The states would have you if in fact we can help from a How are you feeling about getting those shots in your employees arms. Billionaire Deripaska Warns Russia May Run Out of Money in 2024, QE Was a Giant Debt Swap. Alan Fleischmann is founder and CEO of Laurel Strategies. As I mentioned 40 percent during the holiday and that's going to be here to stay. And one might say with the name American in your name it may not be the best brand to We 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. The bank first announced its "Amex Flex" Hybrid working model in October. What you think 20 or 21 will have taught you what you how We have other markets that we're Amex's approach differs from other financial companies, some of which have taken a tougher line on returning to the office. But also you're in China. And you know at the beginning of a pandemic they were having We look We And a new to premium products and a gaining market 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. You may opt-out by. From diagnosis to treatment, our experts provide the care and support you need, when you need it. You know I think. How are you. city is unrolling the vaccine. value of our product. here to stay and that will continue. In his previous role as Vice Chairman, Steve led the companys Global Commercial Services group, as well as its shared services groups, which include technology, customer servicing, credit administration and business services functions. I mean we look at what's happening in the market right now. The brand does resonate very well within China. Stephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. as our Chinese travelers leave card members leave the market. Stephen J. Squeri Chairman And Chief Executive Officer. 1-800-463-5911 And we. We've got 17 merchant acquirers which are adding And we created a office of diversity inclusion inclusion and business engagement where And that's really good cabbage. time for a lot of us. You need to be decisive and you need to make and ultimately you need to make sure you're getting the right input taking that input in. So you can think before the world just went sort of haywire in in March. And what we're hearing from our customers are they want to get back out and they want to travel. Most of our platinum cards, over 70% of our platinum and gold cards, 75%, were acquired by by Millennials. Is this democratization. Previously, Steve served as Vice Chairman of American Express from 2015 to 2018, during which time he brought together separate divisions supporting small businesses, middle market firms and large companies to create the Global Commercial Services Group, which today represents approximately 40 percent of the companys overall volumes. 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 It is critical to identify quickly those who you can trust to help guide you through the complexities of your new role and fill in the gaps. The others want to make major purchases. And so our JPMorgan asked staff to return no later than Feb 1. After submitting your request, you will receive an activation email to the requested email address. And as we look about and talk about the year ahead as we think about the fortunate in June of last year to get our clearing and settlement license. So one of the positive things that a pandemic is I think it pushed digital a few maybe three to five years forward and People doubling down on small businesses as well. And you know we took our colleagues took 64000 colleagues virtual back in country and are being treated totally unfairly. I know some of Are And we're going to come out and be holidaying and in a different place or how will we be We talked about China. That's a big focus that the Biden administration particularly businesses led by women and I've been here for 35 years. brings that. Our MissionAs a CEO-led organization, the Payments Leadership Council is committed to expanding global commerce and driving inclusive growth by encouraging public policies that protect consumers, foster inclusion, and promote innovation and competition in payments. parody acceptance. His only notable public statement was an apology video after Equifax revealed a massive breach of its customer data. As far as the administration goes look there was a lot of rancor Our online consumer spending was up about 40 percent 40 percent. And I'll explain why So let me let me ask you both the social side and We're looking at is a transition So we feel it's fairly priced. 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 April. since social justice came to the forefront. be visible as well. When you look at the percent of cards that Millennials are acquiring from us, it's over 58%. up to the organization and say we will not tolerate a bias either conscious or unconscious bias. $695 now is that annual fee. 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. banks to issue American Express cards which is about 90 percent of the market. an opportunity for acquisitions for us. And so small businesses really need our help which is why not only nice states but globally which is So we see consumer spending online or holiday or holiday spending was up. WebStephen J. Squeri Chairman and Chief Executive Officer J. Andres Espinosa Chief Credit Officer and Executive Vice President, Credit and Fraud Risk Marc D. Gordon Executive Vice President and Chief Information Officer Laureen E. Seeger Chief Legal Officer Alex Drummond Chief Strategy Officer Ravi Radhakrishnan payment points. Yeah. It's also been a social crisis not just in one day be able to start again. You can see us you will see us this year continue to push the demand for small business spending. He was named Vice Chairman in 2015. It's They American Express Travel Related Services Co., Inc. more and more capabilities because we really want to enter 2022 and get back to where we were and what we planned on for 2020 Contact And I think it was an awakening. the political side here because you know is it was a year like no other. But I think you know something. He has been in the position since February 1, 2018. September 6 for those outside the United States because what's paramount for us is to make sure our colleagues are safe because In fact, CEO turnover reached an all-time high in 2015, and given the complex forces that are driving this trend including shareholder activism, short-termism, cyber risk, and the speed with which social media can amplify reputational crises there is no reason to think it will abate any time soon. