Former SEC chair Jay Clayton joins Amex board

Jay Clayton, who formerly chaired the Securities and Exchange Commission, has joined the board of directors at American Express Co. AXP, -1.38%, the card company announced Thursday. “Jay’s deep regulatory and legal expertise and knowledge in financial markets, along with his extensive experience advising organizations on corporate governance matters, will make him a tremendous asset to our board,” Amex Chief Executive Stephen Squeri said in a release. Clayton served as the SEC chair from 2017 to 2020, and he currently is a senior policy advisor at Sullivan & Cromwell LLP. American Express shares have gained 4.5% over the past three months, though they’re down 17% on a 12-month basis. The Dow Jones Industrial Average DJIA, -1.15%, of which Amex is a component, has slipped 2% over three months as is off 12% over 12 months.