|Traded as||NYSE: AXP
Dow Jones Industrial Average Component
S&P 500 Component
|Industry||Banking, Financial services|
|Predecessor||Livingston, Fargo & Company
Wells, Butterfield & Company
Wells & Company
|Founded||March 18, 1850
Buffalo, New York, U.S.
|Headquarters||Three World Financial Center, New York City, New York, U.S.|
(Chairman & CEO)
|Products||Charge cards, Credit cards, Traveler's cheque|
|Services||Finance, Insurance, Travel|
|Revenue||US$ 34.44 billion (2015)|
|US$ 7.93 billion (2015)|
|US$ 5.16 billion (2015)|
|Total assets||US$ 161.0 billion (2015)|
|Total equity||US$ 21.0 billion (2015)|
Number of employees
The American Express Company, also known as Amex, is an American multinational financial services corporation headquartered in Manhattan's Three World Financial Center in New York City, United States. 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.
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. Fortune listed Amex as one of the top 20 Most Admired Companies in the World.
- 1 Early history
- 2 Recent history
- 3 Business model
- 4 Card products
- 5 Non-card products
- 6 Advertising
- 7 Workplace
- 8 Management and corporate governance
- 9 In popular culture
- 10 See also
- 11 References
- 12 External links
In 1850, American Express was started as an express mail business in Buffalo, New York. It was founded as a joint stock corporation by the merger of the express companies owned by Henry Wells (Wells & Company), William G. Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company). Wells and Fargo also started Wells Fargo & Co. in 1852 when Butterfield and other directors objected to the proposal that American Express extend its operations to California.
American Express initially established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called the Tribeca section of Manhattan. For years it enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings.
American Express buildings
In 1854, the American Express Co. purchased a lot on Vesey Street in New York City as the site for its stables. The company's first New York headquarters was an 1858 marble Italianate palazzo at 55–61 Hudson Street, which had a busy freight depot on the ground story with a spur line from the Hudson River Railroad. A stable was constructed in 1867, five blocks north at 4–8 Hubert Street.
The company prospered sufficiently that headquarters were moved in 1874 from the wholesale shipping district to the budding Financial District, and into rented offices in two five-story brownstone commercial buildings at 63 and 65 Broadway that were owned by the Harmony family.
In 1880, American Express built a new warehouse behind the Broadway Building at 46 Trinity Place. The designer is unknown, but it has a façade of brick arches that are redolent of pre-skyscraper New York. American Express has long been out of this building, but it still bears a terracotta seal with the American Express Eagle. In 1890–91 the company constructed a new ten-story building by Edward H. Kendall on the site of its former headquarters on Hudson Street.
By 1903, the company had assets of some $28 million, second only to the National City Bank of New York among financial institutions in the city. To reflect this, the company purchased the Broadway buildings and site.
At the end of the Wells-Fargo reign in 1914, an aggressive new president, George Chadbourne Taylor (1868–1923), who had worked his way up through the company over the previous thirty years, decided to build a new headquarters. The old buildings, dubbed by the New York Times as "among the ancient landmarks" of lower Broadway, were inadequate for such a rapidly expanding concern. After some delays due to the war in Europe, the 21-story neo-classical American Express Co. Building was constructed in 1916–17 to the design of James L. Aspinwall, of the firm of Renwick, Aspinwall & Tucker, the successor to the architectural practice of the eminent James Renwick, Jr.. The building consolidated the two lots of the former buildings with a single address: 65 Broadway. This building was part of the "Express Row" section of lower Broadway at the time. The building completed the continuous masonry wall of its block-front and assisted in transforming Broadway into the "canyon" of neo-classical masonry office towers familiar to this day
American Express sold this building in 1975, but retained travel services there. The building was also the headquarters over the years of other prominent firms, including investment bankers J.& W. Seligman & Co. (1940–74), the American Bureau of Shipping, a maritime concern (1977–86), and currently J.J. Kenny, and Standard & Poor's, who has renamed the building for itself.
American Express extended its reach nationwide by arranging affiliations with other express companies (including Wells Fargo – the replacement for the two former companies that merged to form American Express), railroads, and steamship companies.
Sometime between 1888 and 1890, J. C. Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credit, he found it difficult to obtain cash anywhere except in major cities. Fargo went to Marcellus Flemming Berry and asked him to create a better solution than the letter of credit. Berry introduced the American Express Traveler's Cheque which was launched in 1891 in denominations of $10, $20, $50, and $100.
Traveler's cheques established American Express as a truly international company. In 1914, at the onset of World War I, American Express in Europe was among the few companies to honor the letters of credit (issued by various banks) held by Americans in Europe, because other financial institutions refused to assist these stranded travelers.
The British government appointed American Express its official agent at the beginning of World War I. They were to deliver letters, money and relief parcels to British prisoners of war. Their employees went into camps to cash drafts for both British and French prisoners and arranged for them to recive money from home.
By the end of the war they were delivering 150 tonnes of parcels per day to prisoners in six countries.
Loss of railroad express business
American Express became one of the monopolies that President Theodore Roosevelt had the Interstate Commerce Commission (ICC) investigate during his administration. The interest of the ICC was drawn to its strict control of the railroad express business. However, the solution did not come immediately to hand. The solution to this problem came as a coincidence to other problems during World War I.
During the winter of 1917, the United States suffered a severe coal shortage and on December 26 President Woodrow Wilson commandeered the railroads on behalf of the United States government to move federal troops, their supplies, and coal. Treasury Secretary William Gibbs McAdoo was assigned the task of consolidating the railway lines for the war effort. All contracts between express companies and railroads were nullified and McAdoo proposed that all existing express companies be consolidated into a single company to serve the country's needs. This ended American Express's express business, and removed them from the ICC’s interest. The result was that a new company called the American Railway Express Agency formed in July 1918. The new entity took custody of all the pooled equipment and property of existing express companies (the largest share of which, 40%, came from American Express, who had owned the rights to the express business over 71,280 miles (114,710 km) of railroad lines, and had 10,000 offices, with over 30,000 employees).
During the 1980s, American Express embarked on an effort to become a financial services supercompany and made a number of acquisitions to create an investment banking arm. In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm in the United States to form Shearson/American Express.
After the purchase of Shearson, Weill was given the position of president of American Express in 1983. Weill grew increasingly unhappy with responsibilities within American Express and his conflicts with American Express' CEO James D. Robinson III. Weill soon realized that he was not positioned to be named CEO and left in August 1985. In 1984, American Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and added it to the Shearson family, creating Shearson Lehman/American Express. It was Lehman's CEO and former trader Lewis Glucksman who would next lead Shearson Lehman/American Express.
