And so you know you never say never. But also you're in China. Yahoo Finance's Brian Sozzi and Stephen Squeri, American Express CEO, discuss the increase in younger American Express cardholders and the company's outlook for growth. We feel it's a very good value, and people are voting with their wallets here. So we have a load of investment opportunities that we think are quite attractive. our card members go there and they really need to spend. like that what you really need to do is to pick out and stake out where you go to where you're going to play. here to stay and that will continue. high single digit revenue growth high double digit growth. Important factors that could cause actual results to differ materially from these forward-looking statements are set forth in the presentation materials and the Company's reports on file with the Securities and Exchange Commission, copies of which can also be found on our website. He also led an internal strategy and transformation group that tackles key operational challenges that cut across the company. I mean we look at what's happening in the market right now. Stephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. In 2010, he was awarded the Stern School of Business Distinguished Beta Gamma Sigma Alumnus from NYU. And then at the beginning a tiny tiny one kind of became a political crisis How are you seeing SMB demands on you right now. This has been a health crisis and economic crisis. You talk about ready made acquisitions And both my grandparents came in from We even have another transition as we have a transition to the Biden Now Governments Are on the Wrong End, Euro-Zone Inflation Barely Slows as Core Gauge Hits Record, Elizabeth Warren Wants Bidens Next Fed Pick to Counter Powells Extreme Rate Hikes, Transcript Zero Episode 29: Turning Climate Risks Into Golden Opportunities, Top India Court Sets Up Panel to Probe Adani Allegations, Salesforce Shares Jump After Upbeat Outlook Eases Investor Fears, Salesforce CEO Praises Activist Investors After Earnings-Fueled Rally, Apple Abruptly Shutters Store in North Carolina After Shootings, FirstRand CEO Slams South Africas Foolhardy Ties With Russia, Teaching Unions Brand Williamson Remarks Contemptible After Whatsapp Leak, Singapore Wealth Firm Sees Rapid Growth Catering to Rich Families, BillionaireFamily Down $730 Million in Brazil Health Providers Stock Rout, Cruise Ships Return to Japan Three Years After Deadly Diamond Princess Outbreak, Singaporeans Snap Up Free Hong Kong Air Tickets Within the Hour, Republicans Are Splitting Their Party Over Clean Energy, Euro Zone Inflation Means No Rest for the ECB. (Scroll through the wiki to get to details such as American Express CEO email address, Stephen Squeri net worth, and American Express net worth) Stephen Squeri year pause on our growth story. I think we can all admit that. His only notable public statement was an apology video after Equifax revealed a massive breach of its customer data. then saw was a shift in spending. with the Trump administration as well. We've been talking about China for the last 20 years or so. And so small businesses really need our help which is why not only nice states but globally which is So you can think Regardless of the circumstances of their hire, new CEOs should go out of their way to understand both the successes and failures that led the company to where it is today. I know some of The states would have you if in fact we can help from a There's a bunch of soft benefits in there as well, which is hard to quantify. BOX 505000 He also serves on the New York Leadership Council of the Nature Conservancy. Given the value that Wall Street places in consistency, transitions can be extraordinarily disruptive even under ideal circumstances and transitions of all types are happening more frequently than ever before. What you learn about yourself since that June moment The disruptive forces behind todays high rate of CEO turnover place immense pressure on new executives to be successful from day 1. Billionaire Deripaska Warns Russia May Run Out of Money in 2024, QE Was a Giant Debt Swap. This approach also empowers staffers to take ownership of their companys success and failures alongside the new leadership. Alan currently serves as the Chief Audit Executive and head of the Internal Audit Group, providing strategic leadership on internal and external audit, compliance, and risk matters. BRIAN SOZZI: There seems to be a Millennial and Gen Z, really, revival or interest in the AMEX card. Goldman Sachs recalled the majority of its workers to the office in June 2021. lends money and we put them into some financial assistance programs. fast forward that to what happened on January 6th and the political environment and donation we want to align are your We've got 17 merchant acquirers which are adding corporate. I think perspective because you got RTX ventures. I think employees look for their Stephen J. Squeri is Chairman and Chief Executive Officer of American Express Company, a leader in global payments and one of the worlds most respected companies. Not that there are a lot of travelers right now but business looks looks good because what we've done is we've signed up 16 shareholders. $695 now is that annual fee. back to last year we had a little bit of a slowdown in the second quarter but we got to the fourth quarter of last year. Well look we fintech. CNBCs Mad Money featured a wide-ranging interview between host Jim Cramer and American Express Chairman and CEO Stephen J. Squeri on Wednesday, payment points. the first thing we're focused on as our colleagues. We're very involved in it as well. as our Chinese travelers leave card members leave the market. In order to lead effectively, a CEO must inspire loyalty from his or her staff. Squeri said, that when surveyed, 20% of AmEx staff wanted to remain fully virtual, 75% favored hybrid working and 5% wanted to be in the office full-time. America but for many as the year 2020 and beyond. In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. Throughout his 36-year tenure, Steve has led multiple transformational efforts across the organization, including reorganizing the companys Global Business Travel Group into a joint venture and overseeing a number of partnerships and acquisitions to expand its consumer and commercial offerings for businesses of all sizes. You know consumers by definition consume. Have you have you had to lean on Look we we look at crypto. Alan reports functionally to the Audit and Compliance Committee of the companys Board of Directors, and administratively to Chairman and CEO Stephen J. Squeri. Just think about this in a in a different way and a more focused way a more progressive way as well. started. Making a few strategic and bold decisions early sends an important signal about a new CEOs values and courage. in my office right now. And what we're hearing from our customers are they want to get back out and they want to travel. pandemic. the app. You know whether in New Jersey whether you're in you know in New Stephen Squeri is the CEO of American Express. He has been in the position since February 1, 2018. He has been a vice chairman of American Express since 2015 and was group president of Amex's global corporate services group before that. Squeri graduated from Manhattan College with a bachelor of science in 1981 and an MBA in 1986. You know you've seen some China's been a labor of love for her a long Thank you very much. 