American Express
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ABOUT THIS COMPANY:
More than a card
While the consumer public knows American Express for its ubiquitous plastic, the company is much more than its line of credit cards and Roman gladiators that adorn them. The company, which began over 150 years ago as an express mail business set up to serve a rapidly expanding nation, has become a diversified goliath and, after going through several incarnations during its existence, currently operates through four main units: U.S. Card Services, International Card Services, Global Commercial Services, and Global Network & Merchant Services. In 2008, the firm became a bank holding company in order to obtain a loan from the U.S. government's TARP program. American Express repaid that $3.9 billion loan in 2009. In 2010, the firm had a comeback year of sorts, earning $4.1 billion in net income, nearly double what it banked in 2009. Since 2001, American Express has been led by CEO Kenneth Chenault, perhaps the most prominent African-American chief executive in the country (and one of only a handful atop a Fortune 500 company). As of March 2011, the firm had more than 62,000 employees.
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