UBS SELECTS AMERICAN EXPRESS, JUNIPER BANK AND VISA TO PROVIDE ITS DUAL-CARD PROGRAM WITH CONSOLIDATED REWARDS FOR UBS WEALTH MANAGEMENT USA CLIENTS
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® (RMA®). 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.
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