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Rating:Amex Board O.K.'s Spin-Off Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 25, 2005

Amex Board O.K.'s Spin-Off

by: Sean Hanna, Editor in Chief

The board of directors for American Express voted Wednesday to move forward with the spin-off of the credit card firm's brokerage business. The spin-off was announced by American Express in February. In May, the brokerage unit adopted Ameriprise Financial as its new name.

American Express shareholders will receive on share of Ameriprise for every five shares of American Express Financial that they hold. The distribution will be made on September 19.  

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