In 1984, Shearson/American Express purchased the 90-year-old Investors Diversified Services, bringing with it a fleet of financial advisors and investment products. In 1988, Shearson Lehman acquired E.F. Hutton & Co., a brokerage firm founded in 1904, this was merged with the investment banking business and the investment banking arm was renamed Shearson Lehman Hutton, Inc.
However, when Harvey Golub became CEO of American Express in 1993, American Express decided to get out of the investment banking business and negotiated the sale of Shearson's retail brokerage and asset management business to Primerica. The Shearson business was merged with Primerica's Smith Barney to create Smith Barney Shearson. Ultimately, the Shearson name was dropped in 1994.
In 1994, American Express spun off of the remaining investment banking and institutional businesses as Lehman Brothers Holdings Inc. After almost fifteen years of independence, Lehman Brothers filed for bankruptcy protection in 2008 as part of the late–2000s financial crisis.
Current CEO Ken I. Chenault took over leadership of American Express in 2001 from Harvey Golub, CEO from 1993 to 2001. Prior to that, the company was headed by James D. Robinson III from 1977 to 1993.
Charge card services
American Express executives discussed the possibility of launching a travel charge card as early as 1946, but it was not until Diners Club launched their card in March 1950 that American Express began seriously to consider the possibility. At the end of 1957, American Express CEO Ralph Reed decided to get into the card business, and by the launch date of October 1, 1958 public interest had become so significant that they issued 250,000 cards prior to the official launch date. The card was launched with an annual fee of $6, $1 higher than Diners Club, to be seen as a premium product. The first cards were paper, with the account number and cardmember's name typed. It was not until 1959 that American Express began issuing embossed ISO/IEC 7810 plastic cards, an industry first.
In 1966, American Express introduced the Gold Card and in 1984 the Platinum Card, clearly defining different market segments within its own business, a practice that has proliferated across a broad array of industries. The Platinum Card was billed as super-exclusive and had a $250 annual fee (it is currently $450). It was offered by invitation only to American Express customers with at least 2 years of tenure, significant spending, and excellent payment history; it is now open to applications on request.
In 1987, American Express introduced the Optima card, their first credit card product. Previously, all American Express cards had to be paid in full each month, but Optima allowed customers to carry a balance (the charge cards also now allow extended payment options on qualifying charges based on credit availability). Although American Express no longer accepts applications for the Optima brand of cards, since July 13, 2009, Optima cards are still listed on the American Express website, as a reference to existing members only. According to American Express, Optima accounts were not converted or closed. However, Blue from American Express has prevailed as the replacement for the original Optima style of credit card. Blue includes multiple benefits free of charge, unlike Optima, including the Membership Rewards program. In October 2012, The Consumer Financial Protection Bureau (CFPB) announced an enforcement action with orders requiring three American Express subsidiaries to refund an estimated $85 million to approximately 250,000 customers for illegal card practices. This action was the result of a multi-part federal investigation which found that at every stage of the consumer experience, from marketing to enrollment to payment to debt collection, American Express violated consumer protection laws. American Express sent letters to some previous customers: "We invite you to apply for the Optima Card from American Express. This opportunity is in connection with a settlement solicitation, which did not clearly disclose that a settlement could prevent you from being approved for a new account with us in the future. This is in response to an enforcement action by the Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau regarding this issue. Your attached application will be approved unless we determine that you do not have the financial capacity to make the minimum payment on this new Optima Card account, or we receive the application after 04/25/2013."
In April 1992, American Express spun off its subsidiary, First Data Corp., in an IPO. Then, in October 1996, the company distributed the remaining majority of its holdings in First Data Corp., reducing its ownership to less than 5%.
In 1994, the Optima True Grace card was introduced. The card was unique in that it offered a grace period on all purchases whether a balance was carried on the card or not (as opposed to traditional revolving credit cards which charge interest on new purchases if so much as $1 was carried over). The card was discontinued a few years later; the now discontinued One from American Express card offered a similar feature called "Interest Protection."
"Boston Fee Party"
From early 1980s until the early 1990s, American Express was known for cutting its merchant fees (also known as a "discount rate") to merchants and restaurants if they accepted only American Express and no other credit or charge cards. This prompted competitors such as Visa and MasterCard to cry foul for a while as the tactics "locked" restaurants into American Express. Capitalizing on this elitist image, American Express frequently mentioned such exclusive partnerships in advertising of the era.
Aside from some holdouts like Neiman Marcus (which continued exclusivity until 2011), the practice largely ended later in 1991. A group of restaurants in Boston stopped accepting American Express while accepting and encouraging the use of Visa and MasterCard, including some that were exclusive to American Express. The rationale was due to far lower fees as compared to American Express' fees at the time (which were about 4% for each transaction versus around 1.2% at the time for Visa and MasterCard). The revolt, known as the "Boston Fee Party" (alluding to the Boston Tea Party), spread to over 250 restaurants across the United States, including restaurants in other cities such as New York City, Chicago, and Los Angeles. Visa offered to pay the Fee Party's legal bills, and Discover Card was able to increase their acceptance among Boston restaurants by 375%. Kenneth Chenault, then head of Travel Related Services and now American Express CEO, cut fees to bring these restaurants back into the fold. American Express then shifted their focus from exclusivity to broadening acceptance, adding mainstream merchants like Walmart to the American Express network.
American Express formed a venture with Warner Communications in 1979 called Warner-Amex Satellite Entertainment, which created MTV, Nickelodeon, and The Movie Channel. The partnership lasted only until 1984. The properties were sold to Viacom soon after.
Conversion to bank holding company
On November 10, 2008, during the financial crisis of 2008, the company won Federal Reserve System approval to convert to a bank holding company, making it eligible for government help under the Troubled Asset Relief Program. At that time, American Express had total consolidated assets of about $127 billion. In June 2009, $3.39 billion in TARP funds were repaid plus $74.4 million in dividend payments.
Controversy in the UK
In November 2010, the UK division of American Express was cautioned by the Office of Fair Trading for the use of controversial charging orders against those in debt. The regulator said that the company was one of four companies who were encouraging customers to turn their unsecured credit card debts into a form of secured debt.
Acquisition of Loyalty Partner (2011)
In March 2011, American Express completed the $685 million acquisition of Munich-based Loyalty Partner, operator of the Payback loyalty program in Germany and Poland and the i-Mint loyalty program in India.
