American Express is widely recognized for its businesses offered like credit card, traveler’s cheque and charge card. The common stock of the company deals on New York Stock Exchange and it is under the AXP ticker symbol.
It is among the 30 stocks, which encompass the Dow Jones Industrial Average, and they are ranked 74th largest corporation by the magazine, Fortune. In 2007, Interbrand and BusinessWeek ranked the Amex as the top 15 most worthy brand all over the world, estimating to be valued 20.87 billion US dollars.
American Express then
The company was established in 1850 in New York, being a joint stock company and was unification with an express mail corporation managed by John Butterfield, William Fargo and Henry Wills.
Amex first set up a headquarter in Manhattan, enjoying a domination of the express shipment movements like currency, security, goods and others all through the state of New York. In the year 1874, its headquarters was relocated to Broadway, Manhattan’s financial district.
American Express now
Currently, Kenneth Chenault is the CEO of American Express. He took over the company’s management from CEO Harvey Golub, since 1993 up to 2001.Before that, James Robinson III headed the business from 1977 up to 1993.
They made their version of Travelers Cheque in 1891 in various denominations such as $ 100, $ 50, $ 20 and $ 10. This made the company renowned as a really global company. This additional service was made possible through the aid of Marcellus Flemming Berry.
They interestingly became among the US monopolies that President Roosevelt established an Interstate Commerce Commission examination. As for the company’s travel division, they have established their own in 1915 and it tied all the efforts of making the travel easier. Soon, it established its first owned travel agencies.
The Successful Advertising
“Don’t Leave Home Without It” topped the company in the financial market world. The Ogilvy & Mather developed this in 1975. This ad campaign for the traveler’s cheque of the company featured Karl Malden, an Oscar award-winning actor. He became the face for about twenty-five years.
The ad campaign was a mix of action, news, excitement, and suspense. The famous slogan that made the American Express successfully famous was reintroduced in 2005 for its prepaid traveler’s cheque.
The Amex has major businesses in most states in America with a chief date center at Phoenix, Arizona. There is also an Amex Canada at Toronto. Apart from that, they also have a service center in England, Singapore, Miami, Caribbean, and Latin America regions.