American Express Company (NYSE: AXP), sometimes known as AmEx, is a diversified global financial services company headquartered in New York City. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best known for its credit card, charge card, and traveler's cheque businesses. Amex cards account for approximately 24% of the total dollar volume of credit card transactions in the US, the highest of any card issuer.[3][4]
BusinessWeek and Interbrand ranked American Express as the 22nd most valuable brand in the world, estimating the brand to be worth US$14.97 billion.[5] Fortune listed Amex as one of the top 20 Most Admired Companies in the World.[6]
The company's mascot, adopted in 1958, is a Roman gladiator[7] whose image appears on the company's travelers' cheques and charge cards.
American Express Company (American Express), incorporated in 1965, is a bank holding company. Its principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. American Express has four reportable segments: U.S. Card Services, International Card Services, Global Commercial Services (GCS), and Global Network & Merchant Services (GNMS). Its products and services include charge and credit card products, expense management products and services, consumer and business travel services, stored value products such as Travelers Cheques and other prepaid products, network services for the Company’s network partners, merchant acquisition and processing, point-of-sale, servicing and settlement and marketing and information products and services for merchants, and fee services, including market and trend analyses. They are sold globally to diverse customer groups, including consumers, small businesses, middle-market companies, and large corporations. Its operating subsidiary is American Express Travel Related Services Company, Inc. (TRS).
Global Network & Merchant Services (GNMS)
GNMS segment operates a global general-purpose charge and credit card network for both Cards and Cards issued under the global network services business. It also manages merchant services globally, which includes signing merchants to accept Cards, as well as processing and settling Card transactions for those merchants. This segment also offers merchants point-of-sale, servicing and settlement and marketing and information products and services. Cards bearing its logo are issued by the principal operating subsidiary, TRS, the Company’s U.S. bank subsidiaries, American Express Centurion Bank (Centurion Bank) and American Express Bank, FSB (AEBFSB), and by other operating and bank subsidiaries outside the United States. In addition, they are also accepted at automated teller machines (ATM) locations worldwide.
American Express’ Global Network Services (GNS) business establishes and maintains relationships with banks and other institutions around the world that issue Cards and, in certain countries, acquire local merchants on the American Express network. Its Global Merchant Services (GMS) business provides the Company with access to transaction data through the closed-loop network, which encompasses relationships with both the Cardmember and the merchant. During the year ended December 31, 2009, GNS signed seven partners to issue Cards and/or acquire merchants on the American Express network. Additionally, GNS partners launched approximately 100 new products, bringing the total number of American Express-branded GNS partner products launched to approximately 1,030.
The GNS arrangements fall into three categories: Independent Operator Arrangements, Network Card License Arrangements and Joint Venture Arrangements. Independent Operator Arrangements (IO) had 65 of these arrangements, where IO partners own the customer relationships and credit risk for the Cards they issue. Network Card License Arrangements (NCL) had 61 of these arrangements, which grant the third-party financial institution a license to issue American Express-branded Cards. Joint Venture Arrangements (JV) is utilized in Switzerland and Belgium, where the Company joins with a third-party to establish a separate business, in which it has an ownership stake.
American Express operates a GMS business, which includes signing merchants to accept Cards, accepting and processing Card transactions, and settling with merchants that accept Cards for purchases made by Cardmembers with Cards (Charges). It also provides marketing, information and programs to merchants, leveraging the capabilities provided by its closed-loop structure, as well as point-of-sale products and servicing. Its American Express OnePoint solution is for small- and medium-sized merchants. This program simplifies card processing for small- and medium-sized merchants by providing them with a single source for statements, settlement and customer service.
The Company competes with Visa, Master Card and Diners Club International.
