BP America has retained U.S. financial services group, Fidelity Investments, as its administrative service provider. The renewal has extended Fidelity’s mandate with BP America to up to 2015.
The contract comprises the continuation of administration and recordkeeping of the U.S. oil ad gas producer’s defined benefit, defined contribution and nonqualified deferred compensation plans for the employees. Fidelity began offering administrative services for BP America’s defined contribution plan in 1998 and its defined benefit plan in 1999.
