American Express has named Daniel Schulman as
the man to head up Enterprise Growth, a new business unit designed
to expand its mobile and online payment services.
As group president, Schulman will be
responsible for forming new partnerships and building revenue
streams beyond the traditional card and travel businesses, as well
as the company’s business development, mergers and acquisitions
Revolution Money, the online payments business
acquired last year by AmEx, and the Global Prepaid Business will
also report to Schulman.
Kenneth Chenault, chairman and CEO of AmEx
said the new Enterprise Growth unit aims to “develop applications
for person-to-person payments, prepaid products, virtual currencies
for online communities and ways to use mobile technology to market
new services and build business with our partners.”
“To head the new group, we looked outside the industry for a proven
leader who knows how to transform today’s technology into
tomorrow’s products,” he added.
Schulman served as president of wireless operator Sprint Nextel’s
prepaid group since 2009. Before joining Sprint, he was the
founding CEO of Virgin Mobile USA, a mobile virtual operator
acquired by Sprint in 2009.
“I look forward to extending the work that is
already underway and partnering with the community of developers,
entrepreneurs and businesses to help shape a new generation of
products and services,” said Shulman.
Schulman will become a member of the American Express Business
Operating Committee. He will work with Chenault and other members
of the executive group on the company’s overall growth