U.S. Card Services
American Express’ banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services to consumers and small businesses in the United States. Its consumer travel business provides travel services to Cardmembers and other consumers. The Card business offers a set of card products. The Company offers individual consumer charge Cards, such as the American Express Card, the American Express Gold Card, the Platinum Card, and the ultra-premium Centurion Card; revolving credit Cards, such as Blue from American Express, Blue Cash Card from American Express and Blue Sky from American Express; and a variety of Cards sponsored by and co-branded with other corporations and institutions, such as the Delta SkyMiles Credit Card from American Express, True Earnings Card for Costco members, Starwood Preferred Guest Credit Card and JetBlue Card from American Express.
The charge Cards, which generally carry no preset spending limits, are primarily designed as a method of payment and not as a means of financing purchases of goods or services. Charges are approved based on a variety of factors, including a Cardmember’s spending patterns, payment history, credit record, and financial resources. The charge Cards also offer flexible payment features to Cardmembers. The Sign & Travel program gives qualified United States Cardmembers the option of extended payments for airline, cruise and certain travel charges that are purchased with the Company’s charge Cards. The Extended Payment Option offers qualified United States Cardmembers the option of extending payment for certain charges on the charge Card in excess of a specified amount. During 2009, American Express launched two Card products to the charge Card portfolio: Premier Rewards Gold and ZYNC Card.
American Express offers a variety of revolving credit Cards. These Cards have a range of different payment terms, interest rate and fee structures, rewards programs and Cardmember benefits. Revolving credit Card products, such as Blue from American Express, Blue Cash from American Express and Blue Sky from American Express, provide Card members with the flexibility to pay their bill in full each month or carry a monthly balance on their Cards to finance the purchase of goods or services.
American Express issues Cards under co-brand agreements with selected commercial firms in the United States. The duration of its co-brand arrangements generally ranges from five to ten years. Cardmembers earn rewards provided by the partners’ respective loyalty programs based upon their spending on the co-brand Cards, such as frequent flyer miles, hotel loyalty points and cash back. The Company makes payments to its co-brand partners, based primarily on the amount of Cardmember spending and corresponding rewards earned, on such spending and, under certain arrangements, on the number of accounts acquired and retained.
The Company also is a provider of financial services to small businesses. American Express OPEN (OPEN) offers small business owners a range of tools, services and savings designed to meet their needs, including charge and credit cards, retail and travel protections, such as purchase protection and baggage insurance, travel services, expense management reporting, online account management capabilities, and community-driven Website, OPEN Forum. Cardmembers are automatically enrolled in OPEN Savings, a program that offers discounts for all OPEN customers on travel and other business expenses simply by using their American Express OPEN Card at participating companies.
The Company competes with Citibank, Bank of America, JPMorgan Chase, and Capital One Financial.
International Card Service
American Express issues its charge and credit Cards in numerous countries around the globe. These are Cards it issues, either on its own or, as co-brands with partnering institutions. During 2009, American Express launched Cards with SAS Scandinavian Airlines in Sweden, All Nippon Airways Co., Ltd. in Japan and The Express Rewards Credit Cards in the United Kingdom. It has more than 1,500 redemption partners across its international business, with an average of approximately 84 partners. Membership Travel Services International provides premium travel and concierge services to its Platinum and Centurion Customers, through 24 call centers in 23 international countries. Additionally, Membership Travel Services operates 16 Travel Service Offices in Mexico, Italy and Argentina to provide all Cardmembers with travel and general card service assistance. The Company also provides foreign exchange services in Mexico and Italy.
Global Commercial Services
GCS segment provides expense management services to companies and organizations worldwide through Global Commercial Card and Global Travel Services. American Express is an issuer of commercial cards and is also a travel management company for corporations and businesses. During 2009, it added or retained several Commercial Card clients in the United States and internationally, including Affiliated Computer Services, Inc., International Business Machines Corporation, PepsiCo, Inc., Emerson Electric Co., Stryker, Tri-Pen Management Corporation and UPS. Additionally, during 2009, it added or retained several American Express Business Travel clients in the United States and internationally, including International Business Machines Corporation, Rio Tinto Limited, CBS Corporation, Zurich Insurance Company Ltd, and The Nielsen Company.
