American Express Company
Incorporation year : 1850
Headquarter : New York City, US
Present Head (Chairman and CEO) : Stephen Squeri
Chief Financial Officer : Jeffery C. Campbell
Company Introduction
American Express Company is an American multinational financial services corporation. The company is best
known for its credit card, charge card, and traveller’s cheque businesses. In 2016, credit cards using the
American Express network accounted for 22.9% of the total dollar volume of credit card transactions in the US.
It operates in 175 countries with 2,300 offices across the world. It is the parent organisation of three major
companies: American Express Travel Related Services (TRS), The American Express Bank Ltd. (AEBL) and
American Express Financial Advisors.
American Express in India:
In India, the company offers a wide range of travel, financial and network service products. American Express
established its first office in India in 1921 in Kolkata. Since then it has grown to become the leading travel
related services and banking organisation in the country.
American Express is considered a pioneer in offshoring processes to captive centres in India. The company
has set up global back office operations to leverage the skilled manpower available in India:
♦ American Express (India) Private Ltd.: This centre handles accounting and financial processes for
American Express’ businesses around the world.
♦ American Express Global Service Centre: This centre provides support to the company’s card,
financial services and travel-related businesses in the US and other countries.
Company History
American Express was started in 1850 as an express mail business in 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).
Philosophy
Vision: To be a leading provider of payment solutions worldwide.
Mission: Leverage our local and global expertise to be a leading provider of payment solutions for our
customers by delivering high quality, innovative and world-class products and services; while maintaining the
highest standards of governance and ethics.
Wednesday, April 14, 2021