How Chris Burch’s Decision to Use J.P Morgan Chase’s Sapphire Reserve Card Affected American Express

Chris Burch recently decided to sign up as a client of J.P Morgan Chase’s Sapphire Reserve card. Burch has been actively using American Express (AmEx) cards since he became the company’s client in 1979. AmEx is currently striving to maintain its position as a leading card provider. The company’s management team also got a new member Stephen Squeri replaced Kenneth Chenault as board chair and CEO. Squeri must work diligently to regain the trust of high net-worth clients like Chris Burch.

Majority of AmEx’s investors are having doubts regarding the future profitability of the company. This is because AmEx is struggling to be at par with competitors like PayPal and banking institutions. For AmEx to get back on its feet, it should deal with the competition in payment channels that it currently faces. Kennedy Chenault believes that the company is under grave attack due to the competition and disruptions in its payment channels.

AmEx earns its revenue from the monthly payments of credit cards issued to businesses and individuals. The firm also offers loans to companies and individuals to diversify its revenue generation activities. According to a Wells Fargo analyst, Don Fandetti, the appointment of a new CEO and board chair can help save AmEx from its current troubles. This is because the firm was struggling to keep up with its rivals for years with no luck. Squeri’s task is to ensure that these challenges get effective solutions.

One of the ways that Squeri will manage to steer improvement at AmEx is by targeting the millennials. AmEx’s lending solutions helped to improve its revenue this year. By analyzing the company’s previous results, Squeri discovered that the firm lost a lot of money when trying to compete with its rivals. Though the future of AmEx in the credit card business is still unclear, the firm is likely to improve under Squeri’s leadership.   To know the prolific investor’s new and follow on investments, check on prnewswire.com.

About Chris Burch

Chris Burch is a prolific investor and entrepreneur who was among the Forbes list of the world’s billionaires in 2014. Burch got most of his fortune from his interests in the lucrative fashion business. Thanks to his 40 years experience in investing and entrepreneurship, Chris Burch enabled multiple brands to grow. These brands include Voss Water, Jawbone, and Poppin. Read his insights in this article on entrepreneur.com.

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As an alumnus of the Ithaca College, Burch made his debut in the business world back in 1979. He shared a vision of creating a company that dealt with eye apparel products with his brother. Using $2,000 as capital, the brothers registered their first business known as Eagle Eye. Later on, Secure Group acquired Eagle Eye after Burch and his brother enabled the eye apparel business to generate over $165 million in profits.  Continue rading, hop over to bjtonline.com.

Be sure to read this article about his awesome resort, visit  http://www.businessinsider.com/chris-burchs-nihiwatu-resort-is-the-best-hotel-in-the-world-2017-3/#nicknamed-the-edge-of-wilderness-nihiwatu-is-on-the-west-coast-of-sumba-a-remote-indonesian-island-1

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