FORT WORTH, Texas, March 29 /PRNewswire/ -- Today, AMR Corporation , the parent company of American Beacon Advisors, announced that William F. Quinn, the company's founder and President, will become Chairman and CEO of this investment unit. Mr. Quinn will also continue to serve on the boards of both American Beacon Advisors and the American Beacon Funds.
Additionally, as Mr. Quinn prepares for retirement in a few years, the Company announced the appointment of Douglas G. Herring as President of American Beacon Advisors. Mr. Herring currently serves as Vice President and Controller of American Airlines and Chairman of the American Airlines Federal Credit Union on whose board he has served since 1995. Mr. Herring became Chairman of the Credit Union Board in 2003, succeeding Mr. Quinn who held that position for fourteen years. Mr. Herring has also served on American Airlines' Pension Asset Administration Committee, which oversees investments made by American Beacon on behalf of American's various pension plans since 1998. Mr. Herring joined American in 1986 and served in several increasingly responsible positions in Finance and Planning in the Corporate Finance, Corporate Development and Controller departments. Prior to joining American, Herring worked in public accounting for four years. Mr. Herring is a native of Anchorage, Alaska, is a graduate of Baylor University, and holds a Masters Degree in Business Administration from The University of Texas.
Bill Quinn said, "I am very pleased to be able to add a senior financial executive of Doug Herring's caliber to the strong team of senior managers we already have at American Beacon. This will allow us to continue to build a strong infrastructure as American Beacon continues to grow its products and assets under management."
American Beacon managed over $45 billion in pension and cash assets as of December 31, 2005, on behalf of American Airlines and outside clients, including the American Beacon Funds.
For more information, please call Terri McKinney at 1-800-967-9009.