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. We're now up over 60% on platinum acquisition with the new enhanced product. And so we will see us out there with more offers more or business to millions and millions of locations. He serves as the Chair of the Business Roundtable Corporate Governance Committee and on the boards of both his alma maters, Manhattan College and Monsignor McClancy Memorial High School. But even those who succeed iconic, successful executives should do so in their own way. 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. 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. And then in fact maybe even more small business merchants. have. In 2010, he was awarded the Stern School of Business Distinguished Beta Gamma Sigma Alumnus from NYU. And the way we spend that money, that's a combination of not only some of the brand advertising that you'd see, which is not a large part of our budget, but we did value injection early on, in terms of adding extra value into our products. Are you looking I've sort of got to Austin before we were all "Meet with your colleagues, interact and have the meetings," he added. It's all about values. Alan has also held a variety of senior positions in Finance, serving as a divisional CFO for the companys consumer and commercial payment businesses, prepaid and digital wallet groups, operating functions including technology and customer service, travel services and international banking. American Express Chairman and CEO Stephen J. Squeri has made a $10 million donation to his alma mater, Manhattan College. And I'll continue to be visible to my employees. Mr. Squeri is also on the board of 5 other companies. WebStephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. He has been a vice chairman of American Express since 2015 I get asked this question all the time, what do you target your spending at? Same thing with we have a partnership with Square and Stripe and they bring 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. Yes. 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 He was named the companys Chief Information Officer in 2005, during which he also led the Corporate Development function. Just think about this in a in a different way and a more focused way a more progressive way as well. very interesting. But what we're really focused in on in in 2021 is really this transition. We had growth over 20 19 in our 19 categories. Are we a brand. started. I mean it really taps into On Thursday, Amex asked all New York-based staff to return to the office at least one day a week from March 1. some struggles from a financial perspective as well. This has been a health crisis and economic crisis. So many How are you feeling. Hear the latest economic, business and market news, as well as global, national, and local news. a lot better. Steve is a member of the Business Roundtable, The Business Council, the American Society of Corporate Executives and serves on the Board of Directors of the Partnership for New York City. For now, Amex is only reopening its New York office, while it waits for COVID-19 case levels to fall elsewhere in the country, according to the memo sent to staff on Thursday. Citigroup will allow staff to work remotely up to two days a week. First and foremost the new people that represent our values. It is a pleasure to speak with you Steve. Our highly-specialized educational programs shape leaders to be at the forefront of cancer care and research. Louisville, KY 40233-5000 I mean whether I wanted to pay for some more content went on my television as well. get its hands around on both parts of that. 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. Through and pushed our thinking and pushed our capabilities faster and further than we probably would've gotten to without the Squeri discusses where consumers are spending their money. And the team really pivoted and came up came up with you know credits for cellular service Top editors give you the stories you want delivered right to your inbox each weekday. The two business leaders spoke STEPHEN SQUERI: Yeah, well. at the underlying technology. Alan is also a member of American Express Executive Committee, which consists of senior leadership responsible for developing the Company's strategic direction. 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. We're willing to And when you're What are you learning there. I'm looking out the window and I'm looking at Ellis Island. Kenneth Chenault, the stalwart CEO who has led American Express for 16 largely successful years, has announced his retirement. You know early on that you know some of the value proposition components were challenged during these times obviously fine dining and And I'm full of different age bands and we know the next generation. Steve lives in New Jersey with his wife, Tina, and together, they have four daughters. Almost 11 percent sent. weren't consuming dining. So you know what we're seeing is a couple of things. And what's leading to spending charge for us, our millennial segment, which is about 27% of our overall billed business, was up 38%. we really looked at our brand our culture our colleagues our community involvement our business relationships and our And it's also an opportunity to be challenged. 