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Fortune
Fortune
Marco Quiroz-Gutierrez

American Express CEO says his business is in great shape because its wealthy Gen Z clients aren’t hurting at all

(Credit: Stephanie Keith—Bloomberg/Getty Images)
  • American Express is in great shape even as the outlook of the global economy remains shaky. CEO Stephen Squeri said total billed business on Amex cards jumped 7.5% year over year and new-card growth was fueled by Gen Z and millennials, who made up the bulk of new customers.

The world economy is looking increasingly uncertain, but the CEO of American Express says its wealthy customers are doing just fine.

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