Amex/Rosenbluth deal finalised
American Express announced yesterday that it has completed the purchase of Rosenbluth International.
The deal creates by far the largest travel management company in the world – the combined volume of the two companies was $18.5 billion in 2002.
Rosenbluth chairman, Hal Rosenbluth will stay on as an advisor until the integration is complete, as will Rosenbluth president and chief operating officer, Alex Wasilov.
Mr Rosenbluth said the company had signed a number of new clients since the initial announcement about the acquisition. These new signings will be taken on by the combined company. A spokeswoman said she expected the Rosenbluth name to disappear gradually.
American Express group president, Ed Gilligan said: “Our cultures are more alike than they are different and we plan to combine the best elements of each company. As one organisation we can provide even better service and more dynamic solutions, as well as deliver to clients the savings benefits that come with economies of scale.”
Read our previous stories:
16-July-2003 Amex to buy Rosenbluth
17-June-2002 Amex row with BA is “dangerous”, says rival
26-March-2002 Amex launches corporate events card in UK
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