GCS offers a number of products and services, which include Corporate Card Programs and Business-to-Business Payment Solutions. Global Commercial Card (GCC) offers a range of expense management solutions to companies worldwide through its Corporate Card Programs and Business-to-Business Payment Solutions. The American Express Corporate Card is a charge card that individuals obtain through a corporate account established by their employer for business purposes. Through its Corporate Card Program, companies can manage their travel, entertainment and purchasing expenses and improve negotiating leverage with suppliers. The Company issues local currency Corporate Cards in 41 countries and international dollar/Euro Corporate Cards in 84 countries. In addition, it provides Corporate Cards issued through its GNS partner relationships for presence in 31 additional countries.
Business-to-Business Payment Solutions to help companies manage non-T&E (or B2B) spending The Corporate Purchasing Card helps large corporations and mid-sized companies manage their everyday spending. vPayment allows corporate customers to make payments with data capture and reconciliation capabilities. vPayment offers companies single-use virtual account numbers. Buyer Initiated Payment allows American Express to pay B2B suppliers electronically on behalf of its clients, permitting them to manage payments. GCC also markets Commercial Card programs to middle-market companies. GCC offers the Savings at Work Program to mid-sized companies in the United States, as well as similar programs globally, which provides companies with cash back and/or discounted pricing on everyday business products and services, such as car rentals, hotels, restaurants and courier services.
Global Travel Services
Global Travel Services (GTS) consists of American Express Business Travel and Global Foreign Exchange Services. American Express Business Travel (Business Travel) provides globally integrated solutions, both online and offline, to help organizations manage and optimize their travel investments and service their traveling employees. These solutions include travel reservation advice and transaction processing through a global network that is available around-the-clock; travel expense management policy consultation; meeting management, supplier negotiation and consultation; advisory services; management information reporting, data analysis and benchmarking; and group and incentive travel services. During 2009, American Express announced, with Maritz Travel, the launch of MaXvantageSM, an alliance to provide end-to-end strategic meetings management services to support a business’ entire meeting, event and incentive travel portfolio.
OVERALL
Beta: 1.92
Market Cap (Mil.): $58,340.89
Shares Outstanding (Mil.): 1,202.41
Annual Dividend: 0.72
Yield (%): 1.48
FINANCIALS
AXP.N Industry Sector
P/E (TTM): 13.52 26.87 17.32
EPS (TTM): 83.73 -- --
ROI: 3.18 2.44 4.63
ROE: 28.25 18.75 9.08
Statistics:
Public Company
Incorporated: 1965
Employees: 88,378
Total Assets: $148.51 billion (1999)
Stock Exchanges: New York Chicago Pacific London Paris
Ticker Symbol: AXP
NAIC: 52211 Commercial Banking; 52221 Credit Card Issuing; 52222 Sales Financing; 52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities; 52311 Investment Banking and Securities Dealing; 52312 Securities Brokerage; 52313 Commodity Contracts Dealing; 52314 Commodity Contracts Brokerage; 52321 Securities and Commodity Exchange; 52391 Miscellaneous Intermediation; 522291 Consumer Lending; 522293 International Trade Financing; 522298 All Other Nondepository Credit Intermediation; 523999 Miscellaneous Financial Investment Activities
Key Dates:
1841: Henry Wells founds Wells & Co.
1850: Wells, William G. Fargo, and John Butterfield form the American Express Company.
1852: Wells Fargo & Company is founded.
1868: American Express Company merges with Merchants Union to form the American Merchants Union Express Co.; Henry Wells retires.
1881: William Fargo dies.
1891: The American Express Traveler's Cheque is introduced.
1910: Mann-Elkins Act makes express companies subject to the scrutiny of the Interstate Commerce Commission.
1914: George C. Taylor becomes company president.
1915: American Express opens its Travel Department.
1919: The American Express Co. is established to expand the company's international banking operations.
