American Express 2013 Annual Report Download - page 8

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It’s never easy to make a decision that results in respected colleagues
losing their jobs. We supported their transitions as best we could and
remain thankful for their contributions to the company.
The reengineering announcement was a tough way to begin the year,
but it left us in a stronger financial position in the end. We believe these
actions made us more nimble, more efficient and more effective in
using our resources to drive growth.
GOING FOR GROWTH
Our strong performance and cost controls in 2013 gave us the ability
to invest more than we did in the prior year. We pursued a mix of
opportunities in both traditional and new areas, with different return
horizons.
In our core businesses, we focused on acquiring new Card Members
and merchants globally; expanding our network of card-issuing
partners; and developing new services and capabilities to better
support our customers and business partners.
As a result, we:
• added nearly 5 million cards-in-force worldwide;
• increased average spending per card by making it easier and more
rewarding to do business with American Express;
• expanded our network of card-issuing partners with major new
signings like Wells Fargo, U.S. Bank, and Barclaycard in the U.K.; and
• achieved strong increases in corporate account signings and small
business volumes.
J.D. POWER
American Express
received its seventh
straight J.D. Power award
for “Highest Customer
Satisfaction Among
U.S. Credit Card
Companies.” American
Express has received
this award every year
that it has been given.
AMERICAN EXPRESS COMPANY
6