Costco TrueEarnings card
The TrueEarnings Costco-American Express card and Costco-American Express business card, promoted in Costco stores, was issued between 2004 and 2016. The cards did not have annual fees and offered cash back on certain tiers of purchases. The TrueEarnings card was an extension of an exclusive credit card network deal between Costco and American Express dating to 1999.
On February 12, 2015, it was announced that the partnership between American Express and Costco would dissolve March 31, 2016, which was later extended to June 19, 2016. American Express and Costco failed to reach an agreement that would have continued their partnership. By March 2, 2015, Costco announced that Citigroup would become the exclusive issuer of Costco's credit cards and that Visa Inc. would replace American Express as the exclusive credit card network accepted at Costco’s stores. The Costco deal with Visa began on June 20, 2016, and in addition to the new Citi card, Costco accepted all other Visa cards. All TrueEarnings card accounts and balances held by American Express were sold to Citigroup, and new Costco Anywhere Visa cards were sent to Costco members prior to the switch date. Concurrent with the switch to Visa in their stores, Costco no longer accepted American Express in their US stores, at Costco.com, or through Costco Travel.
Costco was the last major US merchant that exclusively accepted American Express for general-purpose credit cards. In November 2011, Neiman Marcus, which gave similar general-purpose card exclusivity to American Express since 1987, began accepting Visa and Mastercard. Costco's Canadian stores had ended their exclusive deal with American Express in 2014 in favor of one with Capital One and Mastercard. However, the deal with Capital One was different from the Citi deal because Capital One did not buy accounts and balances from American Express. This required Costco Canada members to obtain new cards.
The Costco partnership represented 8%, or $80 billion, of AmEx's billed business and about 20%, or about $14 billion, of its interest-bearing credit portfolio, according to Richard Shane of JPMorgan Chase & Co.
Typical credit card business model
When a consumer makes a purchase using a credit or charge card, a small portion of the price is paid as a fee (known as the merchant discount), with the merchant keeping the remainder. There are typically three parties who split this fee amongst themselves:
- Acquiring bank: the bank which processes credit card transactions for a merchant, including crediting the merchant's account for the value charged to a credit card less all fees.
- Issuing bank: the bank which issues the consumer's credit card. This is the bank a consumer is responsible for repaying after making a credit card purchase. The issuer's share of the merchant discount is known as the interchange fee.
- Network: the link between acquiring banks and issuing banks. These banks have relationships with a network, rather than with each other, for fulfilling card purchases. This allows a card issued by a community bank in Peru to be used at a shop in South Africa, for instance, without requiring the banks to have a direct relationship with each other. The two largest networks in the world are Visa and MasterCard. American Express operates its own network.
The average merchant discount in the United States is 1.9%. Of this, approximately 0.1% goes to the acquirer, 1.7% to the issuer, and 0.09% to the network.
Most Prime and Superprime card issuers use the majority of their interchange revenue to fund loyalty programs like frequent flyer points and cash back, and hence their profit from card spending is small relative to the interest they earn from card lending.
American Express currently has over 109.9 million cards running on its proprietary network, these include consumer, small business and corporate cards issued by American Express themselves and cards issued by its Global Service Network partners that run on its network (such as Commonwealth Bank, Westpac and NAB in Australia and Lloyds Bank and Barclays Bank in the UK).
American Express is best known for its iconic Green, Gold, and Platinum charge cards, and offers credit cards of similar color levels in most countries.
In the 1950s, American Express issued its first charge card, which caught on quickly in the booming postwar economy and signaled the company's transition to a wider consumer base. In 1966, the company issued its first gold card, in an effort to cater to the upper echelon of business travel. Its platinum card debuted in 1984 and continues to be immensely popular as it is second in exclusivity only to the Centurion Card.
In 1999, American Express introduced the Centurion Card, often referred to as the "black card," which caters to an even more affluent and elite customer segment. The card was initially available only to select users of the Platinum card. The annual fee for the card is $2,500 (up from $1,000 at introduction) with an additional one-time initiation fee of $7,500. American Express created the card line amid rumors and urban legends in the 1980s that it produced an ultra-exclusive black card for elite users who could purchase anything with it.
American Express cards range between no annual fee (for Blue and many other consumer and business cards) and a $450 annual fee (for the Platinum card). Annual fees for the Green card start at $95 (first year free), while Gold card annual fees start at $125.
American Express has several co-branded credit cards, with most falling into one of three categories:
- Airlines: e.g., Aerolineas Argentinas, Air Canada, Air France, Alitalia, British Airways, Cathay Pacific, Delta Air Lines, Icelandair, KLM, Qantas, Scandinavian Airlines, Singapore Airlines, SriLankan Airlines, Virgin Atlantic, Virgin Australia, among others.
- Hotels: e.g., Best Western, Hilton Hotels. Starwood Hotels & Resorts Worldwide
- Retailers: e.g., David Jones, Holt Renfrew, Harrods, Macy's, Bloomingdales, Lowe's, Mercedes Benz, and others.
Their card aimed at young adults is called Blue from American Express. A television media campaign for Blue adopted the 1979 UK Synthpop hit "Cars" by Gary Numan as its theme song. Based on a successful product for the European market, Blue had no annual fee, a rewards program, and a multi-functional onboard smart chip. A cashback version, "Blue Cash", quickly followed. Amex also targeted young adults with City Reward Cards that earn INSIDE Rewards points to eat, drink, and play at New York, Chicago and LA hot spots. American Express began phasing out the INSIDE cards in mid-2008, with no new applications being taken as of July 2008.
In 2005, American Express introduced Clear, advertised as the first credit card with no fees of any kind. Other cards introduced in 2005 included "The Knot" and "The Nest" Credit Cards from American Express, co-branded cards developed with the wedding planning website theknot.com.
In 2006, the UK division of American Express joined the Product Red coalition and began to issue a Red Card. With each card member purchase the company contributes to causes through The Global Fund to Fight AIDS, Tuberculosis and Malaria to help African women and children suffering from HIV/AIDS, malaria, and other diseases. As of 2016, this card appears to be discontinued.
In 2009, American Express introduced the ZYNC charge card. White in color, this card was created for people in their 20s and 30s. American Express is no longer taking applications for the ZYNC charge card.
In late 2012, American Express and Walmart announced the launch of Bluebird, a prepaid debit card similar to that of Green Dot. Bluebird is being touted as having some of the benefits of traditional American Express cards, such as roadside assistance and identity theft protection. The card can also be used as a substitute to a traditional checking account. Unlike other such cards, Bluebird is FDIC-insured. Bluebird accounts have standard FDIC deposit insurance and check writing capabilities, and customers can now have Social Security payments, military pay, Tax Return, paycheck and other government benefits deposited directly into their accounts.