1958: The American Express travel-and-entertainment card (the 'green card') is introduced.
1981: American Express acquires Shearson Loeb Rhoades Inc.
1982: American Express is reorganized under American Express Corp.
1987: The Optima Card is introduced.
1993: Harvey Golub becomes CEO; American Express wins federal government's travel and transportation system contract.
1999: American Express launches Blue, the first 'smart card' offered in the United States.
Name Age Since Current Position
Chenault, Kenneth 59 2001 Chairman of the Board, Chief Executive Officer
Gilligan, Edward 51 2009 Vice Chairman, Head - Global Consumer & Small Business Card Issuing, Network & Merchant Businesses
Henry, Daniel 61 2007 Chief Financial Officer, Executive Vice President
Squeri, Stephen 51 2011 Group President - Global Services
Gupta, Ashwini 57 2007 President - Risk, Information Management and Banking Group, Chief Risk Officer
Glenn, William 53 2007 President - Global Merchant Services
Buckminster, Douglas 50 2009 President - International Consumer and Small Business Services
Schulman, Daniel 53 2010 Group President - Enterprise Growth
Hayes, John 56 2003 Executive Vice President - Global Advertising and Brand Management, Chief Marketing Officer
Parent, Louise 60 1993 Executive Vice President, General Counsel
Cox, L. Kevin 46 2005 Executive Vice President - Human Resources
Schick, Thomas 64 1993 Executive Vice President - Corporate and External Affairs
Akerson, Daniel 62 1995 Director
Leschly, Jan 71 1997 Director
McGinn, Richard 64 1998 Director
Barshefsky, Charlene 60 2001 Director
Walter, Robert 65 2002 Director
Miller, Edward 69 2003 Director
Burns, Ursula 52 2004 Director
Chernin, Peter 58 2006 Director
Levin, Richard 62 2007 Director
Williams, Ronald 61 2007 Director
Reinemund, Steven 63 2007 Director
Leonsis, Theodore 54 2010 Director
Address:
American Express Tower
World Financial Center
200 Vesey St.
New York, New York 10285
U.S.A.
BusinessWeek and Interbrand ranked American Express as the 22nd most valuable brand in the world, estimating the brand to be worth US$14.97 billion.[5] Fortune listed Amex as one of the top 20 Most Admired Companies in the World.[6]
The company's mascot, adopted in 1958, is a Roman gladiator[7] whose image appears on the company's travelers' cheques and charge cards.
American Express Company (American Express), incorporated in 1965, is a bank holding company. Its principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. American Express has four reportable segments: U.S. Card Services, International Card Services, Global Commercial Services (GCS), and Global Network & Merchant Services (GNMS). Its products and services include charge and credit card products, expense management products and services, consumer and business travel services, stored value products such as Travelers Cheques and other prepaid products, network services for the Company’s network partners, merchant acquisition and processing, point-of-sale, servicing and settlement and marketing and information products and services for merchants, and fee services, including market and trend analyses. They are sold globally to diverse customer groups, including consumers, small businesses, middle-market companies, and large corporations. Its operating subsidiary is American Express Travel Related Services Company, Inc. (TRS).
Global Network & Merchant Services (GNMS)
GNMS segment operates a global general-purpose charge and credit card network for both Cards and Cards issued under the global network services business. It also manages merchant services globally, which includes signing merchants to accept Cards, as well as processing and settling Card transactions for those merchants. This segment also offers merchants point-of-sale, servicing and settlement and marketing and information products and services. Cards bearing its logo are issued by the principal operating subsidiary, TRS, the Company’s U.S. bank subsidiaries, American Express Centurion Bank (Centurion Bank) and American Express Bank, FSB (AEBFSB), and by other operating and bank subsidiaries outside the United States. In addition, they are also accepted at automated teller machines (ATM) locations worldwide.
