Boomberg: AmEx Is Losing Its Millionaires

Discussion in 'Newsstand' started by iolaire, Feb 12, 2015.  |  Print Topic

  1. iolaire
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    iolaire Gold Member

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    AmEx Is Losing Its Millionaires
    As American Express courts ordinary spenders, rivals poach its wealthiest clients
    American Express Co., long the envy of the industry for its wealthy clientele, is fighting to retain its grip on affluent cardholders like Tilson. Rivals including Barclays Plc and JPMorgan Chase & Co. are courting them with enhanced perks, lower fees and more incentives. And as AmEx seeks to diversify by pursuing tech-savvy millennials and underbanked Americans, the risk of eroding its brand—and its biggest source of revenue—is rising.
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