American Express Company - Special Call

American Express Company (AXP)

February 08, 2012 2:30 pm ET

Executives

Compare to:
Previous Statements by AXP
» American Express Management Discusses Q4 2011 Results - Earnings Call Transcript
» American Express Management Discusses Q3 2011 Results - Earnings Call Transcript
» American Express Company Shareholder/Analyst Call

Kenneth I. Chenault - Chairman, Chief Executive Officer, Member of Operating Committee, Chairman of American Express Travel Related Services Company Inc and Chief Executive Officer of American Express Travel Related Services Company Inc

Stephen J. Squeri - Group President of Global Corporate Services and Member of Operating Committee

Edward P. Gilligan - Head of Global Consumer and Small Business Card Issuing Network and Merchant businesses, Vice Chairman and Member of Operating Committee

Louise M. Parent - Executive Vice President, General Counsel and Member of Operating Committee

Daniel T. Henry - Chief Financial officer, Executive Vice President and Member of Operating Committee

Ashwini Gupta - Chief Risk Officer, Member of Operating Committee and President of Risk Information Management & Banking Group

Analysts

Unknown Analyst

Sanjay Sakhrani - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Kenneth I. Chenault

Good afternoon, and welcome to our first financial community meeting of 2012. Here's today's agenda. I'm going to begin by covering our 2011 financial performance, including our strong metrics and the aspects of our business model that made it such a successful year. I'll then spend some time reviewing some outcomes of our multiyear investment strategy. I'll cover the performance of some of our key 2011 investments, with a particular emphasis on how we're capitalizing on opportunities in the digital space.

One area of focus for us, and certainly an area of interest for many of you, is expense margins. Our P&L in 2012 will be marked by the reduction of 2 major benefits, the elimination of payments from Visa and MasterCard related to the 2007-2008 legal settlements and lower credit reserve releases.