Amex CEO braces for 'new reality' as profit falls 38%
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New York
AMERICAN Express Co's performance last year was disappointing and chief executive officer Ken Chenault wants investors to know he feels their pain.
"Let me acknowledge that the performance we're discussing today is not what we or you or I are accustomed to seeing from American Express," Mr Chenault, 64, told analysts on Amex's earnings conference call on Thursday. "We recognise that we are operating in a new reality."
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