Stephen J. Squeri, was appointed CEO and Chairman of The American Express Company, a multinational financial services corporation that specializes in providing credit cards, charge cards, and traveler’s cheques to consumers and businesses worldwide. In February 2018, he replaced Kenneth I. Chenault, a 37-year corporate veteran. Steve Squeri has 33 years of experience with the organization, previously having the role of vice chairman of the company.
His tenure with the organization began in 1985 as a manager. Under his direction, the organization focused on utilizing digital space to serve its businesses and clients. Stephen is also a board member for other companies. The primary business of American Express in 1850 included charge and credit cards, business travel services, and more.
Photo Credits: Bloomberg.com
CEO Stephen Squeri Background
Stephen Squeri, born in 1954, has been the Chief Executive Officer of American Express since February 1, 2018. Stephen has held the position of vice chairman of American Express since 2015. He was previously the President of Amex’s worldwide corporate services group.
Stephen Squeri Family
Steve, the current American Express CEO, is 63 years old. Stephen Squeri’s wife is named Tina. They are situated in New Jersey, their primary residence.
Joseph Squeri, Stephen Squeri’s father, earned a Business Management BS from Manhattan College. Before working at Colgate, CBS, and Bloomingdales.
Stephen Squeri Education
Stephen earned his bachelor’s degree in science at Manhattan College in 1981. Stephen Squeri college finished his Master’s Degree in Business Administration in 1986.
In 1981, Stephen worked as a management consultant for the accounting firm Arthur Andersen for four years. He then served on the boards of directors for J.Crew and the American Life Guardian Insurance Company in 2017.
In addition, Stephen has served as a director for the Valerie Fund and Manhattan College, two affiliated organizations. He also participates in the executive leadership of the high school attended by Monsignor McClancy Memorial High School.
Photo Credits: Twitter
Stephen Squeri Career
In 1985, Stephen started working with American Express as the Manager of the Travellers Cheque Group. His official title was “President.” He is the head of the Establishment Services group in North America.
Stephen served as President of the Corporate Card group from 2002 until 2005. It was the time when he globalized the firm. Then, in 2005, Stephen got promoted to Chief Information Officer and shared responsibility for the Corporate Development department.
Stephen Squeri’s leadership of Amex has been excellent. He oversaw the expansion of the Global Services Group, which resulted in the company’s shared services being centralized and internationalized. Here are some more examples of Squeri’s excellent work.
- Leading American Express through the COVID-19 pandemic: Under Squeri’s leadership, American Express responded quickly to the pandemic by introducing initiatives such as financial assistance programs for its customers and supporting small businesses that were impacted by the pandemic.
- Emphasizing diversity and inclusion: Squeri has prioritized diversity and inclusion at American Express by setting specific goals for increasing the representation of women and people of color in leadership positions, introducing unconscious bias training, and creating a more inclusive workplace culture.
- Innovating the business: Squeri has focused on driving innovation at American Express, particularly in areas such as mobile payments and digital experiences for customers. He has also led the company’s efforts to expand its presence in new markets, such as China and India.
- Strengthening partnerships: Squeri has placed a strong emphasis on forging partnerships with other companies to help American Express grow and expand its offerings. For example, he has led efforts to expand the company’s partnership with Amazon and launched a new co-branded credit card with Hilton.
American Express CEO Stephen Squeri Salary
According to the company’s proxy statement filed with the Securities and Exchange Commission for the fiscal year 2020, his total compensation for that year was $23.8 million, which included a base salary of $1.5 million, stock awards, and other forms of compensation.
Photo Credits: The Wall Street Journal
Stephen Squeri Net Worth
It is estimated that Stephen Squeri’s net worth as of now is somewhere around $218.72 million.
According to American Express’ proxy statement filed with the Securities and Exchange Commission in April 2021, as of March 8, 2021, Stephen Squeri directly owned 322,057 shares of American Express common stock, and had an additional 20,000 shares of unvested restricted stock units.
According to publicly available SEC filings, Stephen Squeri sold a total of 44,306 shares of American Express common stock in 2020. Additionally, in Form 4 filed with the SEC on February 25, 2020, Squeri sold 22,150 shares of American Express common stock on February 24, 2020, at a price of $135.38 per share. Also in Form 4 filed with the SEC on August 27, 2020, Squeri sold an additional 22,156 shares of American Express common stock on August 26, 2020, at a price of $103.89 per share.
Stephen Squeri Political Affiliation
AMEX released a statement on Twitter,
“I have faith that our democratic institutions and the principles upon which they were founded will prevail and that we will get through this together.” – Stephen J. Squeri, CEO of American Express.
Photo Credits: Getty Images
Top Things About American Express CEO Stephen Squeri
1. The role is pretty new to him.
It was just in January 2018 when he assumed the role of CEO. So it is evident that he has not been performing this particular job for extended periods. Despite this, he is familiar with American Express and not new to the finance business. Moreover, he has worked for the company in the past.
