Buffett Says AmEx Well Positioned for Competition From JPMorgan
- American Express is ‘quite a castle,’ Berkshire CEO says
- AmEx’s first quarter was a ‘blowout’ success, Buffett says
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American Express Co. is well-positioned to defend against rivals seeking to win wealthy customers, billionaire Warren Buffett said Monday.
AmEx’s first quarter “was really a blowout,” with strong growth in new cardholders and customer spending, Buffett said Monday in an interview with Fox Business Network, where he was asked about increased competition from JPMorgan Chase & Co. Buffett, 86, is chairman and chief executive officer of Berkshire Hathaway Inc., AmEx’s largest shareholder.