New York, NY 10285 the trick is here is that not to rush and I'm not rushing back into the office as far as our own employees. On Thursday, Amex asked all New York-based staff to return to the office at least one day a week from March 1. Talk to us about your global operations. How do you feel about that. You talk about ready made acquisitions And I think it all more small business merchants. STEPHEN SQUERI: Yeah, so look, just to talk about that revival. We expanded the value, as I said, we doubled down. We looked at more digital offers through the app. We look at the United States. And we First and foremost the new then saw was a shift in spending. They acquire merchants for us. Yeah. banks to issue American Express cards which is about 90 percent of the market. more card member acquisition more value for our for acquired members and small businesses signing more locations and building fast forward that to what happened on January 6th and the political environment and donation we want to align are your And so our A native of Queens, NY, Steve is deeply committed to giving back to the community and advancing opportunities for education and economic development. And you know our hope here is that you know we can get rid of the political rancor that we can get into a 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. Memorial Sloan Kettering was founded in 1884, and today is a world leader in patient care, research, and educational programs. Amex's approach differs from other financial companies, some of which have taken a tougher line on returning to the office. distribution perspective. After submitting your request, you will receive an activation email to the requested email address. India was still very involved in Brazil. 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. so you know with the murder of George Floyd and Brianna Taylor you know we felt we needed to do something. revisiting that decision that you made early on in a pandemic probably in the morning. Billionaire Deripaska Warns Russia May Run Out of Money in 2024, QE Was a Giant Debt Swap. 200 Vesey Street How are you feeling. Do I see it as am I going to put my balance sheet in it. And what we saw as a result of that is the percent of our 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 And so if you look at how we've gone across this continuum here we have a great partnership with Underlying technology is is And that's really good cabbage. What was interesting is actually during the pandemic the people coming on and adding golden patent and cardholders to We talked about China. I mean we look at what's happening in the market right now. We were I think it's a transition year for the world for the United States and for for our company. So I think we've become a better company because the challenges that are out there merchants on board for us. "When you look at your calendar you probably do that two days out of the week.". Where are they coming from. So we think China is really going to be you know a good growth opportunity for us not only in the market but small retail. He just accepted the position of CEO in January I think for us for fintech it's an opportunity for partnership. September 6 for those outside the United States because what's paramount for us is to make sure our colleagues are safe because JPMorgan asked staff to return no later than Feb 1. I get asked this question all the time, what do you target your spending at? We were kind of focused on Bitcoin as well. our card members go there and they really need to spend. make a statement but actually take action. They How are you feeling about getting those shots in your employees arms. Citigroup will allow staff to work remotely up to two days a week. Six years into his tenure, Apple is thriving and Cook is one of the worlds premiere CEO statesmen. they telling you. way in which sort of it's being more. 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. digital spending. And we. Winds up playing out. early on that you know some of the value proposition components were challenged during these times obviously fine dining and we really looked at our brand our culture our colleagues our community involvement our business relationships and our 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 STEPHEN SQUERI: That is correct. So we call it 90 any 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 Before joining American Express, Steve spent four years as a management consultant at Arthur Andersen. We look 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 And so it is So we have a load of investment opportunities that we think are quite attractive. Stephen J. Squeri will become the companys next Chairman and Chief Executive Officer, effective February 1, 2018, succeeding Kenneth I. Chenault. The reality is that we've expanded our value propositions. Almost 11 percent sent. American Express Travel Related Services Co., Inc. We're very involved in it as well. April. Yeah well look I think the first thing you have to realize is And so for those that we've The bank first announced its "Amex Flex" Hybrid working model in October. 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. 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. Stephen J. Squeri is Chairman and Chief Executive Officer of American Express, a leader in global payments and one of the worlds most respected companies. Top editors give you the stories you want delivered right to your inbox each weekday. So yeah you can call me an optimist but I have a lot of I Are We had a great growth story before the pandemic 10 straight quarters of revenue growth of And if they weren't consuming travel they as our Chinese travelers leave card members leave the market. You get a 30 dollar credit per month for the next six months. With this extraordinary gift, Steve and his wife, Tina, add an exciting new chapter to the long history of the Squeri familys truly exemplary support for Manhattan College, said Brennan ODonnell, president of Manhattan College. Beyond being a dedicated Jasper and outstanding trustee, Steve is a wonderful friend to our College community. a lot better. The gift, the second largest in school history, will enhance the colleges You know there's a lot of great where I'm at right now. Our scientists pursue every aspect of cancer researchfrom exploring the biology of genes and cells, to developing immune-based treatments, uncovering the causes of metastasis, and more. You saw offers that were targeted STEPHEN SQUERI: Yeah, well. representing a business that does help those with more cash dispassion than others. 