By Colin Kellaher
American Express Co. (AXP) on Tuesday said it named Mohammed Badi chief strategy officer, a newly created executive-committee level position, effective Oct. 29.
The New York credit-card company said Mr. Badi is currently senior partner, managing director and global leader of the payments practice and transaction banking at management-consulting firm Boston Consulting Group.
American Express said it created the new post to increase its focus on strategic planning and corporate development activities, which it plans to separate into two distinct groups.
Executive Vice President Lisa Marchese, who heads its corporate development and strategic planning group, will continue to report to Chief Financial Officer Jeff Campbell and retain responsibility for corporate development and the Amex Ventures team, the company said.
AmEx said its strategic planning team, headed by Jon Gantman, will now report to Mr. Badi.
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