American Express India appoints Sanjay Khanna as chief executive officer

In his new role, Sanjay Khanna will be leading several business development initiatives for American Express, while steering collaboration across its diverse businesses in India

American Express Banking Corp on Monday appointed Sanjay Khanna as its chief executive officer (CEO) and country manager, the company announced in a statement.

Khanna, at present, heads the country executive team and is responsible for driving growth across the organisation’s consumer and commercial businesses.

In his new role, Khanna will be leading several business development initiatives for American Express, while steering collaboration across its diverse businesses in India, the company said, adding his position will be key to strengthening the company’s strategic focus in the country.

“I am pleased to welcome Sanjay to this new role. With over 30 years of experience in the industry, Sanjay has exceptional credentials of delivering strong results coupled with a natural knack for leading from the front.  We are confident that his commitment to excel in everything he does, his strong values and work ethics will further the brand’s leadership in the Indian market," said Rob McClean, executive vice president, international card services, American Express.

Khanna has spent about 27 years with American Express, joining as manager of finance in 1996. In his previous roles, he held many leadership positions in the company, including head of Global Financial Operations, India Center Lead for Finance and chairman of the American Express India Pvt Limited Legal Entity Board. He also led large-scale enterprise projects, multiple business transformation initiatives and established a number of centers of excellence. 

Detailing his appointment, Khanna said, “India is undoubtedly one of the fastest growing economies of the world, characterised by its ever-expanding consumer base, evolving lifestyle and spending needs. As a premium payment solution brand, American Express has a definitive competitive edge in providing high-quality service. My role will be to further enhance the quality and service culture through premium products, service and solutions to meet the ever-growing needs of the affluent population in India.”

On August 25, the Reserve Bank of India lifted the ban on new customer acquisition by American Express which was imposed with effect from May 2021 due to non-compliance with local data storage norms.

Companies such as Mastercard, Visa, American Express and Diners’ Club have been required to store Indian payments data locally since October, 2018. This was done to provide the reserve bank “unfettered supervisory access”.

“We welcome the decision by the Reserve Bank of India, which enables American Express Network to onboard new customers effective immediately," said Khanna, who was the interim country manager and COO then.

When the ban was imposed, American Express had 1.51 million credits, which fell to 1.36 million as of June end this year.