American Express’ Global Network Services (GNS) business establishes and maintains relationships with banks and other institutions around the world that issue Cards and, in certain countries, acquire local merchants on the American Express network. Its Global Merchant Services (GMS) business provides the Company with access to transaction data through the closed-loop network, which encompasses relationships with both the Cardmember and the merchant. During the year ended December 31, 2009, GNS signed seven partners to issue Cards and/or acquire merchants on the American Express network. Additionally, GNS partners launched approximately 100 new products, bringing the total number of American Express-branded GNS partner products launched to approximately 1,030.
The GNS arrangements fall into three categories: Independent Operator Arrangements, Network Card License Arrangements and Joint Venture Arrangements. Independent Operator Arrangements (IO) had 65 of these arrangements, where IO partners own the customer relationships and credit risk for the Cards they issue. Network Card License Arrangements (NCL) had 61 of these arrangements, which grant the third-party financial institution a license to issue American Express-branded Cards. Joint Venture Arrangements (JV) is utilized in Switzerland and Belgium, where the Company joins with a third-party to establish a separate business, in which it has an ownership stake.
American Express operates a GMS business, which includes signing merchants to accept Cards, accepting and processing Card transactions, and settling with merchants that accept Cards for purchases made by Cardmembers with Cards (Charges). It also provides marketing, information and programs to merchants, leveraging the capabilities provided by its closed-loop structure, as well as point-of-sale products and servicing. Its American Express OnePoint solution is for small- and medium-sized merchants. This program simplifies card processing for small- and medium-sized merchants by providing them with a single source for statements, settlement and customer service.
The Company competes with Visa, Master Card and Diners Club International.
U.S. Card Services
American Express’ banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services to consumers and small businesses in the United States. Its consumer travel business provides travel services to Cardmembers and other consumers. The Card business offers a set of card products. The Company offers individual consumer charge Cards, such as the American Express Card, the American Express Gold Card, the Platinum Card, and the ultra-premium Centurion Card; revolving credit Cards, such as Blue from American Express, Blue Cash Card from American Express and Blue Sky from American Express; and a variety of Cards sponsored by and co-branded with other corporations and institutions, such as the Delta SkyMiles Credit Card from American Express, True Earnings Card for Costco members, Starwood Preferred Guest Credit Card and JetBlue Card from American Express.
The charge Cards, which generally carry no preset spending limits, are primarily designed as a method of payment and not as a means of financing purchases of goods or services. Charges are approved based on a variety of factors, including a Cardmember’s spending patterns, payment history, credit record, and financial resources. The charge Cards also offer flexible payment features to Cardmembers. The Sign & Travel program gives qualified United States Cardmembers the option of extended payments for airline, cruise and certain travel charges that are purchased with the Company’s charge Cards. The Extended Payment Option offers qualified United States Cardmembers the option of extending payment for certain charges on the charge Card in excess of a specified amount. During 2009, American Express launched two Card products to the charge Card portfolio: Premier Rewards Gold and ZYNC Card.
American Express offers a variety of revolving credit Cards. These Cards have a range of different payment terms, interest rate and fee structures, rewards programs and Cardmember benefits. Revolving credit Card products, such as Blue from American Express, Blue Cash from American Express and Blue Sky from American Express, provide Card members with the flexibility to pay their bill in full each month or carry a monthly balance on their Cards to finance the purchase of goods or services.
American Express issues Cards under co-brand agreements with selected commercial firms in the United States. The duration of its co-brand arrangements generally ranges from five to ten years. Cardmembers earn rewards provided by the partners’ respective loyalty programs based upon their spending on the co-brand Cards, such as frequent flyer miles, hotel loyalty points and cash back. The Company makes payments to its co-brand partners, based primarily on the amount of Cardmember spending and corresponding rewards earned, on such spending and, under certain arrangements, on the number of accounts acquired and retained.
