UBS announced today that it has designed a new dual-card
program that will give clients access to charge card, credit card and
ATM services through their UBS Resource Management Account(R)
(RMA(R)). The program, which is expected to be offered to UBS Wealth
Management USA(1) clients in the fourth quarter 2005, will be provided
by Juniper Bank, a member of the Barclays Group, who will issue an
American Express-branded charge card and a Visa Signature credit card.
The program will also offer a consolidated rewards program. Clients will accumulate points for both charge and credit card purchases in a single UBS Rewards program instead of dividing point accumulation on two or more cards, as many consumers do today. The points will be redeemable for a broad range of rewards categories, including travel, gift cards and certificates, specialty merchandise and unique experiences that are important to affluent investors.
"When it comes to banking and investment activities, clients want the highest level of quality and service," said Tom Naratil, Executive Vice President, UBS Wealth Management USA. "Our clients will benefit from the choice, simplicity and value provided by our new offering. The creativity and expertise of American Express, Juniper and Visa have helped us create what we believe will be the best card and rewards program available."
"We are delighted to welcome Juniper Bank to the American Express network and to have the UBS-American Express-branded charge card as an integral part of the UBS Resource Management Account," said Barry Rodrigues, Executive Vice President, American Express. "The Card will be customized with high value benefits and distinctive rewards designed to meet specific UBS client spending needs, both at home and around the world, backed by support and on-site service at more than 1,700 American Express Travel Service Offices. Together, Juniper and UBS are powerful additions to the network of bank relationships American Express has been building in the U.S. and around the world."
"We are honored that UBS selected Juniper for this precedent-setting venture," said Jim Stewart, Juniper Bank's President. "This groundbreaking program will offer UBS clients a level of service and rewards unparalleled in the industry."
"UBS and Juniper have raised the bar in their creation of this innovative approach to deliver enhanced value through mainstream payments products," said Elizabeth Buse, Executive Vice President, Product Development and Management, Visa USA. "This unique program takes advantage of the Visa platform, creating a payment choice developed to meet the distinct needs of more affluent consumers like UBS' wealth management clients. With Visa Signature, Juniper Bank will be able to maximize a powerful combination of rewards and benefits to help UBS clients enjoy more in their busy lives."
UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change. UBS is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.
UBS, headquartered in Zurich and Basel, employs around 66,000 people, and has operations in over 50 countries and in all major financial centers.
American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance and international banking. Since 1996 American Express has been aggressively pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express aims to gain even broader reach for its network worldwide. American Express has now established close to 90 card-issuing partnership arrangements in 100 countries.
Juniper Financial Corporation, a member of the Barclays Group, is a leading full-service credit card issuer headquartered in Wilmington, Delaware. Juniper provides co-branded credit cards and credit card services to leading U.S. companies, financial institutions and not-for-profit organizations such as AirTran Airways, Carnival Cruise Lines, Frontier Airlines, Gulf Petroleum, Mazda, Midwest Airlines and Sinclair Oil. Barclays is an international financial services group involved in banking for more than 300 years. It operates in over 60 countries, with 76,200 employees and over 2,900 branches worldwide. For information about partnership opportunities with Juniper, please contact partners@juniper.com. Additional information about the company and its products and services can be found at www.juniper.com. "Juniper" is a trademark of Juniper Financial Corporation.
Visa is the world's leading payment brand and largest payment system, enabling banks to provide their consumer and business customers with a wide variety of payment alternatives. Nearly 21,000 financial institutions worldwide rely on Visa's processing system, VisaNet, to facilitate more than $3 trillion in annual transaction volume with virtually 100-percent reliability. Cardholders in more than 150 countries carry more than 1 billion Visa-branded cards, accepted at millions of locations worldwide. Within the United States, nearly 14,000 financial institutions issue 458 million Visa cards, accounting for more than $1.3 trillion in annual transaction volume. Visa offers a trusted, reliable and convenient way to access and mobilize financial resources - anytime, anywhere, anyway.
