DLJdirect, the online brokerage service of Donaldson, Lufkin & Jenrette, Inc. and MBNA America Bank, N.A., a bank holding company, announced a partnership agreement to provide new services to customers of both organizations.
Under the terms of the multi-year agreement, DLJdirect customers will be offered an MBNA/DLJdirect co-branded credit card. Likewise, MBNA will offer the online brokerage services of DLJdirect to its credit card customers. Enhanced features, rewards, and loyalty programs will be explored as the program develops, providing opportunities to extend additional services to customers of both firms.
This reciprocal relationship should provide DLJdirect and MBNA valuable marketing opportunities as well as value-added services for their customers.
“We are enthusiastic about this relationship with a top-line firm like DLJdirect,” said John Cochran, Chief Marketing Officer of MBNA. “Their reputation for quality has attracted a clientele that appreciates the superior products and services that MBNA provides.”
“We are delighted to partner with MBNA,” said Glenn Tongue, President of DLJdirect. “This arrangement furthers our commitment to broaden the base of financial services we offer to the serious, self-directed investor. Clearly, service quality and reliability are values we share with MBNA in providing the best resources for our customers.”
About MBNA Corporation
MBNA Corporation, a bank holding company and parent of MBNA America Bank N.A., a national bank, has $73 billion in managed loans. MBNA, the largest independent credit card lender in the world, also provides retail deposit, consumer loan, and insurance products. MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail deposit, travel, and shopping services.
DLJdirect is one of the world’s premier online brokerage firms offering a diversified range of investment products and services to sophisticated, self-directed investors. As of March 31, 2000, DLJdirect had more than 930,000 worldwide customer accounts representing $29.4 billion in assets. Headquartered in Jersey City, N.J., with offices in Parsippany, N.J., Charlotte, N.C., Delray Beach, FL., London, Tokyo, Hong Kong, and Dubai, DLJdirect employs more than 1,000 people. DLJdirect common stock trades on the New York Stock Exchange under the ticker symbol “DIR.” For more information on DLJdirect, visit the Company’s Web site at www.DLJdirect.com.
About Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette (DLJ) is a leading integrated investment and merchant bank serving institutional, corporate, government and individual clients. DLJ’s businesses include securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management. Founded in 1959 and headquartered in New York City, DLJ employs approximately 10,600 people worldwide and maintains offices in 13 cities in the United States and 16 cities in Europe, Latin America and Asia. The company has two classes of common stock trading on the New York Stock Exchange. Shares trading under the ticker symbol “DLJ” represent Donaldson, Lufkin & Jenrette, Inc. Shares trading under the ticker symbol “DIR” track the performance of DLJdirect, its online brokerage business. For more information on Donaldson, Lufkin & Jenrette, refer to the company’s Web site at www.DLJ.com. The firm’s world headquarters are located at 277 Park Avenue, New York, NY 10172.