MindShare held on to the account following a pitch against Interpublic Group's Initiative Media and the Aegis Group-owned Carat.
MindShare has held the business since 1998. Prior to that WPP's Ogilvy & Mather, which also currently handles AmEx's creative business, handled media planning and buying prior to the formation of MindShare.
An American Express spokeswoman said: "With the many changes going on in the marketplace, we wanted to make sure we have the right agency partner."
She added: "The decision was made due to MindShare's combination of resources in multiple markets around the world."
The review began in December last year after the departure of Steve Lazano. He was originally poached from sister agency Mediaedge:cia to head the AmEx account but by September had left to head up US operations for Havas's MPG.
The review excludes the UK market, Japan and Italy, where media is handled by local offices of Carat, Dentsu and Publicis Groupe's ZenithOptimedia respectively.
According to TNS intelligence/CMR American Express spent $357m (£194.5m) in measured media in 2003.
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