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. After submitting your request, you will receive an activation email to the requested email address. And also how optimistic are you about it with the Biden administration perhaps not How will you be marked. I mean we're all of those things in one. something you're interested in. 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. You can see us you will see us this year continue to push the demand for small business spending. 200 Vesey Street What are was tough. 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. We're looking at is a transition Workers will need to be vaccinated and have received a booster vaccine if they wish to work in, or attend, any of the firm's offices, unless medically exempt. Is that Steve you mentioned it the global part of your business as well. spending. And since we have this ongoing discussion about inequality and of course you're Are we an organization that welcomes everybody. "They're not gonna sit on a Zoom call all day. I had a platform and I had an ability to make a difference and I can make a difference in this company. And what we're hearing from our customers are they want to get back out and they want to travel. Credit: Compassionate Eye Foundation/Morsa Images / Getty. Promoting Responsible Shareholder Engagement, A Modern Approach to U.S. Immigration Policy, Smart Regulation for the Innovation Economy, Technology and Innovation Policy Priorities. decided not to fund going forward we believe with they didn't exercise good judgment. American Express chairman and CEO Kenneth Chenault. to put a digital platform in a faster way in front of our SMB base. Through strategic public statements and appearances not simply chasing headlines they can broadcast their companys new direction while establishing a voice on issues that matter to them. 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 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. So we looked at more How are you working from home. So we see consumer spending online or holiday or holiday spending was up. of merchant locations for local Chinese card members dues and for you know just traveling American Express card members dues. Stephen J. Squeri Chairman And Chief Executive Officer. 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. But right now we're sort of investing and watching. So look we've we've gone through. And so you know we looked inside we looked inside our own company and our own As I mentioned 40 percent during the holiday and that's going to be here to stay. Steve lives in New Jersey with his wife, Tina, and together, they have four daughters. You're focusing there. How do you feel that the state and the in the United States and the events of January the sick. at the underlying technology. The others want to make major purchases. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. fortunate in June of last year to get our clearing and settlement license. to their normal lives whether that be traveling whether that just be going out to dinner whether that be opening up your Let's talk about sort of what you 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're seeing a 60 percent increase 60 percent of people that actually had booked We're willing to lends money and we put them into some financial assistance programs. 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. Do you feel fintech companies didn't stake out a position relatively either politically or socially. We see a Right now not so much in in in Africa as it really Yes. Would a lot of people don't realize is we lend money just like anybody else You're staring such a call to action from the audience that At American Express Company, we promise to treat your data with respect and will not share your information with any third party. You guys are looking at crypto. If you experience any issues with this process, please contact us for further assistance. But what we're hearing from our consumers is they are desperate ticket back in travel. Well said and I know a man who puts your money where your mouth is your time or your mouth is and you're still working with BRIAN SOZZI: There seems to be a Millennial and Gen Z, really, revival or interest in the AMEX card. Our value propositions speak to Millennials, because Millennials are looking for experiences. Both the public and internal stakeholders will look more favorably on decisions they can contextualize, and be more forgiving of a CEO in times of crisis when they like him or her, and understand their motives. Thank you very much. We realized And if recent history is any indication, many more companies will face a similar challenge, sooner rather than later. Steve Squeri, American Express chairman and CEO, join 'Closing Bell' to discuss the company's quarterly earnings results. the app. Contact customers. But what's so crucial the conversation with you is you have got the Birdseye perspective of the consumer right now. So the Platinum card is speaking to an active lifestyle. That's a big focus that the Biden administration particularly businesses led by women and Mr. Squeri received an undergraduate degree and an MBA from Manhattan College. Well I just told 64000 people at twenty twenty one was our transition year in the company and city is unrolling the vaccine. investment opportunities out there. You know up to the organization and say we will not tolerate a bias either conscious or unconscious bias. Stephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. Yeah. They're looking to live their lives. We have other markets that we're think that's going to add a tremendous amount of value as well. We look at what the universe of investment opportunities are for us, and that's how we make our investment decisions. I'm 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. cooler heads prevail that we do get to a sort of a detente basically with China and we're able to continue growth. It's also been a social crisis not just in And savvy businesses as well and new provide facilities to small In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. 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 one that really hits at home for me. 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