Carlson Wagonlit Travel (CWT) is a leading global business travel firm, behind American Express. The company manages business travel through more than 35 subsidiaries and several joint ventures spanning more than 150 countries and territories around the globe. In addition to purchasing travel packages and booking trips online, CWT helps clients customize and assess their own travel programs and also provides travel risk management services. CWT is owned by US-based Carlson Companies, which holds a 55% stake, and JP Morgan affiliate One Equity Partners, which owns 45%. It is descended from Europe's Wagons-Lits (literally, sleeping cars) company and from the US's oldest travel agency chain (Ask Mr. Foster).