The Company also is a provider of financial services to small businesses. American Express OPEN (OPEN) offers small business owners a range of tools, services and savings designed to meet their needs, including charge and credit cards, retail and travel protections, such as purchase protection and baggage insurance, travel services, expense management reporting, online account management capabilities, and community-driven Website, OPEN Forum. Cardmembers are automatically enrolled in OPEN Savings, a program that offers discounts for all OPEN customers on travel and other business expenses simply by using their American Express OPEN Card at participating companies.
The Company competes with Citibank, Bank of America, JPMorgan Chase, and Capital One Financial.
International Card Service
American Express issues its charge and credit Cards in numerous countries around the globe. These are Cards it issues, either on its own or, as co-brands with partnering institutions. During 2009, American Express launched Cards with SAS Scandinavian Airlines in Sweden, All Nippon Airways Co., Ltd. in Japan and The Express Rewards Credit Cards in the United Kingdom. It has more than 1,500 redemption partners across its international business, with an average of approximately 84 partners. Membership Travel Services International provides premium travel and concierge services to its Platinum and Centurion Customers, through 24 call centers in 23 international countries. Additionally, Membership Travel Services operates 16 Travel Service Offices in Mexico, Italy and Argentina to provide all Cardmembers with travel and general card service assistance. The Company also provides foreign exchange services in Mexico and Italy.
Global Commercial Services
GCS segment provides expense management services to companies and organizations worldwide through Global Commercial Card and Global Travel Services. American Express is an issuer of commercial cards and is also a travel management company for corporations and businesses. During 2009, it added or retained several Commercial Card clients in the United States and internationally, including Affiliated Computer Services, Inc., International Business Machines Corporation, PepsiCo, Inc., Emerson Electric Co., Stryker, Tri-Pen Management Corporation and UPS. Additionally, during 2009, it added or retained several American Express Business Travel clients in the United States and internationally, including International Business Machines Corporation, Rio Tinto Limited, CBS Corporation, Zurich Insurance Company Ltd, and The Nielsen Company.
GCS offers a number of products and services, which include Corporate Card Programs and Business-to-Business Payment Solutions. Global Commercial Card (GCC) offers a range of expense management solutions to companies worldwide through its Corporate Card Programs and Business-to-Business Payment Solutions. The American Express Corporate Card is a charge card that individuals obtain through a corporate account established by their employer for business purposes. Through its Corporate Card Program, companies can manage their travel, entertainment and purchasing expenses and improve negotiating leverage with suppliers. The Company issues local currency Corporate Cards in 41 countries and international dollar/Euro Corporate Cards in 84 countries. In addition, it provides Corporate Cards issued through its GNS partner relationships for presence in 31 additional countries.
Business-to-Business Payment Solutions to help companies manage non-T&E (or B2B) spending The Corporate Purchasing Card helps large corporations and mid-sized companies manage their everyday spending. vPayment allows corporate customers to make payments with data capture and reconciliation capabilities. vPayment offers companies single-use virtual account numbers. Buyer Initiated Payment allows American Express to pay B2B suppliers electronically on behalf of its clients, permitting them to manage payments. GCC also markets Commercial Card programs to middle-market companies. GCC offers the Savings at Work Program to mid-sized companies in the United States, as well as similar programs globally, which provides companies with cash back and/or discounted pricing on everyday business products and services, such as car rentals, hotels, restaurants and courier services.
Global Travel Services
Global Travel Services (GTS) consists of American Express Business Travel and Global Foreign Exchange Services. American Express Business Travel (Business Travel) provides globally integrated solutions, both online and offline, to help organizations manage and optimize their travel investments and service their traveling employees. These solutions include travel reservation advice and transaction processing through a global network that is available around-the-clock; travel expense management policy consultation; meeting management, supplier negotiation and consultation; advisory services; management information reporting, data analysis and benchmarking; and group and incentive travel services. During 2009, American Express announced, with Maritz Travel, the launch of MaXvantageSM, an alliance to provide end-to-end strategic meetings management services to support a business’ entire meeting, event and incentive travel portfolio.
