American Express spending more to attract cardholders, says CEO
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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.
AmEx has "ramped up spending on cardmember acquisition", he said at the company's annual meeting in New York, while conceding that 2015 was a "disappointing" year for investors. He didn't elaborate on the firm's spending.
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