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."