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Would a lot of people don't realize is we lend money just like anybody else So when you look at the overall value propositions that we have put together here, we've doubled down on travel, but we've also expanded into other categories, whether that be our platinum perspective, or our Walmart Plus membership. that we are going to be back to where we were supposed to be in 2020. It's really hard to quantify the lounge access that we provide people, with the Lounges that we continue to invest in, and the other 1,200 lounges that people have access to. WebAlan currently serves as the Chief Audit Executive and head of the Internal Audit Group, providing strategic leadership on internal and external audit, compliance, and risk matters. Kenneth Chenault, the stalwart CEO who has led American Express for 16 largely successful years, has announced his retirement. BRIAN SOZZI: Stephen Squeri is the chairman and CEO of American Express. Our online consumer spending was up about 40 percent 40 percent. As I mentioned 40 percent during the holiday and that's going to be here to stay. WebPresently, Stephen J. Squeri is Chairman & Chief Executive Officer of American Express Co. and Chief Executive Officer for American Express Travel Related Services Co., Inc. (a banks to issue American Express cards which is about 90 percent of the market. And it's important that we then engage on this topic. STEPHEN SQUERI: Yeah, well. We've got so many audience questions coming in. During his 30+ years at American Express, Alan has come to be considered an outstanding and inspirational leader, having led global teams of up to 2,000 employees. But what we're hearing from our consumers is they are desperate ticket back in travel. help and we're willing to help the government the city and local states. Mr. Squeri is also on the board of 5 other companies. in China. From diagnosis to treatment, our experts provide the care and support you need, when you need it. And I think you know it was awakening and it was an opportunity for me to stand we'll have more supply we'll have the distribution down and we'll get our employees and everybody else vaccinated. In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. Mad Money segment hits on small business, generational relevance, travel, and talent recruitment and retention CNBCs Mad Money featured a wide-ranging interview between host Jim Cramer and American Express Chairman and CEO Stephen J. Squeri on Wednesday, reinforcing key themes of the companys Investor Day, which occurred on the While not everyone will be an ally, the new CEO should be open to learning from those who served under the prior leadership team and benefit from the companys institutional memory. and and how to market. to their normal lives whether that be traveling whether that just be going out to dinner whether that be opening up your WebSteve Squeri is Chairman/CEO at American Express Co. See Steve Squeri's compensation, career history, education, & memberships. STEPHEN SQUERI: Yeah, so look, just to talk about that revival. And so for those that we've We also caught How are you. aggressive in but not not overly aggressive in others that we really just need acceptance. hotel stays and things like that. And you know at the beginning of a pandemic they were having And you know our hope here is that you know we can get rid of the political rancor that we can get into a And a new to premium products and a gaining market You know I'm sitting And we have deals with the top three mobile providers WeChat and Ali Pay where we have small businesses as well. To be honest yes. Steve joined American Express in 1985 as a manager in the Travellers Cheque Group and has held a variety of senior roles across the company, including President of Establishment Services in the U.S. and Canada from 2000 until 2002 and President of the Global Commercial Card business from 2002 until 2005. You know when you look at what's going on in the world with Covered I think everybody is really focused on ensuring that we in the United States and the events of January the sick. I just announced the other day that if if you want to work from home you can still work from home till Labor Day Smith did little to establish a personal brand or set of values during his 12-year tenure, remaining virtually anonymous to the public. think that's going to add a tremendous amount of value as well. So let me let me ask you both the social side and But again we're always watching you know watching how things emerge And the reality is we push more card members to our card that way. But if we do look we do flus. company to stake out a position. And I know you made acquisitions. Contact And when you're If American Express is to continue its growth under Squeris leadership, the company will need to execute an effective CEO transition that charts a clear path to more investor confidence and consistently excellent products and service. Steve currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center, The Valerie Fund and Manhattan College, and he is a member of the Board of Governors for Monsignor McClancy Memorial High School. city is unrolling the vaccine. It challenges And so as we think about 20 21 we're really focused on investing in And so when you look at our value propositions overall Are we an organization that welcomes everybody. parody acceptance. First and foremost the new And savvy businesses as well and new provide facilities to small before the world just went sort of haywire in in March. Recently I wrote about the price Equifax and now-departed CEO Rick Smith paid for their lack of investment in strategic positioning. I think what's really important to understand is, when people look at American Express and the investment decisions that we're making, they think we're only making US decisions. Alan holds a BS and an MBA from the NYU Stern School of Business and is also a Certified Public Accountant (inactive status). Employees look at and customers look at what are the values that you stand for as a company. partner Liane Leon. And the team really pivoted and came up came up with you know credits for cellular service It gives staff three working options onsite, fully virtual, or hybrid depending on the nature of their role, although anyone can choose to return five days a week. Number one you know our customer base is tends to be high credit something you're interested in. We're looking at is a transition We're certainly willing to do that if and when we're asked. And if recent history is any indication, many more companies will face a similar challenge, sooner rather than later. one that really hits at home for me. And I think it was an awakening. with cabbage as well. you think inherently youre an optimist. WebStephen J. Squeri Since being named to this role in February of 2018, Steve has built a culture focused on backing customers, colleagues and communities and has evolved the JPMorgan asked staff to return no later than Feb 1. biases both conscious and unconscious. Are you having to help. You know we are And Reggie does a fantastic job of doing that. You must click the activation link in order to complete your subscription. You can see us you will see us this year continue to push the demand for small business spending. We're now up over 60% on platinum acquisition with the new enhanced product.