American Express

NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses.

The company's common stock trades on the New York Stock Exchange under the ticker symbolDow Jones Industrial Average and is ranked as the 74th largest company by Fortune. In 2007, BusinessWeek and Interbrand ranked American Express as the 15th most valuable brand in the world, estimating the brand to be worth US$20.87 billion.[1] "AXP." It is one of the 30 stocks that comprise the

The current CEO is Kenneth Chenault, who took over in 2001.

Early history

American Express was founded in 1850, in Buffalo, New York, as a joint stock corporation that was a merger of the express mail companies owned by Henry Wells (Wells & Company), William Fargo (Livingston, Fargo & Company), and John Butterfield (Butterfield, Wasson & Company), as an express business.[citation needed] American Express first established its headquarters in a building at the intersection of Jay Street and Hudson Street in the TriBeCa section of Manhattan, and enjoyed a virtual monopoly on the movement of express shipments (Goods, Securities, Currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings[2].

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