Top of Form
Bottom of Form
American Express
Please fill in the blank (This is a very important part of the interview – to know why you are interested):
List 2-3 reason why you are interested in this industry? ______
List 2-3 reasons why you are interested in American Express? ______
List 2-3 reasons why you are interested in this position? ______
Company Snapshot:
American Express makes money even if you do leave home without it. The company is one of the world's largest travel agencies, but it is equally as well known for its charge cards and revolving credit cards. And yes, the company still issues traveler's checks and publishes such magazines as Food & Wine and Travel & Leisure through its American Express Publishing unit. Its travel agency operations have more than 2,200 locations worldwide and its Travelers Cheque Group is the world's largest issuer of traveler's checks (it also issues gift cards). But the company's charge and credit cards are its bread and butter; American Express has issued more than 86 million cards worldwide.
The company is organized into two business segments: The Global Consumer Group and the Global Business-to-Business Group. Global Consumer offers charge and lending, consumer travel, and stored-value cards. The business group offers business travel services, corporate cards, network and merchant processing services, and point-of-sale, back-office, and marketing products for merchants.
In 2007 the company's business travel division bought the rest of Farrington American Express Travel Services Limited it didn't already own. The travel management company had been a joint venture with Farrington Travel. The move is part of American Express's global expansion push, especially in the Asia-Pacific region.
Also in 2007, American Express reached a $2.5 billion settlement with Visa and other defendants including JPMorgan Chase, Capital One, U.S. Bancorp, and Wells Fargo, dropping them from a lawsuit that alleged they conspired to block American Express from the bank-issued card business in the US.The following year it reached a $1.8 billion settlement with Mastercard, the final remaining defendant in the suit.
American Express sold the international operations of American Express Bank to Stanchart in 2008.
Warren Buffett's Berkshire Hathaway owns about 13% of American Express.
Financial Data:
2007 Sales (mil.) / $31,557.01-Year Sales Growth / 16.3%
2007 Net Income (mil.) / $4,012.0
1-Year Net Income Growth / 8.2%
2007 Employees / 67,700
Key People:
Chairman and CEO / Kenneth I. (Ken) ChenaultVice Chairman / Edward P. (Ed) Gilligan
President / Alfred F. (Al) Kelly Jr.
EVP and CFO / Daniel T. (Dan) Henry
EVP and CIO / Stephen (Steve) Squeri
Operating Segments:
US Card Services
International Card and Global Commercial Services
Global Network and Merchant Services
Corporate and Other
Current News:
MCB AND AMERICAN EXPRESS LAUNCH THE FIRST AMERICAN EXPRESS CARDS TO BE ISSUED IN MAURITIUS
PORT LOUIS, September 30, 2008 -- MCB today announced that it will issue the American Express Green Card and the American Express Gold Card in Mauritius. These Cards will provide innovative and unique benefits designed to meet the needs of consumers both at home and around the world, and will be available through the local network of MCB.
AMERICAN EXPRESS AND CRNOGORSKA KOMERCIJALNA BANKA AD PODGORICA LAUNCH THE FIRST AMERICAN EXPRESS® CARD ISSUED IN MONTENEGRO
New Card offers consumers innovative and unique benefits
PODGORICA, September 30, 2008 -- Today, Crnogorska Komercijalna Banka (CKB), member of OTP Group, launched the American Express Gold Credit Cards in Montenegro. CKB is the exclusive Issuing and Acquiring partner of American Express in Montenegro.
WIPP AND AMERICAN EXPRESS OPEN ANNOUNCE EDUCATION PROGRAM TO HELP WOMEN BUSINESS OWNERS SECURE MORE FEDERAL CONTRACTS
"Give Me 5: Education and Access for Women in Federal Contracts" Helps Women Business Owners Apply for Additional $5 Billion in Government Contracts
WASHINGTON, September 18, 2008 -- Women Impacting Public Policy (WIPP), a not for profit public policy organization and the nation's largest bipartisan women's business group, today announced a national partnership with American Express OPEN, the nation's leading issuer of payment card products and lines of credit for small business owners, to launch “Give Me 5: Education and Access for Women in Federal Contracts.” The national program is designed to educate women business owners on how to apply for and secure federal procurement opportunities.
AMERICAN EXPRESS RANKS HIGHEST IN CUSTOMER SATISFACTION AMONG CREDIT CARD COMPANIES FOR THE SECOND CONSECUTIVE YEAR
Company Ranks Highest Across All Customer Satisfaction Factors
NEW YORK, September 03, 2008 -- American Express ranks highest in customer satisfaction among credit card issuers, according to the second annual nationwide study by J.D. Power and Associates. The study, which was released earlier today, ranks American Express highest in overall satisfaction among 18 of the largest card issuers in the U.S.
Top Competitors:
- Discover (annual sales: $6,434.3 Million)
- MasterCard(annual sales: $4,067.6 Million)
- Visa Inc (annual sales: $2,599.0 Million)