Following Goldman Sachs (GS) and Morgan Stanley (MS)
The Federal Reserve Board on Monday announced its approval of the applications and notices under sections 3 and 4 of the Bank Holding Company Act by American Express Company (AXP) and American Express Travel Related Services Company, Inc., both of New York, New York, to become bank holding companies on conversion of American Express Centurion Bank, Salt Lake City, Utah, to a bank, and to retain certain nonbanking subsidiaries, including American Express Bank, FSB, Salt Lake City, Utah.
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Disclosure (“none” means no position):Long GS, none
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2 replies on “American Express Becomes Bank Holding Company ($AXP)”
Todd, am i missing something?
“Following Goldman Sachs (GS) and Merrill Lynch (MER)”
You mean following Goldman Sachs (GS) and Morgan Stanley (MS), not MER or do i really missing something?
“On September 21, 2008, it was reported that the Federal Reserve allowed Morgan Stanley to change its status from investment bank to bank holding company. “
no you are not..my error