ATLANTA, Aug. 18, 2014 (GLOBE NEWSWIRE) -- UPS® (NYSE: UPS) today announced Ronald Chang, currently vicepresident of UPS Capital Corporation, has been named president of UPSCapital®. This business unit of UPS enables smartertrade through cargo and parcel insurance 1, tradefinance 2 and payment services 3. Changsucceeds Bob Bernabucci, who will retire from the company after 41years. "We are grateful to Bob for his loyal service and contributionto our company," said Kurt Kuehn, UPS chief financial officer."He's built a strong portfolio of products for UPS Capital whichoffers innovative and competitive solutions for our customers. Weare fully confident in Ronald's ability to build upon Bob's solidfoundation and continue leading UPS Capital's growth andcontribution to UPS." Before filling his most recent role, Chang was responsible forleading UPS's corporate development activities, including mergersand acquisitions, joint ventures, strategic alliances anddivestiture activities. From 1999 to 2006, Chang served as thesenior director of mergers and acquisitions, treasury for Europe,Middle East, Africa and Asia (EMEA). Chang completed more than 70 deals in 30 countries makingpossible international expansion of UPS and its subsidiarycompanies. His broad experience throughout the world includesserving as controller for the Pacific Region, one of UPS's largestunits, and finance controller for the Asia-Pacific Region, one ofthe company's fastest growing international subsidiaries. Bernabucci joined UPS in 1973. Early in his career, he filledsignificant roles, such as leading the UPS treasury group andheading the finance team within UPS's corporate strategy groupbefore being named president of UPS Capital in 1999. By leveragingthe three flows of commerce - goods, information and funds - Bobforged financial services and insurance offerings into one businessunit. This integration allowed customers to protect their goods,enhance their cash flow, and safeguard their payments.
About UPSUPS (NYSE:UPS) is a global leader in logistics, offering a broadrange of solutions including the transportation of packages andfreight; the facilitation of international trade, and thedeployment of advanced technology to more efficiently manage theworld of business. Headquartered in Atlanta, UPS serves morethan 220 countries and territories worldwide. The company canbe found on the Web at UPS.com®and its corporate blog can be foundat blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS 1. Insurance is underwritten by an authorizedinsurance company and issued through licensed insurance producersaffiliated with UPS Capital Insurance Agency, Inc., and otheraffiliated insurance agencies. UPS Capital Insurance Agency, Inc.and its licensed affiliates are wholly owned subsidiaries of UPSCapital Corporation. Insurance coverage is not available in alljurisdictions. 2. Loans made in California are subject to aDepartment of Corporations California Finance LendersLicense. Products may not be available in all areas andmay be modified based on requirements. Check with yourUPS Capital representative for localavailability. Credit availability is subject toapproval. 3. All services in connection with the UPSCapital Merchant Services Program are provided by ChasePaymentech TM and all fees charged for services aredetermined by Chase Paymentech. All decisions regardingapproval will be made solely by Chase Paymentech under ChasePaymentech's then current criteria. © 2014 United Parcel Service of America, Inc. UPS, the UPS brandmark and the color brown are trademarks of United Parcel Service ofAmerica, Inc. All rights reserved. # # #
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