There is one thing Kenneth I. Chenault has on his mind as the newly appointed president of American Express: growth-in global card acceptance, network card services and financial advisory services.
Chenault, however, seems particularly interested in grabbing the piece of the network market that's been denied the charge card-and now credit card-company, and that is American bank issuers. "Banks should have the freedom of choice to market different branded products and different value propositions to specific customer segments," he says. "So (in addition to Visa and MasterCard products) what we believe is that (banks) can also successfully offer an American Express branded product. It is not different than what retailers do. You want to offer name brands with good value."
While card associations may be threatened by American Express, it's proven to be a shrewd player in this industry, and it has the marketing momentum to show for it. ... The appointment of Eugene
Lockhart to president of BankAmerica Corp.'s Global Retail Bank brings vision to a position that was arguably lacking insight in electronic banking strategy. Lockhart has been replaced at MasterCard International. with the promotion of Robert W. Selander ... The Tower Group is still likely smarting from the en mass departure of four of its renowned research analysts-William Bradway, Octavio Marenzi, Barbara Smiley and Deborah Williams. They left to launch their own shop, Needham, MA-based Meridien Research, Inc.