American Express Co. said it will promote David Yowan to corporate treasurer on July 17.
He will succeed Paul H. Hough, who will become the senior vice president for service network partners in consumer, small-business, and merchant services.
Mr. Yowan, whose promotion was announced Friday, will remain a senior vice president. He is currently the assistant treasurer of Amex and the treasurer of its travel-related services unit.
As the corporate treasurer, Mr. Yowan will oversee capital resources and short- and long-term funding, securitization, market risk, and overall cash management. Before joining Amex in 1999, he was the senior vice president of portfolio and risk management for Citigroup Inc.'s global consumer banking business.
Earlier he had been a senior financial analyst with Ayco Corp., a Saratoga Springs, N.Y., provider of financial counseling for corporate executives and high-net-worth individuals. At that time Ayco was a unit of Amex, but the management team bought the unit in 1994. Goldman Sachs Group Inc. bought Ayco nine years later.
