American Express Tabs Sprint Exec to Head Enterprise Growth Group

July 29, 2010

American Express Company announced it has hired Daniel H. Schulman, who will join the company next month as group president of enterprise growth, a newly created position and business unit. Schulman will be responsible for the company’s global strategy to expand alternative mobile and online payment services, form new partnerships and build revenue streams beyond the traditional card and travel businesses. He will also be responsible for the company’s business development, mergers and acquisitions unit. Revolution Money, the online payments business acquired last year by American Express, will report to Schulman. “New technologies are redefining the payments business and creating opportunities that go beyond our existing businesses,” said Kenneth I. Chenault, CEO of American Express. “The Enterprise Growth group is designed to extend our leadership into the world of alternative payments and create new fee-based revenue streams for the post-recession environment. We will be building on our existing assets while also reaching out to potential partners around the world who can help develop applications for person-to-person payments, virtual currencies for online communities and ways to use mobile technology to market new services and build business with our partners.”