(1) UBS Wealth Management USA operates under the broker-dealer name UBS Financial Services Inc., a subsidiary of UBS AG.
The program will also offer a consolidated rewards program. Clients will accumulate points for both charge and credit card purchases in a single UBS Rewards program instead of dividing point accumulation on two or more cards, as many consumers do today. The points will be redeemable for a broad range of rewards categories, including travel, gift cards and certificates, specialty merchandise and unique experiences that are important to affluent investors.
"When it comes to banking and investment activities, clients want the highest level of quality and service," said Tom Naratil, Executive Vice President, UBS Wealth Management USA. "Our clients will benefit from the choice, simplicity and value provided by our new offering. The creativity and expertise of American Express, Juniper and Visa have helped us create what we believe will be the best card and rewards program available."
"We are delighted to welcome Juniper Bank to the American Express network and to have the UBS-American Express-branded charge card as an integral part of the UBS Resource Management Account," said Barry Rodrigues, Executive Vice President, American Express. "The Card will be customized with high value benefits and distinctive rewards designed to meet specific UBS client spending needs, both at home and around the world, backed by support and on-site service at more than 1,700 American Express Travel Service Offices. Together, Juniper and UBS are powerful additions to the network of bank relationships American Express has been building in the U.S. and around the world."
"We are honored that UBS selected Juniper for this precedent-setting venture," said Jim Stewart, Juniper Bank's President. "This groundbreaking program will offer UBS clients a level of service and rewards unparalleled in the industry."
"UBS and Juniper have raised the bar in their creation of this innovative approach to deliver enhanced value through mainstream payments products," said Elizabeth Buse, Executive Vice President, Product Development and Management, Visa USA. "This unique program takes advantage of the Visa platform, creating a payment choice developed to meet the distinct needs of more affluent consumers like UBS' wealth management clients. With Visa Signature, Juniper Bank will be able to maximize a powerful combination of rewards and benefits to help UBS clients enjoy more in their busy lives."
UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change. UBS is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.
UBS, headquartered in Zurich and Basel, employs around 66,000 people, and has operations in over 50 countries and in all major financial centers.
American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance and international banking. Since 1996 American Express has been aggressively pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express aims to gain even broader reach for its network worldwide. American Express has now established close to 90 card-issuing partnership arrangements in 100 countries.
Juniper Financial Corporation, a member of the Barclays Group, is a leading full-service credit card issuer headquartered in Wilmington, Delaware. Juniper provides co-branded credit cards and credit card services to leading U.S. companies, financial institutions and not-for-profit organizations such as AirTran Airways, Carnival Cruise Lines, Frontier Airlines, Gulf Petroleum, Mazda, Midwest Airlines and Sinclair Oil. Barclays is an international financial services group involved in banking for more than 300 years. It operates in over 60 countries, with 76,200 employees and over 2,900 branches worldwide. For information about partnership opportunities with Juniper, please contact partners@juniper.com. Additional information about the company and its products and services can be found at www.juniper.com. "Juniper" is a trademark of Juniper Financial Corporation.
Visa is the world's leading payment brand and largest payment system, enabling banks to provide their consumer and business customers with a wide variety of payment alternatives. Nearly 21,000 financial institutions worldwide rely on Visa's processing system, VisaNet, to facilitate more than $3 trillion in annual transaction volume with virtually 100-percent reliability. Cardholders in more than 150 countries carry more than 1 billion Visa-branded cards, accepted at millions of locations worldwide. Within the United States, nearly 14,000 financial institutions issue 458 million Visa cards, accounting for more than $1.3 trillion in annual transaction volume. Visa offers a trusted, reliable and convenient way to access and mobilize financial resources - anytime, anywhere, anyway.
(1) UBS Wealth Management USA operates under the broker-dealer name UBS Financial Services Inc., a subsidiary of UBS AG.