AmEx CEO Says Customers Are Going Everywhere Except the Office

American Express Co. Chief Executive Officer Stephen Squeri said corporate travel will never be the same again after Covid-19 forced millions of employees to work from home.

U.S. consumers staged a robust comeback in the final three months of the year, with spending on travel and entertainment surpassing pre-coronavirus levels. Such spending by AmEx’s large and global corporate customers, meanwhile, remains just a third of what it was before the pandemic.