Fidelity grabs 120,000 new customers with American Airlines

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American Airlines will switch all 120,000 employees to Fidelity Investments.

Nicholas Sakelaris

Staff Writer- Dallas Business Journal

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American Airlines employees will now have their retirement services through Fidelity Investments, the Boston-based financial adviser announced Monday.

Fort Worth-based American (Nasdaq: AAL) will move all 120,000 employees to Fidelity in mid-2015.

Fidelity has provided services to US Airways since 1993. US Airways merged with American in December so it makes sense to move to a single retirement plan.

"Fidelity has both the people in place and the innovative technologies needed to manage plans the size of American's, which will have assets under administration of about $14 billion," said Steve Patterson, executive vice president of sales for Fidelity.

American wanted a system that could be accessed from multiple devices because it has employees all over the world. That includes pilots, flight attendants and ground crews who don't work at traditional desks.

"Our diverse and mobile team of 120,000 aviation professionals deserves a best-in-class administrative partner and Fidelity provides this level of support and more," said Elise Eberwein, executive vice president of American. "From a robust online technology platform to service centers designed to provide individual support, we look forward to supporting our co-workers as they plan for their financial futures."

Fidelity has a large North Texas presence, including a 337-acre regional headquarters in Westlake with 5,600 employees.

Nicholas covers the energy, manufacturing, aviation and transportation beats for the Dallas Business Journal. Subscribe the Energy Inc. newsletter