UBS plans to issue American Express charge cards and Visa credit cards to its wealth management clients in the US. The wealth manager will a...

UBS plans to issue American Express charge cards and Visa credit cards to its wealth management clients in the US. The wealth manager will also allow its clients to bundle rewards from both, which has never been allowed before. The new service will be available from the fourth quarter of 2005. UBS in the US automatically offer American Express charge cards to its clients, but clients of its wealth management business will have to apply for a Visa Signature card if they want one. Juniper Bank, a subsidiary of Barclays Bank, is running the credit card program on behalf of UBS. “When it comes to banking and investment activities, clients want the highest level of quality and service,” said Tom Naratil, executive vice president of UBS Wealth Management USA, in a statement. He added: “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.” Barry Rodrigues, head of global network services for the Americas at Amex said: “This program is the first of its kind where you have dual card issuance. UBS, being a preeminent wealth manager, brings a set of customers and clients that is unparalleled as far as we're concerned.”