American Express credit cards are noted by travel guides, including Rough Guides and Lonely Planet, as being less commonly accepted in Europe than Visa or MasterCard. In an interview with an American Express spokesman in 2010 about card acceptance in the UK, the Daily Mail's financial website ThisIsMoney noted that "The list of places that are taking Amex appears to be growing, rather than slowing, but it seems to be a little hit-and-miss. It's not a good feeling to enter a shop, not knowing whether or not they accept the card." As of February 2016 American Express is one of the partner banks to both Google and Apple's mobile wallet systems (Android Pay and Apple Pay, respectively) meaning that cardholders can use their American Express-issued cards to pay at establishments where NFC payments are accepted.
The company mascot, the Roman Gladiator or Centurion, appears at the center of the iconic Zync, Green, Gold, Platinum, and Centurion cards. The figure and his pose evoke classical antiquity. These cards also feature intricate border and background designs that read "American Express." The designs on these cards, especially the Green card, bear resemblance to those on United States Federal Reserve Notes.
In 2005, American Express introduced ExpressPay, similar to MasterCard PayPass and Visa payWave, all of which use the symbol appearing on the right. It is a contactless payment system based on wireless RFID, where transactions are completed by holding the credit card near a receiver at which point the debt is immediately added to the account. All three contactless systems use the same logo. The card is not swiped or inserted into a smart card reader and no PIN is entered. Many U.S. merchant and restaurant partners now offer ExpressPay, including Meijer, CVS/Pharmacy, Best Buy, Chevron Corporation, Noah's Bagels, and some McDonald's locations. Office Depot has implemented ExpressPay in all 1200 of its stores.
Some notable users of contactless payment include Australia and the UK where contactless (tap and go) is used almost 10 times as often in Australia and almost 5 times more often in the United Kingdom on a per capita basis compared to the United States.
Small business services (also known as American Express OPEN)
American Express offers various types of charge cards for small businesses to manage their expenses, and the company is also the largest provider of corporate cards.
In late 2007, the company announced the new Plum Card as the latest addition to their card line for small business owners. The card provides a 1.5% early pay discount or up to two months to defer payment on purchases. The 1.5% discount is available for billing periods where the cardmember spends at least $5,000. The first 10,000 cards were issued to members on December 16, 2007.
In 2008, American Express made a decision to close all Business Line of Credit accounts. This decision was reached in tandem with the Federal Reserve's approval of American Express's request to become a Commercial Bank.
As of July 2016, American Express has several credit cards designed for small business. These include SimplyCash® Plus Business Credit Card. Cash back earned is automatically credited to the cardholder's statement and other benefits are included. Other cards include the Business Platinum Card from American Express OPEN, the Business Gold Rewards Card from American Express OPEN, the Blue for Business Credit Card from American Express, Business Green Rewards Card from American Express OPEN, the Business Green Rewards Card from American Express OPEN and the Plum Card from American Express OPEN. These cards have return protection, year-end summaries and other tools to help with the business accounting and control.
Commercial cards and services
In 2008, American Express acquired the Corporate Payment Services business of GE, which primarily focused on providing Purchasing Card solutions for large global clients. As part of the $1b+ transaction, American Express also added a new product, called V-Payment, to its product portfolio. V-Payment is unique in that it enables a tightly controlled, single-use card number for increased control.
As of July 2016, American Express offered several business, corporate and travel credit and charge cards and services and data and information services related to their use in the competitive markets for these cards.
The online “American Express @ Work” function gives corporations a site on which to apply for, cancel or suspend cards, monitor policy compliance and track expenses. The cardholder company can create and generate reports for a corporate expense account program, including analytics and data consolidation or integration. Reports can be tailored for various sized companies. Through a Standard Expense Reporting feature in its "Manage Your Card Account site", American Express corporate cards provide cardholders access to pre-populated expense reports. The cardholder needs to annotate expenses and add out-of-pocket charges upon completion of which the report can be downloaded in electronic or paper format.
American Express Corporate Card program can be used with a third-party on-demand expense management tool by Concur, a provider of integrated travel and expense management services. This tool simplifies the creation of expense account reports and the corporate approval process. Corporate card activity, including viewing statements, making payments, setting up alerts and making inquiries and disputing charges, can be managed through an account online or via mobile device through this service.
The corporate cards have benefits including discounts and rebates for travel and transportation, travel and emergency help, travel insurance and baggage protection. Upgrades from the Corporate "Green" Card to the Corporate Gold Card or Corporate Platinum Card, although subject to fees and terms and conditions, have several additional benefits at each card level, such as free breakfast or late checkout at many hotels. The American Express/Business Extra Corporate Credit Card is affiliated with American Airlines and provides a 4% rebate on eligible American Airlines travel purchased with the card.
American Express has a specialized corporate meeting credit card. Another specialized American Express business card is the American Express Corporate Purchasing Card, which can be assigned to individual employees or departments. Reconciliation and accounting services are available to make these functions easier for the corporation.
In December 2000, American Express agreed to acquire the US$226 million credit card portfolio of Bank of Hawaii, then a division of Pacific Century Financial Corp. In January 2006, American Express sold its Bank of Hawaii card portfolio to Bank of America (MBNA). Bank of America will issue Visa and American Express cards under the Bank of Hawaii name.
Until 2004, Visa and MasterCard rules prohibited issuers of their cards from issuing American Express cards in the United States. This meant, as a practical matter, that U.S. banks could not issue American Express cards. These rules were struck down as a result of antitrust litigation brought by the U.S. Department of Justice, and are no longer in effect. In January 2004, American Express reached a deal to have its cards issued by a U.S. bank, MBNA America. Initially decried by MasterCard executives as nothing but an "experiment", these cards were released in October 2004. Some said that the relationship was going to be threatened by MBNA's merger with Bank of America, a major Visa issuer and original developer of Visa (and its predecessor, BankAmericard). However, an agreement was reached between American Express and Bank of America on December 21, 2005. Under the terms of the agreement, Bank of America will own the customer loans and American Express will process the transactions. Also, American Express will dismiss Bank of America from its antitrust litigation against Visa, MasterCard, and a number of U.S. banks. Finally, both Bank of America and American Express also said an existing card-issuing partnership between MBNA and American Express will continue after the Bank of America-MBNA merger. The first card from the partnership, the no-annual-fee Bank of America Rewards American Express card, was released on June 30, 2006.
