Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY (AXP)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

American Express : AmEx Executive Suspended Over Probe

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/09/2019 | 02:48am EST

By AnnaMaria Andriotis

American Express Co. suspended a director in its foreign-exchange department as part of its ongoing investigation into pricing practices in the division, according to people familiar with the matter.

Foreign-exchange employees were informed last month on a company call that the director, Taylor Simonin, was suspended, the people said. Mr. Simonin oversaw account development staff who help foreign-exchange salespeople and assist clients with currency conversions, they said.

Mr. Simonin didn't respond to requests for comment. A spokeswoman for AmEx said the company's investigation is ongoing.

In July, The Wall Street Journal, citing current and former employees, reported that AmEx's foreign-exchange international payments department routinely increased currency-conversion rates without notifying customers in order to boost revenue and employee commissions. The practice occurred until early 2018 and dated back to at least 2004, current and former employees told the Journal.

"Using our online portal, customers see our offered foreign exchange rates before they place an order," said AmEx's spokeswoman, Marina Norville. "They're given time to make a decision, which also gives them an opportunity to compare our offered all-in rates with the rates offered by other providers."

AmEx's foreign-exchange business, which largely serves small and midsize businesses, accounts for less than half of a percentage point of the company's total revenue.

In September, the Journal reported that the Federal Bureau of Investigation was investigating AmEx's foreign-exchange pricing practices to determine whether the company misrepresented pricing to clients in order to win their business. The Journal also reported that the Office of the Comptroller of the Currency also was looking into how AmEx disclosed pricing to customers.

AmEx disclosed in an October regulatory filing that it received investigative subpoenas from the civil and criminal divisions of the Justice Department and inquiries from the Federal Reserve, the Consumer Financial Protection Bureau, the OCC and the Federal Deposit Insurance Corporation.

In the filing, AmEx said it doesn't believe "this matter will have a material adverse impact on [its] operations or results."

Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN EXPRESS COMPANY
12:14pAMERICAN EXPRESS : Latest 8-K
PU
12:05pAMERICAN EXPRESS CO : Regulation FD Disclosure (form 8-K)
AQ
09:09aAMERICAN EXPRESS : Acquires Pocket Concierge
PU
01/14AMERICAN EXPRESS COMPANY : annual earnings release
01/14THIS WEEK : Delta, American Express results; beige book
AQ
01/12MARKET SNAPSHOT: As Stocks Rally, Most Important Skill Traders Need Isn't Whe..
DJ
01/09AMERICAN EXPRESS : AmEx Executive Suspended Over Probe
DJ
01/08AMERICAN EXPRESS SUSPENDS A DIRECTOR : Wsj
RE
01/08AMERICAN EXPRESS : suspends a director in foreign-exchange pricing probe –..
RE
01/08AMERICAN EXPRESS : Suspends a Director in Foreign-Exchange Pricing Probe
DJ
More news
Financials ($)
Sales 2018 40 442 M
EBIT 2018 11 654 M
Net income 2018 6 355 M
Debt 2018 -
Yield 2018 1,50%
P/E ratio 2018 13,34
P/E ratio 2019 12,15
Capi. / Sales 2018 2,08x
Capi. / Sales 2019 1,93x
Capitalization 84 094 M
Chart AMERICAN EXPRESS COMPANY
Duration : Period :
American Express Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN EXPRESS COMPANY
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 112 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive Vice President
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN EXPRESS COMPANY3.39%84 094
CAPITAL ONE FINANCIAL CORPORATION7.08%38 556
DISCOVER FINANCIAL SERVICES7.14%21 230
BAJAJ FINANCE-3.79%20 657
ORIX CORPORATION5.91%20 317
SYNCHRONY FINANCIAL10.19%18 579