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August 22, 2014 9:00 AM, EDT
Chang Succeeds Bernabucci at UPS Capital
UPS Inc.

UPS Inc. said Ronald Chang has been named president of its UPS Capital business, which offers insurance and trade payment services, to succeed Bob Bernabucci, who is retiring after 41 years of service.

Chang previously was vice president of the business. His background includes seven years directing merger and acquisitions in Europe and other areas.

During that tenure, he completed more than 70 transactions to facilitate international growth for UPS, which is No. 1 on Transport Topics Top 100 For-Hire Carriers in the U.S. and Canada.

Kurt Kuehn, UPS chief financial officer, said in a statement that Bernabucci “built a strong portfolio of products for UPS Capital”.

“We are fully confident in Ronald’s ability to build upon Bob’s solid foundation and continue leading UPS Capital’s growth,” Kuehn added in a statement.

Bernabucci headed UPS Capital since 1999 as the company built financial services offerings including cargo protection and cash flow management.