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American Express Elects Jay Clayton to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
management
Rhea-AI Summary
American Express Company (NYSE: AXP) has welcomed Walter Joseph “Jay” Clayton to its Board of Directors, effective October 5, 2022. Clayton previously served as the Chairman of the U.S. Securities and Exchange Commission from 2017 to 2020. His experience in regulatory and legal matters, along with a strong background in financial markets, positions him as a valuable asset to the Board. Clayton aims to enhance corporate governance and contribute to the company’s growth plan as stated by Stephen J. Squeri, Chairman and CEO.
Positive
Jay Clayton's extensive regulatory and legal expertise will strengthen the Board's decision-making.
His prior experience as SEC Chairman brings valuable insights into financial markets and governance.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
American Express Company (NYSE: AXP) today announced that Walter Joseph “Jay” Clayton has been elected to its Board of Directors, effective October 5, 2022. Mr. Clayton served as the Chairman of the U.S. Securities and Exchange Commission (SEC) between 2017 and 2020 and is currently a Senior Policy Advisor and Of Counsel at Sullivan & Cromwell LLP.
Jay Clayton (Photo: Business Wire)
“Jay’s deep regulatory and legal expertise and knowledge in financial markets, along with his extensive experience advising organizations on corporate governance matters, will make him a tremendous asset to our Board,” said Stephen J. Squeri, Chairman and Chief Executive Officer of American Express. “I look forward to benefiting from his valuable perspective on our Board as we execute against the company’s growth plan.”
As the 32nd Chairman of the SEC, Mr. Clayton focused on modernizing the regulation and oversight of financial markets to enhance transparency for individual investors and access to capital for businesses, and adapting to advances in technology. During his tenure as Chairman, he also was a member of the President’s Working Group on Financial Markets, the Financial Stability Board, the International Organization of Securities Commissions, and the Financial Stability Oversight Council.
Prior to his government service, Mr. Clayton spent over 20 years at Sullivan & Cromwell, where he was a member of the management committee, co-managing partner of the General Practice Group, and co-head of the Cybersecurity Group. He specialized in mergers and acquisitions, capital markets offerings, and other transactions, while also serving as an adviser to numerous companies on legal and regulatory matters. He rejoined the firm in 2021 in his current role as Senior Policy Advisor and Of Counsel and is focused on advising corporations and public institutions on governance, markets, and regulatory matters.
Mr. Clayton also serves as Non-Executive Chairman of the Board of Directors of Apollo Global Management Inc. He also is a member of the Federal Deposit Insurance Corp.’s Systemic Resolution Advisory Committee.
Mr. Clayton received a B.S. in engineering from the University of Pennsylvania, a B.A. and M.A. in Economics from the University of Cambridge, and a J.D. from the University of Pennsylvania Law School.
Who is Jay Clayton, and what role will he play at American Express?
Jay Clayton is the newly elected member of the Board of Directors at American Express, effective October 5, 2022. He brings significant regulatory and legal experience to the company.
When was Jay Clayton elected to the Board of American Express?
Jay Clayton was elected to the Board of American Express on October 5, 2022.
What experience does Jay Clayton have in the financial industry?
Jay Clayton has extensive experience, including serving as the Chairman of the U.S. Securities and Exchange Commission from 2017 to 2020, focusing on enhancing transparency and access to capital in financial markets.
What impact could Jay Clayton have on American Express’s business strategy?
With his background in regulatory affairs and corporate governance, Clayton is expected to provide valuable perspectives that may enhance American Express's growth strategy.
