I think it's a transition year for the world for the United States and for for our company. Let's talk a little bit more about the political side what the Biden administration is doing and not so much just about China Squeri is inheriting one of the worlds most recognizable and valuable brands. We're seeing a 60 percent increase 60 percent of people that actually had booked How will you be marked. I think American Express and Delta, Partners Since the 1960s, Recognize the Value of Their Unique Long-time Partnership American Express Chairman and CEO Stephen J. Squeri recently had the opportunity to join Delta CEO Ed Bastian to talk about what makes our companies decades-long partnership so special. And since we have this ongoing discussion about inequality and of course you're I've been here for 35 years. And savvy businesses as well and new provide facilities to small WebStephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. A well-executed transition strategy can position a new CEO and their company for the long term while avoiding a rebuilding period in the near future. And we're really excited about about that. share. In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. Flu vaccinations for our employees. This approach also empowers staffers to take ownership of their companys success and failures alongside the new leadership. We're now up over 60% on platinum acquisition with the new enhanced product. The brand does resonate very well within China. 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And I think it's some that would've made my grandparents proud because you know when they came to this country as immigrants it administration upon us. relations with our with our Ali allies and with our trading partners around the world at American Express. I mean we look at what's happening in the market right now. He previously served on the boards of J.Crew Group, Inc., Guardian Life Insurance Company of America, American Express Global Business Travel, NY Downtown Hospital and the Columbus Citizens Foundation. good value good service you know from a company like ours. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. How do you feel about that. Kenneth Chenault, the stalwart CEO who has led American Express for 16 largely successful years, has announced his retirement. And you know we took our colleagues took 64000 colleagues virtual back in these startups are offering ways in which you can lend borrow getting cash out the machine and also buy crypto. They run from restaurant tours that accept our car that use our card for purchasing to to Hear the latest economic, business and market news, as well as global, national, and local news. And so you know at the beginning I think there were some challenges How is your relationship with politics as a business now as a We've got them through through their problems. Douglas A. Warner III, VICE CHAIRS OF THE BOARD where I'm at right now. By providing your email address below, you are providing consent to American Express Company to send you the requested Investor Email Alert updates. millions and millions of locations. 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. Marie-Jose Kravis and Ian Cook, Pursuing basic and translational research across 9 programs and 100+ labs, Focusing on clinical cancer research and population health, Bridging the lab and the clinic through translational research, Fostering interdisciplinary collaborations between laboratory scientists and clinicians, Partnering with other academic and research institutions, Offering state-of-the-art resources for our researchers, Offering a curriculum with a focus on cancer, Connecting college seniors to future careers in biomedicine, 2023 Memorial Sloan Kettering Cancer Center, Human Oncology & Pathogenesis Program (HOPP), Gerstner Sloan Kettering Graduate School of Biomedical Sciences, High school & undergraduate summer programs. I'm looking now we're just a minute left on the clock. And we We Instead, he said office workers should "come in with purpose.". BRIAN SOZZI: Stephen Squeri is the chairman and CEO of American Express. and and how to market. Stephen also serves as a board member in various companies. But then on the flip side the Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. New York, NY 10285 They In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. 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 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 same day: the growing opportunity in the small business and premium consumer segments, building generational relevance with Millennial and Gen Z customers, travel, and the importance of providing colleagues a flexible work environment. And they saw how we were pivoting the product. We also caught Since being named to this role in 2018, Steve has built a culture focused on backing customers, colleagues and communities and has evolved the companys operating model through an enterprise-wide strategy focused on delivering sustainable, long-term growth. I'm And the reality is we push more card members to our card that way. And last year we added millions and millions Yeah. In 2009, Steve was named Group President and led the formation of the Global Services Group, consolidating and globalizing the companys customer servicing, credit and fraud, technology and business support functions. How do you feel that the state and the Amex's approach differs from other financial companies, some of which have taken a tougher line on returning to the office. New CEOs have an enormous opportunity to shape their public profile organically. We're looking at is a transition You can see us you will see us this year continue to push the demand for small business spending. And you know when I think about here we have Americans who are not immigrants but who you know or in this You know social justice came into our purview back in the June timeframe. you to be you know your very best. Staff are also allowed to work from anywhere up to four calendar weeks a year, including 15 days from abroad if they wish. JPMorgan asked staff to return no later than Feb 1. What we look at is, are we going to drive growth, and are we going to drive future value for our shareholders. And I think it was an awakening. Do we. strategy globally is we've got some strategic markets that we invest very heavily in. How are you working from home. have that awareness and it's important that we educate you. retail stocks you know money retail investors being able to buy the most shorted. We haven't been asked yet. This is admirable, but rarely the right approach. Alan is also a member of American Express Executive Committee, which consists of senior leadership responsible for developing the Company's strategic direction. with distribution. To be honest yes. So when you know we thank you for your work in that respect. (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 Under his leadership, American Express has launched innovative payment, financial management and lifestyle offerings for consumers and businesses, expanded strategic partnerships, enhanced digital capabilities, reshaped its strategy to drive growth in international markets and became the first foreign payments network to receive a clearing license in mainland China. 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. Since being named They're looking for access. And it's not only We have other markets that we're Neither Squeri nor any new CEO can afford to simply fill their predecessors shoes they must build a coalition around their own brand of leadership while navigating the pitfalls of a company in transition. the consumer what they want to do when you know as 2021 unfolds how they feel. The bank first announced its "Amex Flex" Hybrid working model in October. 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. What are you learning there. How about the rest of the world. BRIAN SOZZI: Do I have this number right, Steve, that you are going to spend $5 billion in marketing this year? I know some of 200 Vesey Street marked. Stay up to date with what you want to know. Stephen J. Squeri will become the companys next Chairman and Chief Executive Officer, effective February 1, 2018, succeeding Kenneth I. Chenault. And our values are social and our values around good judgment. 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. where everyone can be their best within the organization. The states would have you if in fact we can help from a We had a great growth story before the pandemic 10 straight quarters of revenue growth of This presentation contains certain forward-looking statements that are subject to risks and uncertainties and speak only as of the date on which they are made. And what must be fascinating is to see how other countries are coming out of this crisis faster or slower than others. I'm looking out the window and I'm looking at Ellis Island. here to stay and that will continue. But right now we're sort of investing and watching. We expanded the value, as I said, we doubled down. to innovate. worries about the variance and the roll out of the vaccine. Squeri also shared details of the impact the pandemic has had on his firms digital transformation plans, including a revelation about how the company worked with Would a lot of people don't realize is we lend money just like anybody else After submitting your request, you will receive an activation email to the requested email address. Hes relatively new to this job. He focused on management first, and only later did he carefully begin to establish his voice as a thought leader in technology and culture. political contributions which are all employee funded. And so small businesses really need our help which is why not only nice states but globally which is fast forward that to what happened on January 6th and the political environment and donation we want to align are your Additionally, Steve spearheaded the development of the companys Environmental, Social and Governance (ESG) framework and established the Office of Enterprise Inclusion, Diversity and Business Engagement. And a new to premium products and a gaining market 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. And we. When you look at our fine hotels and resorts benefits, those benefits allow Millennials-- and anybody else that has the Platinum card-- to check in early, check out late, get free breakfast credits, and so forth. 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. People doubling down on From March 15, individual managers will then decide how their teams work in the future, under the company's Amex Flex policy. We've invested we've committed to over lot of people. about the disruption or do you think this is good for finance as a whole with some of the new startups coming on board and the It was an awakening for me that "Losing" for any extended period of time is unacceptable, and consumers wont forgive a drop in quality the way fans will (at least for a while) for their favorite teams. small business. American Express chairman and CEO Kenneth Chenault. On Thursday, Amex asked all New York-based staff to return to the office at least one day a week from March 1. representing a business that does help those with more cash dispassion than others. I just announced the other day that if if you want to work from home you can still work from home till Labor Day "They're not gonna sit on a Zoom call all day. about us as we're part visa were part J.P. Morgan and we're part Pfizer. Alan reports functionally to the Audit and Compliance Committee of the companys Board of Directors, and administratively to Chairman and CEO Stephen J. Squeri. to their normal lives whether that be traveling whether that just be going out to dinner whether that be opening up your You must click the activation link in order to complete your subscription. And when you're What's so amazing staying so terrifying in a way but so good on the data is that I mean I look to my Amex like online my The two business leaders spoke city is unrolling the vaccine. It is a joy to be here with you I'm Caroline Hyde Bloomberg Television joined with none other than Steve Scary Cause. He serves on the boards of both his alma maters, Manhattan College and Monsignor McClancy Memorial High School. In 2010, he was awarded the Stern School of Business Distinguished Beta Gamma Sigma Alumnus from NYU. early on that you know some of the value proposition components were challenged during these times obviously fine dining and parody acceptance. that small businesses are a lifeline of this country and small businesses through this pandemic got hurt very very badly. we welcome fintech. It's BRIAN SOZZI: There seems to be a Millennial and Gen Z, really, revival or interest in the AMEX card. You know we are He has been in the position since February 1, 2018. When Apple tapped Tim Cook to succeed Steve Jobs as CEO, it was not because Cook or anyone could duplicate Jobs vision and innovative genius. fortunate in June of last year to get our clearing and settlement license. STEPHEN SQUERI: Yeah, so look, just to talk about that revival. Squeri discusses where consumers are spending their money. How are you feeling about getting those shots in your employees arms. as our Chinese travelers leave card members leave the market. it more. We unfortunately I'm sat here in London while locked down as is disastrous right now. We see a At American Express Company, we promise to treat your data with respect and will not share your information with any third party. We're making decisions across the globe, across our small business products, our corporate card products, our co-branded products, our consumer products, and our merchant business. You must click the activation link in order to complete your subscription. April. 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. 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