In a dynamic and wide-ranging conversation in New York City, the Georgia Tech Scheller College of Business welcomed Stephen J. Squeri, Chairman and CEO of American Express, as the featured guest for the Tech Talks Business session. Hosted by Dean Anuj Mehrotra, the event drew students, alumni, and industry leaders for an evening of candid insights into leadership, innovation, and the future of payments.
Squeri, who marked his 40th anniversary with American Express on the day of the event, reflected on his journey from a young analyst to taking the helm at one of the world’s most iconic financial services companies.
“It’s surreal,” Squeri said. “My father was the first of our family born in the U.S.; my grandfather came from Italy through Ellis Island about 100 years ago. Today, my office looks right out at the island. To think his grandson would be running this company is hard to imagine. It is truly the American dream.”
Navigating Legacy and Innovation
As the 11th CEO in American Express’s 175-year history, Squeri emphasized the weight of legacy and the imperative to innovate.
“You’ve got a better chance of getting hit by lightning than becoming CEO of American Express,” he joked. “But the pressure is real. You have to honor the legacy of service, trust, and security while still pushing the company forward.”
He detailed the evolution of the payments industry, highlighting trends such as embedded payments, AI-driven fraud detection, and the rise of generative AI.
“The next big trend is agentic commerce,” Squeri said. “AI will help consumers not only find the best deals but also choose the best payment method based on rewards, warranties, or other benefits.”
Reaching the Next Generation
Addressing perceptions of exclusivity, Squeri clarified that American Express aims to be an aspirational brand, not an exclusive one. He discussed that a majority of the company’s new card acquisitions are from Millennial and Gen Z consumers as a result of the company’s strategic pivots.
“We realized younger consumers want value, experiences, and access,” he said. “The Gold and Platinum cards are now our hottest products among millennials and Gen Zs who do the math and recognize the value.”
Global Expansion and AI Governance
Squeri discussed American Express’s international growth, as the company has grown its accepted merchant locations globally by nearly 5x since 2017. He emphasized the importance of coverage and data-driven strategy in scaling globally.
On AI, Squeri was both optimistic and cautious.
“We’ve used AI since 2010 for credit and fraud decisions,” he said. “But with agentic AI, governance is key. You must ensure data is used in compliance with regulations and that ethical standards are upheld. Our customers are loyal, and they expect us to operate at high standards.”
Leadership and Culture
In a powerful segment on leadership, Squeri shared his “Framework for Winning,” a one-page vision he developed before becoming CEO in 2018.
“Leadership is about leveraging the organization,” he said. “You have to care more about the team than yourself.”
Caring about the team is just what Squeri modeled, encouraging a team-over-the-individual leadership mentality. He recounted eliminating individual and business unit ratings to foster an enterprise-first culture and instituting bonuses for all previously ineligible employees.
“We focused on the enterprise. That’s what drove our growth,” he said. Noting that revenue doubled from 2020, Squeri pointed to the team, stating, “The team did that.”
Looking Ahead
From the future of digital payments to the enduring appeal of physical cards, Squeri emphasized that American Express will continue to meet customers where they are.
“People love the metal card. Even if 70% of spend occurs over digital transactions, they still want something tangible,” he said.
The evening concluded with a standing ovation and an opportunity for the audience to network and make connections in a city known for its robust financial services industry.
Watch the full event:
