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American Express spending more to attract cardholders, says CEO

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Mr Chenault has shuffled his management team and in March announced a renewed focus on lending to bolster profitability at the firm.

New York

AMERICAN Express Co, the biggest US credit card issuer by purchases, is spending more money to attract cardholders and actively seeking retail partners as it works "with a great sense of urgency" to improve results, chief executive officer Ken Chenault told shareholders.