2. He was promoted from his former post.
He served the organization for some time as the vice chairman of the board of directors. But, even before then, he had already served in one of the company’s other administrative capacities. So it has given him a solid foundation upon which to grow. And he has demonstrated that he can capitalize on opportunities when they present themselves to him.
3. He went to school at Manhattan College.
He finished all his academic pursuits, including his Bachelor of Science degree, in 1981. Master of Business Administration degree in 1986, which took place at the same university.
4. His job experience includes some of the most prestigious companies.
Before working for American Express, he was a consultant for the accounting company Arthur Andersen. During those years, he gained valuable experience in the financial industry. Before starting his employment with American Express, he worked in the financial field for four years.
5. He is a member of many boards.
He enjoys maintaining a hectic schedule. Stephen is a member of the board of directors for the companies like Guardian Life Insurance Company, J. Crew, and the Valerie Fund. It is difficult to fathom how he manages, but he doesn’t appear to struggle with it in any way.
6. He still works in the field of education.
He is well aware of the significance of education. Therefore, he does everything in his power to promote its advancement. To this day, he places significant importance on his education at Manhattan College. In addition, he helps out the community by being on the Board of Trustees for the college.
7. Due to his efforts, American Express is now recognized in every country.
He had worked for American Express for a considerable time before being promoted to CEO. While serving in one of the executive capacities, he took steps to internationalize the business he oversaw. As a result, many people who are knowledgeable in finance give him credit for transforming the company.
8. His preferred methods of labor are more time-honored ones.
He is familiar with the experience of laboring diligently and devoting one’s entire focus to something. He does not show the slightest bit of fear when going after what he wants. As proof of his success, he can point out things he has done because he has worked hard.
9. He cares deeply about what he does.
Squeri maintains his dedication to the company due to his passion for his work. He thinks making something great is simpler when the person behind is passionate about their work. Therefore, he always made sure that his professional career corresponded with the interests that he had in his personal life.
10. He wishes to see the success of others.
Even though he has achieved a remarkable amount of success, Stephen is well aware of how difficult it can be to thrive in the cutthroat environment of today’s world. And people have better chances of succeeding when they are prepared.
He exerts a lot of effort to help young people realize education’s importance. He helps them find effective ways to access opportunities that are available to them. He knows that if a person can build a wonderful life, that person will perform better.
You can visit Stephen’s social media to learn more about him:
Stephen Squeri Facebook:
https://www.facebook.com/AmericanExpress/
Stephen Squeri LinkedIn
https://www.linkedin.com/in/stevesqueri/
Stephen Squeri Twitter:
https://twitter.com/AmericanExpress.com
Stephen Squeri American Express/CEO FAQs
How old is Stephen Squeri?
Stephen J. Squeri was born on March 18, 1959.
Where exactly does Stephen Squeri live?
Stephen Squeri house is in Queens, New York. He feels responsible for giving back to his community while working to improve educational and professional prospects. As a result, Manhattan College and Monsignor McClancy Memorial High School have appointed him to their respective boards of trustees.
When did Steve Squeri become CEO?
On February 1, 2018, Stephen Squeri assumed the roles of Chairman and CEO of the American Express Company.
Who is the current CEO of American Express?
The Chief Executive Officer of American Express is Stephen Squeri. Since February 1, 2018, he has served in this capacity. In 2015, Stephen served American Express as vice chairman. Before that, he held the position of group president of Amex’s worldwide corporate services group.
Who owns Amex?
Berkshire Hathaway is a major shareholder of American Express, and has held a significant stake in the company for many years. As of the end of 2020, Berkshire Hathaway owned approximately 18.9% of American Express’ outstanding shares, making it one of the company’s largest shareholders.
Berkshire Hathaway’s chairman and CEO, Warren Buffett, has been a vocal supporter of American Express over the years, and has praised the company’s business model and management team. In his annual letter to shareholders in 2019, Buffett wrote that American Express has “a very special business” and that the company “earns very high returns on tangible equity while employing very little debt.”
The other major institutional shareholders of American Express are:
- The Vanguard Group, Inc.: The Vanguard Group is a leading investment management firm that held approximately 8.1% of American Express’ outstanding shares.
- BlackRock, Inc.: BlackRock is another prominent investment management firm that held approximately 6.2% of American Express’ outstanding shares.
- State Street Corporation: State Street is a financial services company that held approximately 4.6% of American Express’ outstanding shares.
- Capital World Investors: Capital World Investors is a division of Capital Group, one of the largest investment management companies in the world. It held approximately 3.2% of American Express’ outstanding shares.
- Fidelity Management & Research Company: Fidelity is a financial services company that held approximately 3.0% of American Express’ outstanding shares.