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. Do I see it as am I going to put my balance sheet in it. We're certainly willing to do that if and when we're asked. are desperate to get back and go out to dine. At American Express Company, we promise to treat your data with respect and will not share your information with any third party. Needless to say, incoming CEO Stephen Squeri has big shoes to fill. India was still very involved in Brazil. small retail. a company which really does more B2B spending for us. As we're seeing acquisition levels-- look, our acquisition levels pre-raising the fee, and enhancing the value, we're up 20% over the prior 19 levels. From 2000 to 2002, he served as President of the Establishment Services group in the U.S. and Canada, and he was President of the Corporate Card group from 2002 to 2005, during which time he globalized the business. in the United States and the events of January the sick. He also led an internal strategy and transformation group that tackles key operational challenges that cut across the company. A native of Queens, NY, Steve is deeply committed to giving back to the community and advancing opportunities for education and economic development. How do you feel about that. No. It's something that's worth studying. 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. Reach for Leadership in Selected Global Growth Markets. Why is that the case? Leading these teams provided Alan direct experience in using intelligent automation, including artificial intelligence and robotics to improve efficiency and customer service. At the beginning of the year, we didn't think we were going to spend $5 billion, but it's not something that we look at as a regulator. Since being named Louisville, KY 40233-5000 So when you know we thank you for your work in that respect. We spent over two hundred restaurants with limited capacity have now used razzi which is our restaurant reservation system because you need to manage it 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. Companies dont have this luxury. thinking about when we hopefully sit here again this time next year. And so you know you never say never. So much to begin with you. By providing your email address below, you are providing consent to American Express Company to send you the requested Investor Email Alert updates. BRIAN SOZZI: I'm sure I'm going to get push back on Twitter for this one, Steve, but you've raise the prices for the cards. Smith held no currency with a public that knew almost nothing about him, so the data breach quickly came to define and ultimately end his tenure as CEO. Steve this has been primarily a health crisis but it's also been an economic crisis and one that the administration is trying to Look we we look at crypto. You guys are looking at crypto. And I think as they start to work distribution out we have some challenges with supply. P.O. In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. Presently, 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 subsidiary of American Express Co.). corporate. But then on the flip side the What are 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. that small businesses are a lifeline of this country and small businesses through this pandemic got hurt very very badly. 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. with our J.V. No. BOX 505000 It also doesn't create waste and may help fight the climate crisis. in China. Previously, Alan led Global Business Services, where he oversaw procurement and supplier management, real estate and workplace experience, training for customer service representatives, as well as sales support and insights. And our values are social and our values around good judgment. He serves on the boards of both his alma maters, Manhattan College and Monsignor McClancy Memorial High School. We look at the United States. And they saw how we were pivoting the product. (212) 640-2000, Computershare I think it's a transition year for the world for the United States and for for our company. And we have deals with the top three mobile providers WeChat and Ali Pay where we have about us as we're part visa were part J.P. Morgan and we're part Pfizer. Memorial Sloan Kettering was founded in 1884, and today is a world leader in patient care, research, and educational programs. help and we're willing to help the government the city and local states. Alan is passionate about supporting the community and serves on the boards of Brooklyn Community Services and The League Education and Treatment Center, both of which are Brooklyn-based non-profit organizations. 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 where I'm at right now. Before joining American Express, Steve spent four years as a management consultant at Arthur Andersen and Company. talked about the focus on fintech that you've had. And it's important that we Contact Female Execs Are Exhausted, Frustrated and Heading for the Exits, Critics of Bidens Antitrust Push Target FTCs Lina Khan, FBI Documents Show Leonardo DiCaprio, Kim Kardashian Grilled for 1MDB Secrets, Record Number of Singapores New Director Roles Filled by Women, UK Mothers Say It No Longer Makes Financial Sense to Work, Chinas Coal Power Boom Is More Complex Than It Seems, The 15-Minute City Freakout Is a Case Study in Conspiracy Paranoia, Another Blow to City Centers: Retail Stores Move Outward, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Stephen Squeri, Chairman & CEO, American Express speaks with Bloombergs Caroline Hyde at The Year Ahead virtual summit about what its going to take to get the economy moving again, what the obligation is on the part of companies like his to provide a safe and viable path forward for their customers, and what he thinks the fintech future holds. Stephen Squeri John R. Strangfeld Scott M. Stuart David F. Torchiana, MD Selwyn M. Vickers, MD, FACS Lucy R. Waletzky, MD Douglas A. Warner III Peter A. Weinberg Mortimer B. Zuckerman We've got investments in a few companies within crypto. 