Since then, Citibank, Wells Fargo, First National Bank of Omaha, USAA, Synchrony Financial, and US Bancorp have started issuing American Express cards. Citi issues the Macy's and Bloomingdale's American Express cards along with Citi-branded cards. Wells Fargo issues American Express cards under their own brand and for Dillard's. US Bancorp issues American Express-branded cards for US Bank along with Elan Card Services, a subsidiary that issues credit cards on behalf of small to midsize banks. Some credit unions, including PenFed, also issue American Express cards. JPMorgan Chase is the largest bank and the only Big Four bank in the US that does not partner with American Express. Instead, JPMorgan made the decision in 2013 to partner with Visa on the ChaseNet closed-loop network that is similar in terms of functionality to the American Express network.
Many retailers do not accept American Express cards. American Express charges merchants significantly higher fees than other credit card providers. In a court case United States v. American Express Co., merchants filed a class action lawsuit against American Express and claimed that charging high fees is a violation of the Sherman Antitrust Act. According to the lawsuit, accepting American Express cards costs merchants the most.
In 2005, American Express released the American Express Travelers Check Card, a stored-value card that serves the same purposes as a traveler's check, but can be used in stores like a credit card. The card has since been discontinued as of October 31, 2007, due to "changing market conditions". All cardholders were issued refund checks for the remaining balances.
During the 1980s, American Express began purchasing stock brokerage firms as part of an expansion. In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm in the United States to form Shearson/American Express. Shearson Loeb Rhoades, itself was the culmination of several mergers in the 1970s as Weill's Hayden, Stone & Co. merged with Shearson, Hammill & Co. in 1974 to form Shearson Hayden Stone. Shearson Hayden Stone then merged with Loeb, Rhoades, Hornblower & Co. (formerly Loeb, Rhoades & Co. to form Shearson Loeb Rhoades in 1979. With capital totalling $250 million at the time of its acquisition, Shearson Loeb Rhoades trailed only Merrill Lynch as the securities industry's largest brokerage firm. After its acquisition by American Express, the firm was renamed Shearson/American Express.
In 1984, Shearson/American Express purchased the 90-year-old Investors Diversified Services, bringing with it a fleet of financial advisors and investment products. Also in 1984, American Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and added it to the Shearson family, creating Shearson Lehman/American Express. In 1988, the firm acquired E. F. Hutton & Co., forming Shearson Lehman Hutton until 1990, when the firm's name became Shearson Lehman Brothers. When Harvey Golub took the reins in 1993 he negotiated the sale of Shearson's retail brokerage and asset management business to Primerica and in following year, spun off of the remaining investment banking and institutional businesses as Lehman Brothers Holdings Inc.
On September 30, 2005, American Express spun off its American Express Financial Advisors unit as a publicly traded company, Ameriprise Financial, Inc.. Due to this, American Express revenues for 2005 are down around $5 billion, however, like-for-like they are up 10.5% in 2005. Also, on September 30, 2005, RSM McGladrey acquired American Express Tax & Business Services (TBS).
On September 18, 2007, Standard Chartered Bank agreed to acquire American Express Bank Ltd, a commercial bank, from American Express Co, for an estimated US$823 million, through a friendly divestiture process.
American Express established a Travel Division in 1915 that tied together all of the earlier efforts at making travel easier, and soon established its first travel agencies. In the 1930s, the Travel Division had grown widely. Albert K. Dawson was instrumental in expanding business operations overseas, even investing in tourist relations with the Soviet Union. Dawson during World War I had been a photographer and film correspondent with the German army. Today the focus of the Travel Division is on business customers and business travel, that is, corporate travel management.
The American Express Publishing Corporation published the Travel + Leisure, Food & Wine, Executive Travel, Black Ink, and Departures magazines until October 1, 2013, when it sold those titles to Time Inc. It publishes American Express Skyguide and is based in New York City. As of February 2014, Time Inc. is restructuring the portfolio of publications.
Don't Leave Home Without Them
In 1975, David Ogilvy of Ogilvy & Mather developed the highly successful Don't Leave Home Without Them ad campaign for American Express Traveler's Cheques, featuring Oscar-award-winning actor Karl Malden. Karl Malden served as the public face of American Express Travelers Cheques for 25 years. In the UK the spokesman was the television personality Alan Whicker.
After Malden's departure, and as the card assumed importance over the traveler's cheques, American Express continued to use celebrities, such as Mel Blanc and ballerina Cynthia Gregory. A typical ad for the American Express Card began with a celebrity asking viewers: "Do you know me?" Although he/she gave hints to his/her identity, the star's name was never mentioned except as imprinted on an American Express Card, after which announcer Peter Thomas told viewers how to apply for it. Each ad concluded with the celebrity reminding viewers: "Don't Leave Home Without It." The "Don't Leave Home Without It" slogan was revived in 2005 for the prepaid American Express Travelers Cheque Card.
The Adventures of Seinfeld & Superman
American Express continues to use celebrities in their ads. Some notable examples include a late 1990s ad campaign with comedian Jerry Seinfeld, including the two 2004 webisodes in a series entitled "The Adventures of Seinfeld & Superman."
My life. My card.
In late 2004, American Express launched the "My life. My card." brand campaign (also by Ogilvy & Mather) featuring famous American Express cardmembers talking about their lives. The ads have featured actors Kate Winslet, Robert De Niro, Ken Watanabe, and Tina Fey; Duke University basketball coach Mike Krzyzewski; fashion designers Collette Dinnigan and Diane von Fürstenberg; comedian and talk show hostess Ellen DeGeneres; golfer Tiger Woods; professional snowboarder Shaun White; tennis pros Venus Williams and Andy Roddick; Real Madrid manager José Mourinho; film directors Martin Scorsese, Wes Anderson, and M. Night Shyamalan; and most recently, singer Beyoncé Knowles.
C F. Frost
Many American Express credit card ads feature a sample American Express Card with the name "C. F. Frost" on the front. This is not a fabricated name; Charles F. Frost was an advertising executive at Ogilvy & Mather.
American Express was one of the earliest users of cause marketing, to great success. A 1983 promotion advertised that for each purchase made with an American Express Card, American Express would contribute one penny to the renovation of the Statue of Liberty. The campaign generated contributions of $1.7 million to the Statue of Liberty restoration project. What would soon capture the attention of marketing departments of major corporations was that the promotion generated approximately a 28% increase in American Express card usage by consumers.
Building on its earlier promotion, American Express later conducted a four-year Charge Against Hunger program, which generated approximately $22 million for a charity[which?] addressing poverty and hunger relief.
