American Express Meetings & Events and Maritz Travel Co. are dissolving Maxvantage, the alliance they formed in 2009 to offer strategic meetings management services.
According to MeetingsNet, the split was announced internally to employees and clients in mid-March and is expected to be complete by mid-May.
Issa Jouaneh, vice president and general manager of American Express Meetings & Events, explained the reason for the dissolution: “The decision to dissolve the alliance reflects the evolution of our customers and the separate growth trajectories of our two companies. The market for SMM has evolved since the alliance was established in 2009 to serve clients who were largely focused on end-to-end SMM. Today, our customers want more options to buy solutions that are tailored to their individual needs across the full meetings management spectrum from sourcing-only solutions to end-to-end programs.”
According to reports, Maxvantage’s programs will shift to American Express Meetings & Events or Maritz and only “a handful” of Maxvantage employees will be laid off.
Steve O’Malley, senior vice-president and general manager at Maritz Travel was quoted as saying, “What we are promising our clients and our people is that it’s business as usual. While there’s a great deal going on relative to the transition, in terms of what we’re delivering on a daily basis to our clients, there’s no difference.”