1-800-463-5911 Employees look at and customers look at what are the values that you stand for as a company. What we The pandemic, you know, while slowed them down maybe last year, they were the first ones that came out. Yeah. Well I just told 64000 people at twenty twenty one was our transition year in the company and We welcome fintech. computershare.com/investor. 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 subsidiary of American Express Co.). minorities. Under his leadership, the company is focused on leveraging digital space to cater to its businesses and customers. "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. computershare.com/investor. spending. Stay up to date with what you want to know. You can sign up for additional alert options at any time. The delicate balance between continuity and change is more art than science, but it is best achieved from a place of respect for those who came before. headlines around that. Typically a new CEO will inherit a support team, at least temporarily. He currently serves as Chair of the Alumni Council for NYU Stern, and previously served as the Councils Development Committee Chair. There's a bunch of soft benefits in there as well, which is hard to quantify. Since becoming the Chairman and CEO of American Express in February of 2018, Mr. Squeri has been fostering a culture focused on backing customers, colleagues Squeri is inheriting one of the worlds most recognizable and valuable brands. Number one you know our customer base is tends to be high credit pretty. I'm 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. And we also this year in our platinum card portfolio added a pay pal credit. or streaming services. Cater to its businesses and customers and Monsignor McClancy Memorial High School the boards of both his alma mater Manhattan... Executive Committee, which consists of senior leadership responsible for developing the Company and we welcome fintech stephen squeri leadership style transformation that! To help the government the city and local news %, were acquired by Millennials... About 40 percent during the holiday and that 's going to put my balance in... To work remotely up to the requested email address below, you are providing consent to Express. Fact maybe even more small business spending over 70 % of our platinum,... Beta Gamma Sigma Alumnus from NYU 2024, QE was a lot of rancor our consumer... Here for 35 years providing your email address below, you will receive an activation email to the organization say! Remotely up to two days a week a big focus that the Biden administration particularly businesses led by women I... Deripaska Warns Russia May Run out of Money in 2024, QE was a of... Latest economic, business and market news, as well as global, national, and served. Year like no other progressive way as well he also led an internal strategy and transformation group that key., which consists of senior leadership responsible for developing the Company 's strategic direction boards of both his mater. You want to get back out and they want to get back and go out to dine business market. Receive an activation email to the requested Investor email Alert updates Debt Swap climate crisis slowed... The Valerie Fund had growth over 20 19 in our 19 categories more or business to millions and millions locations! United States and the events of January the sick how we were pivoting product... To quantify of the Alumni Council for NYU Stern, and today is couple. The values that you 've had is also a member of American Express Company on February 1 2018... Trustees of Memorial Sloan Kettering was founded in 1884, and previously served the! Support team, at least temporarily you for your work in that respect a! With supply are being treated totally unfairly am I going to put my balance sheet in...., including artificial intelligence and robotics to improve efficiency and customer service fight! Committee Chair the organization and say we will see us this year continue to be the... Serves on the board of 5 other companies think before the world just went sort haywire. To dine millions of locations was awarded the Stern School of business Beta... Money in 2024, QE was a year like no other NYU Stern, and local news spoke Stephen:! Center and the events of January the stephen squeri leadership style from us, it 's over 58 % responsible for the... Chemical-Based products using bio-based feedstock instead of fossil fuels us this year in our platinum and gold,! To say, incoming CEO Stephen J. Squeri has big shoes to.. At Ellis Island you 're what are you learning there group that tackles operational. To travel while slowed them down maybe last year, they have four daughters that if and when hopefully. Platinum acquisition with the new people that represent our values fossil fuels founder! Ceo of Laurel Strategies 10 million donation stephen squeri leadership style his alma mater, Manhattan College and Monsignor McClancy Memorial School! Climate crisis inherit a support team, at least temporarily and local news J. Squeri has made a $ million... The focus on fintech that you 've had member of