American Express

Financial

American Express Company, sometimes known as "AmEx" or "Amex", is a diversified global financial services company that is 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.

  • Its Type

    Financial                     

  • The Thing

    American Express                                  

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  • Accordingly, Sandy was determined to make his mark at his new corporate parent, even though he kept his title as Shearson chairman and CEO. While he initially retained his World Trade Center office with the fireplace, he also took a big corner office on the fortieth floor of the American Express tower. Certain that Cohen could handle the day-to-day operations at the brokerage firm, Sandy rolled up his sleeves to learn as much as he could about the other business units. Sandy’s job as chairman of the executive committee gave him responsibility for strategic planning and financial matters. He planned to use these duties to gain enough influence to persuade Robinson to name him chief operating officer, distinguishing him from his rival Gerstner, who was none too eager to share his business strategies for the flourishing green and gold cards with his new colleague. Indeed, Gerstner actively opposed any efforts by Sandy or his Shearson cronies to “cross-market” brokerage products to his cherished cardholders. What if a cardholder lost money on an investment or advice from Shearson? Gerstner argued. He might blame American Express.

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