Aimia taps Deutsche executive as president

MONTREAL • Aimia Inc. has named Nathaniel Felsher as president and chief strategy officer, less than a week after announcing a deal to sell its flagship Aeroplan loyalty program to a consortium led by Air Canada.

Felsher, who joins Aimia from Deutsche Bank in New York, where he co-headed the firm’s aviation corporate and investment banking group, will report directly to chief executive Jeremy Rabe.

“Having worked with Nat in the past, I believe his knowledge of the global loyalty and aviation space, strong relationships and corporate finance skills will be a huge asset to our business going forward,” Rabe said Monday.

Aimia announced last week it would sell its Aeroplan loyalty program to the Air Canada-led group, which includes TD Bank, CIBC and Visa Canada Corp.

The future of Aeroplan had faced questions since Air Canada rolled out plans to start its own loyalty rewards program in 2020 after its deal with Aimia expired.

The tentative $450-million Aeroplan deal reassured members they can continue to redeem their points for Air Canada flights, but left Aimia’s direction in the air.

Aimia chairman Robert Brown has called the transition a “pivotal period in our corporate history.”

Aimia’s other assets include a 48 per cent stake in Aeromexico’s loyalty program, PLM, and a 20 per cent share of Airasia’s loyalty program, Think Big.

Karl Moore, an associate professor at Mcgill University’s business school, called Aimia’s focus on data analytics a “hot, hot area.”

“They’re saying, ‘We need to figure out what to do here, so we brought in a senior person to do that,’” Moore said.

“Data analytics in a specific industry set — frequent flyer miles and loyalty programs — is very useful. And they have some global experience, not only themselves but the new hire.”

Aimia’s global experience has sometimes come at a cost. In February, the company announced it had sold Nectar, a U.K. loyalty program, to British retailer Sainsbury for $105 million, 11 years after Aimia bought the scheme for $755 million.

“Theoretically, they’re well-positioned. But the devil’s in the details of what is the strategy and how do you deliver it,” Moore said.