American Express 2004 Annual Report Download - page 25

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Looking ahead, the Bank will continue to focus on serving financial institutions worldwide,
as well as high-net-worth individuals and affluent consumers in markets outside the United
States. AEB’s lines of business and client relationships are closely aligned with our interna-
tional payments business. For example, the Private Bank makes premium card products
available to its wealthy clients, and the Financial Institutions Group provides services to
many banks with which we have card or Travelers Cheque relationships.
Our Culture
Now that I have covered how we did in 2004, I want to share some thoughts about who
we are.
I am convinced that having unique and differentiated business models, well reasoned
strategies and compelling market opportunities mean very little if you do not have strong
values and the right culture to realize your potential.
At American Express, we devote a great deal of time and energy to creating an environ-
ment that:
enables people of all backgrounds to succeed and grow regardless of individual
differences
attracts the best and the brightest to work for us
rewards our people for going above and beyond in the service of our customers
and clients
inspires them to serve our communities to help others in need
sets high standards for excellence and integrity.
In essence, we strive to be the kind of company that employees are proud to work for, cus-
tomers and clients want to be associated with, and shareholders are eager to own. We are
not perfect and we never will be, but we are committed to these ideals and to correcting
our mistakes when we make them.
Over the past four years, we have taken a number of steps to renew and reinforce our cor-
porate values of customer commitment, quality, integrity, teamwork, respect for people,
good citizenship, will to win and personal accountability. We have changed our perform-
ance management process to more closely align our actions with these values. And we have
strengthened leadership development and control and compliance processes across the
company. In all these efforts, we have stressed the paramount importance of integrity —
not out of a reflex reaction to headlines about corporate governance failures across the
business world or increased regulatory scrutiny, but rather because integrity needs to
remain a fundamental characteristic of our brand. AXP
AR.04
—
23
Our Citizenship. Serving the communities in which we live and work is one
of our core values. Through both the company and the American Express Foun-
dation, which marked its 50th anniversary in 2004, we have contributed more
than $450 million over the years in support of charitable organizations around
the world.