To reflect this, the company purchased the Broadway buildings and site. By 1903, the company had assets of some $28 million, second only to the National City Bank of New York among financial institutions in the city. Kendall on the site of its former headquarters on Hudson Street. : 23 In 1890–91 the company constructed a new ten-story building by Edward H. American Express has long been out of this building, but it still bears a terracotta seal with the American Express Eagle. The designer is unknown, but it has a façade of brick arches that are reminiscent of pre-skyscraper New York. In 1880, American Express built a new warehouse behind the Broadway Building at 46 Trinity Place. The company prospered sufficiently that headquarters were moved in 1874 from the wholesale shipping district to the budding Financial District and into rented offices in two five-story brownstone commercial buildings at 63 and 65 Broadway that were owned by the Harmony family. A stable was constructed in 1867, five blocks north at 4–8 Hubert Street.

The company's first New York headquarters was an 1858 marble Italianate palazzo at 55–61 Hudson Street, which had a busy freight depot on the ground story with a spur line from the Hudson River Railroad. purchased a lot on Vesey Street in New York City as the site for its stables. An advert from 1890 featuring a watchdog on an American Express shipping trunk In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings. For years it enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency, etc.) throughout New York State. in 1852 when Butterfield and other directors objected to the proposal that American Express extend its operations to California.Īmerican Express initially established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called the Tribeca section of Manhattan. Wells and Fargo also started Wells Fargo & Co. Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company).

It was founded as a joint-stock corporation by the merger of the cash-in-transit companies owned by Henry Wells (Wells & Company), William G. In 1850, American Express was started as a freight forwarding company in Buffalo, New York. History Early history Share of the American Express Company, 1865 High-profile cards like the Green, Gold, and Platinum cards cater to frequent travelers and diners with perks tailored to these activities. Each category has several card options with different benefits and reward structures. American Express offers various types of cards including travel and dining cards, everyday spending points cards, and cash back cards. While American Express credit cards are accepted at 99% of US merchants that accept credit cards ( Costco being the notable exception), they are much less accepted in Europe and Asia. Amex began operating airport lounges in 2013, offering access to certain cardholders.Īmex had a 4.61% worldwide market share by payment volume in 2022, compared to 38.73% for Visa and 24% for Mastercard. Amex converted to a bank holding company during the 2007–2008 financial crisis. In the 1990s, it stopped reducing interchange fees for merchants who exclusively accepted Amex cards and expanded market share through targeted marketing campaigns. In the 1980s, Amex acquired and then divested a stake in Shearson. The 'Don't Leave Home Without It' advertising campaign was introduced in 1975 and renewed in 2005. It developed its first paper charge card in 1958, gold card in 1966, green card in 1969, platinum card in 1984, and Centurion Card in 1999. Amex also owns a direct bank.įounded in 1850 as a freight forwarding company, Amex introduced financial and travel services during the early 1900s. In 2023, it was ranked 63rd in the Forbes Global 2000.

Amex is one of the largest US banks, and is ranked 77th on the Fortune 500 and 28th on the list of the most valuable brands by Forbes. That year, Amex handled over $1.6 trillion in purchase volume on its network. 133.3 million Amex cards were in force worldwide as of December 31, 2022, with an average annual spend per card member of US$23,496. Amex is the fourth-largest card network globally based on purchase volume, behind China UnionPay, Visa, and Mastercard. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan. American Express Company ( Amex) is an American bank holding company and multinational financial services corporation that specializes in payment cards.

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