The deal, which reportedly values Hogg Robinson at around £400 million, was approved by the EU’s competition authority earlier this week.

Formal confirmation of the acquisition came on Thursday morning (July 19) in a joint statement.
Work to integrate the two companies will start immediately, with GBT targeting growth through utilisation of the two firms’ existing infrastructure and technology and bringing together “the best of both businesses”.

The newly expanded group says it will be able to offer clients “a wider range of products and services”.

Doug Anderson, American Express GBT chief executive, said: “The combination of American Express GBT and HRG will provide clients and travellers with an unrivalled offering.

“I look forward to integrating our companies and combining the vast experience and expertise of both. We’re proud to deliver enhanced value to all stakeholders.”

David Radcliffe, HRG chief executive, added: “The two businesses are focused on delivering further value to clients and travellers.

“I look forward to working with the talented individuals on the American Express GBT Board, and growing a best-in-class travel management company.”

Joanna Macleod, American Express GBT’s executive vice president traveller care, has been appointed chief transformation officer, tasked with integrating the two companies.

William Brindle, HRG chief operating officer, has been appointed chief operating officer American Express GBT.