Investment Industry

Will AmEx survive the loss of critical clients such as Christopher Burch?

Investment Industry
The decision by the renowned entrepreneur Christopher Burch to discontinue his usage of American Express Co. cards and switch to JP Morgan Sapphire Reserve Card this year was an indication of the state of affairs at the AmEx Company. All was not rosy, and they were slowly losing grip on the market. Though AmEx has gotten a new Chief Executive, Stephen Squeri after the exit of Kenneth Chenault, the new incoming chief has a lot of work to do to ensure that AmEx regains control of its previous business performance. The company is facing increased competition from banks and other firms such as Paypal Holdings, whose net worth has been skyrocketing.   Additional article on businessinsider.com. There is uncertainty, which some of the investors can attest to, about the prospect of the compa