OVERALL
Beta: 1.92
Market Cap (Mil.): $58,340.89
Shares Outstanding (Mil.): 1,202.41
Annual Dividend: 0.72
Yield (%): 1.48
FINANCIALS
AXP.N Industry Sector
P/E (TTM): 13.52 26.87 17.32
EPS (TTM): 83.73 -- --
ROI: 3.18 2.44 4.63
ROE: 28.25 18.75 9.08
Statistics:
Public Company
Incorporated: 1965
Employees: 88,378
Total Assets: $148.51 billion (1999)
Stock Exchanges: New York Chicago Pacific London Paris
Ticker Symbol: AXP
NAIC: 52211 Commercial Banking; 52221 Credit Card Issuing; 52222 Sales Financing; 52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities; 52311 Investment Banking and Securities Dealing; 52312 Securities Brokerage; 52313 Commodity Contracts Dealing; 52314 Commodity Contracts Brokerage; 52321 Securities and Commodity Exchange; 52391 Miscellaneous Intermediation; 522291 Consumer Lending; 522293 International Trade Financing; 522298 All Other Nondepository Credit Intermediation; 523999 Miscellaneous Financial Investment Activities
Key Dates:
1841: Henry Wells founds Wells & Co.
1850: Wells, William G. Fargo, and John Butterfield form the American Express Company.
1852: Wells Fargo & Company is founded.
1868: American Express Company merges with Merchants Union to form the American Merchants Union Express Co.; Henry Wells retires.
1881: William Fargo dies.
1891: The American Express Traveler's Cheque is introduced.
1910: Mann-Elkins Act makes express companies subject to the scrutiny of the Interstate Commerce Commission.
1914: George C. Taylor becomes company president.
1915: American Express opens its Travel Department.
1919: The American Express Co. is established to expand the company's international banking operations.
1958: The American Express travel-and-entertainment card (the 'green card') is introduced.
1981: American Express acquires Shearson Loeb Rhoades Inc.
1982: American Express is reorganized under American Express Corp.
1987: The Optima Card is introduced.
1993: Harvey Golub becomes CEO; American Express wins federal government's travel and transportation system contract.
1999: American Express launches Blue, the first 'smart card' offered in the United States.
Name Age Since Current Position
Chenault, Kenneth 59 2001 Chairman of the Board, Chief Executive Officer
Gilligan, Edward 51 2009 Vice Chairman, Head - Global Consumer & Small Business Card Issuing, Network & Merchant Businesses
Henry, Daniel 61 2007 Chief Financial Officer, Executive Vice President
Squeri, Stephen 51 2011 Group President - Global Services
Gupta, Ashwini 57 2007 President - Risk, Information Management and Banking Group, Chief Risk Officer
Glenn, William 53 2007 President - Global Merchant Services
Buckminster, Douglas 50 2009 President - International Consumer and Small Business Services
Schulman, Daniel 53 2010 Group President - Enterprise Growth
Hayes, John 56 2003 Executive Vice President - Global Advertising and Brand Management, Chief Marketing Officer
Parent, Louise 60 1993 Executive Vice President, General Counsel
Cox, L. Kevin 46 2005 Executive Vice President - Human Resources
Schick, Thomas 64 1993 Executive Vice President - Corporate and External Affairs
Akerson, Daniel 62 1995 Director
Leschly, Jan 71 1997 Director
McGinn, Richard 64 1998 Director
Barshefsky, Charlene 60 2001 Director
Walter, Robert 65 2002 Director
Miller, Edward 69 2003 Director
Burns, Ursula 52 2004 Director
Chernin, Peter 58 2006 Director
Levin, Richard 62 2007 Director
Williams, Ronald 61 2007 Director
Reinemund, Steven 63 2007 Director
Leonsis, Theodore 54 2010 Director
Address:
American Express Tower
World Financial Center
200 Vesey St.
New York, New York 10285
U.S.A.