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James Cracchiolo

CEO of Ameriprise Financial

Education

  • Bachelor of Science degree in accounting and economics -
  • Master of Business Administration degree in finance - New York University Stern School of Business

Overview

James Cracchiolo is Chairman and Chief Executive Officer of Ameriprise Financial, Inc.

He has held these positions since September 2005, when the company was spun off from American Express. From 2003 to present, he has also been Chairman of Threadneedle Asset Management, a London-based global asset management firm.

Ameriprise turned down the roughly $2.5 billion federal bailout money it was offered as part of the United States government's Troubled Asset Relief Program during the subprime mortgage crisis in 2008. Cracchiolo, in a statement, said the company is "confident that our current capital position and access to potential additional funding sources are more than adequate."

Under Cracchiolo's leadership, Ameriprise completed its $1.2 billion acquisition of Columbia Management's long-term asset management business from Bank of America Corporation in May 2010. This deal is expected to improve the profit margins of Ameriprise's asset management business by 25 percent within two years and make Ameriprise the eighth-largest manager of long-term mutual funds in the U.S.

Early Life

James Cracchiolo was born on 1958 .

Career

  • Ameriprise Financial, Inc - CEO

Recognition

Cracchiolo was named in "The 20 to Watch in 2006" by Twin Cities Business magazine.

A month after Ameriprise's spin-off from American Express, Cracchiolo was named one of "The Ten to Watch 2005" among leaders of brokerage, financial advisor and financial planning firms in the U.S by Registered Rep, a magazine for retail investment professionals.

Cracchiolo was named in "The Power 100" annual list of emerging executives in the finance industry

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