Swisscard will be fully acquired by American Express as UBS exits the credit card business following the takeover of Credit Suisse. Credit card holders will see no changes, with portfolios under the Credit Suisse brand transferring to UBS, while Swisscard continues to issue cards under American Express, Mastercard, and Visa licenses. UBS remains committed to its credit card operations, although the integration with Swisscard is not aligned with its strategic priorities.
UBS is selling its 50 percent stake in Swisscard to American Express as part of its business streamlining efforts following the integration of Credit Suisse. Customers will see no immediate changes, with existing cards remaining usable until further notice, and new cards expected to be issued in early 2025. Upon completion, American Express will become the sole owner of Swisscard, which will continue managing its card portfolios and acceptance points in Switzerland.
UBS is revising its internal language guidelines regarding sustainability-related products due to concerns over potential backlash from the political right and accusations of greenwashing. Employees are urged to use more complex terminology, such as renaming "debt-for-nature swaps" to "Country Debt Conversion With Associated Sustainable Development Goal Funding," complicating communication in marketing materials. This shift reflects the increasing pressure on financial firms to justify their sustainable offerings amid scrutiny from various political and regulatory fronts.
American Express will acquire UBS's 50% stake in Swisscard, making AmEx the sole owner of the credit card provider. The agreement also includes the transfer of the Credit Suisse brand to Swisscard, which will continue to operate under American Express, Mastercard, and Visa licenses without immediate impact on cardholders or partners.
UBS is selling its 50% stake in Swisscard to American Express, making Amex the sole owner of the credit card provider. Following the sale, Credit Suisse customers will transition to UBS's credit card platform, with no immediate impact on cardholders or merchants. UBS is divesting parts of Credit Suisse's operations as it aligns with its strategic priorities.
UBS is selling its 50% stake in Swisscard to American Express as part of its divestment from the Credit Suisse business acquired last year. The financial terms of the transaction have not been disclosed.
UBS is selling its 50% stake in Swisscard, a credit card provider, to American Express. This move is part of UBS's strategy to offload assets from the Credit Suisse business it acquired last year. The terms of the deal have not been disclosed.
UBS is selling its 50% stake in Swisscard to American Express, making Amex the sole owner of the credit card provider. Following this transaction, Credit Suisse customers will transition to UBS's credit card platform, with no immediate impact on cardholders or merchants. UBS remains committed to its credit card business but finds Swisscard's operations misaligned with its strategic priorities.
UBS is selling its 50% stake in Swisscard to American Express, following its acquisition of Credit Suisse last year. After the transaction, Amex will fully own Swisscard, while Credit Suisse customers will transition to UBS's credit card platform, with no immediate impact on cardholders. UBS remains committed to its credit card business but finds Swisscard's operations misaligned with its strategic priorities.
UBS is selling its 50% stake in Swisscard to American Express as part of its strategy to offload some of the Credit Suisse business acquired last year. The terms of the agreement have not been disclosed.
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