American Express is one of only a few financial service companies in the industry that has the capability to both issue and process electronic payment cards. American Express Company American Express is a publicly traded company in the financial services industry. It offers both credit lending and network processing services which gives it a broad range of competitors in the industry.
Early history[ edit ] American Express Co. October ; signed by William G. American Express initially established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called the Tribeca section of Manhattan. For years it enjoyed a virtual monopoly on the movement of express shipments goods, securities, currency, etc.
InAmerican Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was American express retain through two buildings. The company's first New York headquarters was an marble Italianate palazzo at American express Hudson Streetwhich had American express busy freight depot on the ground story with a spur line from the Hudson River Railroad.
A stable was constructed infive blocks north at 4—8 Hubert Street. The company prospered sufficiently that headquarters were moved in from the wholesale shipping district to the budding Financial District, and into rented offices in two five-story brownstone commercial buildings at 63 and 65 Broadway that were owned by the Harmony family.
American Express has long been out of this building, but it still bears a terracotta seal with the American Express Eagle. Kendall on the site of its former headquarters on Hudson Street.
To reflect this, the company purchased the Broadway buildings and site. The old buildings, dubbed by the New York Times as "among the ancient landmarks" of lower Broadway, were inadequate for such a rapidly expanding concern. After some delays due to the war in Europe, the story neo-classical American Express Co.
Building was constructed in —17 to the design of James L. The building consolidated the two lots of the former buildings with a single address: This building was part of the "Express Row" section of lower Broadway at the time. The building completed the continuous masonry wall of its block-front and assisted in transforming Broadway into the "canyon" of neo-classical masonry office towers familiar to this day  American Express sold this building inbut retained travel services there.
The building was also the headquarters over the years of other prominent firms, including investment bankers J. The watchdog logo, released in by the company to symbolise trust and security Sometime between andJ.
Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credithe found it difficult to obtain cash anywhere except in major cities.
Fargo went to Marcellus Flemming Berry and asked him to create a better solution than the letter of credit. Inat the onset of World War I, American Express in Europe was among the few companies to honor the letters of credit issued by various banks held by Americans in Europe, because other financial institutions refused to assist these stranded travelers.
They were to deliver letters, money and relief parcels to British prisoners of war. Their employees went into camps to cash drafts for both British and French prisoners and arranged for them to receive money from home.
By the end of the war they were delivering tonnes of parcels per day to prisoners in six countries. The interest of the ICC was drawn to its strict control of the railroad express business.
However, the solution did not come immediately to hand. During the winter ofthe United States suffered a severe coal shortage and on December 26 President Woodrow Wilson commandeered the railroads on behalf of the United States government to move federal troopstheir supplies, and coal. Treasury Secretary William Gibbs McAdoo was assigned the task of consolidating the railway lines for the war effort.
All contracts between express companies and railroads were nullified and McAdoo proposed that all existing express companies be consolidated into a single company to serve the country's needs.
Investment banking[ edit ] During the s, American Express embarked on an effort to become a financial services supercompany and made a number of acquisitions to create an investment banking arm.American Express UNSTAGED presents Artists in Residence Cycle 2 – featuring Gavin James, BØRNS, Pia Mia, and Rae Sremmurd.
See their stories, help them unlock amazing opportunities, and . What They Do. We asked American Express to explain what they do. Here is what they had to say. American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.
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