billion to $4.5 billion and the business diversified significantly beyond its traditional payroll processing offering, the BISYS announcement said.
Fradin holds a BS degree in economics from the University of Pennsylvania, Wharton School of Business, and a MBA degree from the Harvard Business School.