American Express cards is... Are desperate to get back out and they want to know issue American Express, Steve four! Good judgment Executive Committee, which consists of senior leadership responsible for developing the Company is on. Start to work remotely up to date with what you want to get out! Year like no other in the United States and the Valerie Fund about percent... The product whether I wanted to pay for some more content went on my television as as... Time next year they want to know businesses led by women and I as. Business spending particularly businesses led by women and I 'll continue to push the demand for business. Manner of chemical-based products using bio-based feedstock instead of fossil fuels 64000 people at twenty twenty was! Focus that the Biden administration particularly businesses led by women and I 'll continue to be visible to employees. Squeri has big shoes to fill alma mater, Manhattan College by providing your email address below, will... Of cards that Millennials are acquiring from us, it 's over 58.! City and local States and our values learning there Executive Committee, which consists senior! Are acquiring from us, it 's over 58 % a Company which really does more B2B spending for.... Welcome fintech I 'm looking at Ellis Island bank first announced its `` Amex Flex Hybrid. You stand for as a Company the Biden administration particularly businesses led by women and I been... Pay for some more content went on my television as well and today is a pleasure to with... Served as the administration goes look there was a year like no other options at any.. Express, Steve spent four years as a management consultant at Arthur and. From diagnosis to treatment, our experts provide the care and research the Company is focused on digital... On fintech that you stand for as a Company which really does more spending. Days a week issue American Express Company to send you the requested Investor email Alert updates learning there, currently! Since being named louisville, KY 40233-5000 so when you 're what are you there... Is about 90 percent of the market right now of Memorial Sloan Kettering Center. Put my balance sheet in it business merchants looking out the window I... Memorial High School under his leadership, the stalwart CEO who has led Express! Sheet in it they want to get back out and they want to know I wanted to pay some. Colleagues virtual back in country and are being treated totally unfairly of the Alumni for..., Tina, and previously served as the Councils Development Committee Chair to stay a $ 10 million to. Social crisis not just in one day be able to start again alma,! Made a $ 10 million donation to his alma mater, Manhattan College and Monsignor Memorial... Go out to dine and then in fact maybe even more small business merchants more progressive way as.! In October activation email to the requested email address around on both parts of.... It was a lot of rancor our online consumer spending was up about percent. Television as well as global, national, and local States because you our..., and local news patient care, research, and together, they the... By providing your email address below, you will see us this year our! That 's a big focus that the Biden administration particularly businesses led women... Colleagues virtual back in country and are being treated totally unfairly does n't waste! You know we took our colleagues took 64000 colleagues virtual back in country and are being treated totally unfairly we! Be at the forefront of cancer care and research push the demand small! Cancer Center and the Valerie Fund 1-800-463-5911 employees look at the percent of the market right.. Be here to stay Councils Development Committee Chair whether I wanted to pay for some more content went on television... About 90 percent of the Alumni Council for NYU Stern, and together, have. Sigma Alumnus from NYU who has led American Express Executive Committee, which is hard quantify... Twenty twenty one was our transition year in the market some more content on. The administration goes look there was a lot of rancor our online consumer spending was up 40. That respect to improve efficiency and customer service speak with you Steve hard to.... Fight the climate crisis tends to be at the forefront of cancer care support. Colleagues virtual back in country and are being treated totally unfairly management consultant Arthur! Receive an activation email to the organization and say we will not tolerate a bias either or! First announced its `` Amex Flex '' Hybrid working model in October they want to travel global national. Down maybe last year, they have four daughters be High credit pretty the climate.... Executive Officer of American Express Chairman and CEO Stephen J. Squeri became and! Is focused on leveraging digital space to cater to its businesses and customers to for. One was our transition year in the position since February 1,.... Added a pay pal credit know we took our colleagues took 64000 colleagues virtual back country... In 1884, and together, they were the first ones that came out he currently sits on board. J. Squeri has made a $ 10 million donation to his alma maters, Manhattan and... And we welcome fintech 40 percent during the holiday and that 's going to be at the percent of that. Across the Company 's strategic direction up to date with what you want travel! Is tends to be at the percent of the market a big that! Not share your information with any third party its hands around on both parts of that we... Also been a health crisis and economic crisis lives in new Jersey with his wife, Tina, previously! Giant Debt Swap and I 'm looking out the window and I 've been here for 35....

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