In 2006, as part of Bono's Product Red, American Express launched the American Express Red Card with a campaign starred by supermodel Gisele Bündchen. The card, currently available only in the United Kingdom, makes a donation to fight AIDS with every purchase made using the card.[which?]
In May 2007, American Express launched an initiative called the Members Project. Cardholders were invited to submit ideas for projects, and were told American Express was funding the winning project. The winner, a provide clean drinking water project, received $2 million.[which?]
In April 1986, American Express moved its headquarters to the 51-story Three World Financial Center in New York City. After the events of September 11, 2001, American Express had to leave its headquarters temporarily as it was located directly opposite to the World Trade Center and was damaged during the fall of the towers. The company began gradually moving back into its rehabilitated building in 2002.
AMEX Bank of Canada was founded in 1853 in Toronto, however it currently has its headquarters of 3,000 employees in Markham, Ontario (a northern suburb of Toronto), as well as an office in Hamilton, Ontario. The company began operations as a bank on July 1, 1990 following an order-in-council made by the Brian Mulroney government on November 21, 1988. This decision was not without controversy as federal banking policy at the time would not ordinarily have permitted American Express to operate as a bank. It is also a member of the Canadian Bankers Association (CBA) and is a registered member of the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks.
American Express has several offices in the UK, including a 9-story European Service Center, known as Amex House, in the Carlton Hill area of Brighton, England. It is a large white tower block, built in 1977 and surrounded by several other smaller offices around the city. Amex House deals with card servicing, sales, fraud and merchant servicing. The official Europe, Middle East, and Africa HQ is located in the Belgravia district of Westminster, in central London, at Belgrave House on Buckingham Palace Road, SW1; other UK offices are based in Sussex at Burgess Hill. In November 2009, Brighton and Hove City Council granted planning permission for American Express to redevelop the Amex House site.
The Japan, Asia-Pacific, and Australian Headquarters is co-located in Singapore, at 16 Collyer Quay, and in Sydney's King Street Wharf area, with the new state-of-the-art building receiving greenhouse status due to the environmentally friendly workspace that it provides.
The headquarters of the Latin America and Caribbean division is in Fort Lauderdale, FL.
American Express also has a significant presence in India. Its two centres are located at Gurgaon, Haryana and one at Mathura Road, New Delhi. The Indian operations of American Express revolves around the back office customer services operations apart from the credit card business for the domestic Indian Economy, arguably the American Express campus in Gurgaon is the largest employee location by head count for Amex and supports business continuity objectives of Amex including during Hurricane Sandy, the center works 24/7 and includes a co-located second building which was recently transferred to a third party service provider but does much work for Amex.
For 2008, American Express was named the 62nd best company to work for in the United States by Fortune, ranking it number one for bank card companies. In October 2008, Amex Canada Inc. was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc., which was announced by the Toronto Star newspaper.
Management and corporate governance
The officers of the company are listed on the company's website as follows:
- Kenneth Chenault: Chairman and Chief Executive Officer
- Douglas E. Buckminster: President, International Consumer and Global Network Services
- James Bush: Executive Vice President, World Service
- Kevin Cox: Executive Vice President, Human Resources
- William H. Glenn: President, Global Corporate Payments and Business Travel
- Ash Gupta: Chief Risk Officer and President, Risk and Information Management
- John D. Hayes: Executive Vice President and Chief Marketing Officer
- Jeffrey C. Campbell: Executive Vice President and Chief Financial Officer
- Laureen E. Seeger: Executive Vice President and General Counsel
- Thomas Schick: Executive Vice President, Corporate and External Affairs
- Neal Sample: President, Enterprise Growth
- Joshua G. Silverman: President, U.S. Consumer Services
- Stephen J. Squeri: Group President, Global Corporate Services
- Anré Williams: President, Global Merchant Services
The members of the company's board of directors are listed on the company's website as follows:
- Daniel F. Akerson: Managing Director of the Carlyle Group
- Charlene Barshefsky: Former United States Trade Representative
- Ursula M. Burns: President of Xerox Corporation
- Kenneth I. Chenault: Chairman and CEO of American Express Co.
- Peter Chernin: Former President and COO, News Corporation
- Vernon E. Jordan, Jr.: Senior Managing Director with Lazard Freres & Co. LLC
- Jan Leschly: CEO of Care Capital LLC
- Richard C. Levin: President, Yale University
- Richard A. McGinn: Former CEO of Lucent Technologies, Partner, RRE Ventures
- Edward D. Miller: Former President and CEO of AXA SA
- Frank P. Popoff: Former Chairman Chemical Financial Corp.
- Steven S. Reinemund: Former Chairman and CEO, PepsiCo Inc.
- Robert D. Walter: Chairman and CEO, Cardinal Health
- Ronald A. Williams: Chairman and CEO, Aetna Inc.
In popular culture
These slogans have been parodied numerous times:
- In The Sopranos episode, "Mr. & Mrs. John Sacrimoni Request...", Christopher Moltisanti concludes his sale of stolen credit card numbers to Middle Easterners with a quip: "Don't leave home without them!" This statement confuses the Middle Easterners, who are unfamiliar with the ad campaign.
- The long-running PBS children's TV series Sesame Street parodied the "Do you know me?/Don't Leave Home Without It" ad campaigns with three skits involving a Muppet character holding a Grown-Up Friend's hand while crossing the street. One skit featured Forgetful Jones (performed by Richard Hunt) with Olivia (Alaina Reed Hall) as his Grown-Up Friend, a second featured Bert and Ernie (Frank Oz and Jim Henson respectively) with Gordon (Roscoe Orman) as their Grown-Up Friend, and the third featured Big Bird (Caroll Spinney) with Bob (Bob McGrath) as his Grown-Up Friend. All three skits ended with the grownups' names being embossed at the bottom of a card resembling an American Express card that had a big human left hand in the middle, with the words "Grown-Up Friend's Hand" above it, and a voiceover saying "A Grown-Up Friend's Hand. Don't cross the street without it."
- Another parody was seen on an episode of the CBS game show Press Your Luck, when the animated "Whammy Character" would give the "Do you know me?" tag line, followed by the display of an Amex card-parody, which then had "WHAMMY" typed in on the bottom line of the card.
- In the pilot episode of "Masquerade (TV series)", a KGB general says the line, "I suppose you never leave home without it", to a KGB agent when he sees that agent's "National American" card.
- In a campaign speech during the 1984 Election, President Ronald Reagan said "If the big spenders get their way, they'll charge everything to your taxpayer's express card, and believe me, they never leave home without it."
- In the final episode of The Dukes of Hazzard, Boss Hogg is shot at by a former associate, the bullet striking a wallet he had kept in his pocket and being lodged in several credit cards. Narrator Waylon Jennings takes note of the situation and says, "I bet he's glad he didn't leave home without them" (referring to his credit cards).
- On the 1997 film Hercules during the song "Zero to Hero", the credit card is "Grecian Express".
- The 1989 movie Major League also parodied the campaign. In one scene, in which every player is dressed in a tuxedo, the Cleveland Indians tell viewers of the film why every player carries the American Express Card with much of the explanation done one line at a time by players Jake Taylor (Tom Berenger), Eddie Harris (Chelcie Ross), Rick "Wild Thing" Vaughn (Charlie Sheen), Pedro Cerrano (Dennis Haysbert), and Roger Dorn (Corbin Bernsen), and Manager Lou Brown (James Gammon). The scene ends with Willie "Mays" Hayes (a tuxedo-clad Wesley Snipes) sliding into home plate in front of the rest of the team, holding up his card and saying to the viewers: "The American Express Card. Don't steal home without it."
- In the film Batman & Robin, Batman pulls out a Bat-Credit card and says he never leaves the cave without it.
- Yakov Smirnoff's book cover, America on Six Rubles a Day (ISBN 978-0-394-75523-6), depicts a Russian card with the slogan "Don't leave home."
- List of foreign exchange companies
- 65 Broadway (Standard & Poors Building)
- American Express Community Stadium
- American Express Gold card dress of Lizzy Gardiner
- History of Wells Fargo
- List of banks
- List of banks in United States
- Franklin P. Buyer, Los Angeles City Council member, 1933–39, managed American Express office
- "American Express, Form 8-K, Current Report, Filing Date Dec 23, 2008" (PDF). secdatabase.com. Retrieved Jan 6, 2013.
- Peter Z. Grossman. American Express: The Unofficial History of the People Who Built the Great Financial Empire. New York: Crown Publishers, 1987. (reprint: Beard Books 2006; ISBN 1-58798-283-8; Chapter 2.)
- Noel M. Loomis, Wells Fargo. New York: Clarkson N. Potter, Inc., 1968
- "Top Management Compensation". Retrieved Aug 30, 2010.
- "2015 annual results". American Express Company.
- "Dow Jones Industrial Average". CNNMoney.com. Retrieved 20 October 2013.
- by $ value. Amex presentation to investors at the Keefe, Bruyette & Woods 2009 Diversified Financials Conference. June 3, 2009
- "American Express to slash 7000 jobs". Sydney Morning Herald. October 31, 2008. Retrieved August 9, 2009.
- "Interbrand.com". Interbrand.com. Retrieved December 18, 2011.
- "World's Most Admired Companies 2011". Fortune. Archived from the original on March 21, 2011. Retrieved March 21, 2011.
- "American Express Logo Review". Company Logos. 2008. Retrieved June 25, 2011.
The initial trademark of 1958 described the gladiator in the American Express logo as a gladiator on a shield whereas the current American Express website lists the logo character as a Gladiator Head Design. However, there are many who believe that the gladiator is a centurion ...
- "Recognizing Responsibility: American Express Company 2007/2008 Corporate Citizenship Report" (PDF). American Express Co. p. 8. Retrieved 2012-07-25.
In 1850, three men — Henry Wells, William G. Fargo and John Butterfield — founded an express company in Buffalo, New York to forward freight and valuables across the united States.
- Kenneth T. Jackson. The Encyclopedia of New York City. The New York Historical Society: Yale University Press, 1995. P. 23.
- New York City Landmarks Preservation Commission; December 12, 1995, Designation List 269; LP-1932
- White, Norval & Willensky, Elliot; AIA Guide to New York City, 4th Edition; New York Chapter, American Institute of Architects; Crown Publishers/Random House. 2000. ISBN 0-8129-3106-8; ISBN 0-8129-3107-6. p.23.
- White, Norval & Willensky, Elliot; AIA Guide to New York City, 4th Edition; New York Chapter, American Institute of Architects; Crown Publishers/Random House. 2000. ISBN 0-8129-3106-8; ISBN 0-8129-3107-6. p.22.
- Host With The Most, TIME, April 9, 1956 issue
- Barham, Peter (January 2016). "The impact of the Great War in 1916.". Great Eastern Journal (165): 14.
- Cole, Robert J. (December 3, 1987). "Shearson Reported To Acquire Hutton In a $1 Billion Deal". New York Times.
- "Shearson Name may Disappear". New York Times. November 10, 1993.
- "American Express - Our Story" (PDF).
- Lanman, Scott; Ari Levy (November 10, 2008). "American Express Gets Fed Approval to Convert to Bank". Bloomberg. Retrieved July 27, 2016.
- "American Express, Form 8-K, Current Report, Filing Date Jul 29, 2009". secdatabase.com. Retrieved Jan 6, 2013.
- "AmEx Gets Out of TARP ; Pays $340M for Warrants". wallstreetpit.com. July 29, 2009. Retrieved August 21, 2009.
- "AmEx gets out of TARP". CNN. July 29, 2009. Retrieved August 21, 2009.
- "OFT Warns Credit Card Providers Off 'Charging Orders'". Choose. November 10, 2010.
- "American Express completes acquisition of Loyalty Partner". March 3, 2011. Retrieved March 7, 2011.
- "What to Expect From Costco's New Deal With Visa". mysanantonio.com.
- "Costco names Citi, Visa as new credit card partners after AmEx deal ends". Los Angeles Times. March 2, 2015. Retrieved July 1, 2015.
- Eichenbaum, Peter (June 17, 2009). "Visa Clashes With Wal-Mart on $48 billion Card Fee". Bloomberg L.P. Retrieved August 9, 2009.
- American Express Company Consolidated Statements of Income
- "Our Company". Retrieved September 21, 2014.
- "List of Credit Card Companies & Networks: Differences, Contact Info & More". Card Hub. Retrieved September 21, 2014.
- "Black American Express Card". Snopes.com. December 6, 2006. Retrieved December 11, 2010.
- "American Express and Walmart Launch Bluebird®: a New Alternative to Debit and Checking Accounts". Retrieved September 21, 2014.
- Kopecki, Dawn. (2013-03-26) AmEx Bluebird Customers Get FDIC Backing, Check-Writing Feature. Bloomberg. Retrieved on 2013-08-16.
- "Travel essentials". Retrieved September 21, 2014.
- "Practical travel information on Money and costs in Denmark - Lonely Planet Travel Information". Retrieved September 21, 2014.
- "British Money". visitlondon.com. April 10, 2007. Retrieved September 21, 2014.
- "Italy Travel F.A.Q. - What is The Best Way to Get Euros and Pay For Things in Italy? - Dream of Italy". Dream of Italy.
- "Why don't more places take American Express? - This is Money". This is Money. Retrieved September 21, 2014.
- "Apple teams with payment networks to turn iPhone into wallet". San Diego News.Net. 1 September 2014. Retrieved 1 September 2014.
- "expresspay merchants". American Express Company. 2011. Archived from the original on July 7, 2011. Retrieved June 14, 2011.
- "American Express Contactless Payments". Retrieved September 21, 2014.
- "In Australia, 'tap-and-go' rules". Financial Review. Retrieved September 21, 2014.
- "American Express, Form 8-K, Current Report, Filing Date Oct 22, 2007". secdatabase.com. Retrieved Jan 6, 2013.
- "Official Plum Card Website". Plumcard.com. Retrieved December 18, 2011.
- Daniel, Ivan. GET.com. Best American Express Cards For Small Business July 7, 2016. Retrieved July 13, 2016.
- "American Express, Form 8-K, Current Report, Filing Date Mar 27, 2008". secdatabase.com. Retrieved Jan 6, 2013.
- DeLuna, JoAnn. Amex Cuts CEO pay, Business Travel News. March 28, 2016. Retrieved July 13, 2016.
- Kerr, Tom. Business Benefits of Amex Corporate Cards Compare Wallet at Compare.com. Retrieved July 13, 2016.
- The Kerr article has an editorial note which reads: "This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by American Express.
- American Express Corporate Meeting Card information page. Retrieved July 13, 2016.
- American Express Corporate Purchasing Card information page. Retrieved July 13, 2016.
- "American Express, Form 8-K, Current Report, Filing Date Jan 22, 2001". secdatabase.com. Retrieved Jan 6, 2013.
- "American Express, Form 10-K, Annual Report, Filing Date Mar 12, 2004". secdatabase.com. Retrieved Jan 6, 2013.
- "American Express, Form 8-K, Current Report, Filing Date Feb 2, 2004". secdatabase.com. Retrieved Jan 6, 2013.
- "American Express, Form 8-K, Current Report, Filing Date Jan 24, 2005". secdatabase.com. Retrieved Jan 6, 2013.
- "American Express, Form 8-K, Current Report, Filing Date Dec 23, 2005". secdatabase.com. Retrieved Jan 6, 2013.
- "Florida Merchant Services Provider Gets Full American Express Acquiring Program". Digital journal. Retrieved June 17, 2014.
- "Here's Why American Express Can Charge More Than Visa or MasterCard". The Motley Fool. Retrieved June 16, 2014.
- "No Market Power Needed In 2nd Circ. Vertical Restraint Cases". Law 360. Retrieved June 5, 2014.
- "Five questions with... John Godwin". Buffalo Law Journal. Retrieved June 19, 2014.
- "U.S. judge: Government's antitrust suit vs AmEx may proceed". Retrieved May 7, 2014.
- "American Express, Form 8-K, Current Report, Filing Date Oct 24, 2005". secdatabase.com. Retrieved Jan 6, 2013.
- "American Express, Form 8-K, Current Report, Filing Date Sep 18, 2007". secdatabase.com. Retrieved Jan 6, 2013.
- Clark, Andrew (September 18, 2007). "Standard Chartered buys American Express Bank". The Guardian. London. Archived from the original on April 5, 2010. Retrieved May 2, 2010.
- "Frequently Asked Questions on the Standard Chartered Bank acquisition of American Express Bank" (PDF). AmericanExpress.com. Retrieved Jan 11, 2012.
- "Auditors' Report on the financial statements of Standard Chartered Bank – India Branches under Section 30 of the Banking Regulation Act, 1949, Page 7 , Economic & Political Weekly EPW June 28, 2008" (PDF). standardchartered.co.in. Retrieved Jan 11, 2012.
- "Standard Chartered to Buy American Express Bank Unit (Update4)". Bloomberg. September 18, 2007. Retrieved Jan 11, 2012.
- "Standard Chartered completes acquisition of American Express Bank for $823 million". standardchartered.com. Retrieved Jan 11, 2012.
- "Media It's Official: Time Inc. Buys AmEx's Food & Wine, Travel & Leisure Magazines". Ad Age. Crain Communications. Retrieved 11 October 2013.
- "American Express, Form 10-K, Annual Report, Filing Date Feb 24, 2012" (PDF). secdatabase.com. Retrieved Jan 6, 2013.
- Steigrad, Alexandra (5 February 2014). "Time Inc. Lays Out Restructuring". WWD. Retrieved 5 February 2014.
- Cecil Adams (December 16, 1983). "StraightDope.com". StraightDope.com. Retrieved December 18, 2011.
- Hessekiel, David (31 January 2012). "Cause Marketing Leaders of the Pack". Forbes.com LLC. Retrieved 18 August 2013.
- "Members Project from American Express". Facebook. Retrieved January 9, 2012.
- Peetu. "American Express Rewards". American Express Rewards. Archived from the original on December 19, 2011. Retrieved December 18, 2011.
- Academy of Television Arts & Sciences web site: 59th Emmy Awards Nominees and Winners: Outstanding Commercial - 2007. Retrieved June 10, 2016.
- Advertising Age magazine web site: American Express "Animals" earns the Emmy for Outstanding Commercial September 17, 2007. Retrieved June 10, 2016.
- Newman, Peter C. (July 30, 1990). "The brash new kid on the block. (American Express Co. opens Amex Bank of Canada amid controversy)" (column). Maclean's, July 30, 1990 v103 n31 p33(1)
- Collis, Rose (2010). The New Encyclopaedia of Brighton. (based on the original by Tim Carder) (1st ed.). Brighton: Brighton & Hove Libraries. p. 9. ISBN 978-0-9564664-0-2.
- "100 Best Companies to Work For". CNN Money. Retrieved October 9, 2008.
- "Reasons for Selection, 2009 Greater Toronto's Top Employers Competition".
- American Express: Officers & Directors
- "American Express Names Jeffrey Campbell Chief Financial Officer". Retrieved July 29, 2015.
- "American Express Names Laureen E. Seeger General Counsel". Retrieved September 21, 2014.
- "American Express Appoints Neal Sample President, Enterprise Growth". American Express. Retrieved October 17, 2014.
|Wikimedia Commons has media related to American Express.|