James M. Cracchiolo
| James M. Cracchiolo | |
|---|---|
| Born | 1958 |
| Nationality | American |
| Alma mater | NYU Stern School of Business |
| Occupation | Chairman & CEO of Ameriprise Financial, Inc., |
| Salary | US$18,214,764 (2010) |
James "Jim" Cracchiolo is Chairman and Chief Executive Officer of Ameriprise Financial, Inc., a leading diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. 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.
Prior to his current role, Cracchiolo held a number of senior-level positions at American Express, including:
Cracchiolo obtained a Bachelor of Science degree in accounting and economics and a Master of Business Administration degree in finance, both from the New York University School of Business. He is a licensed Certified Public Accountant in New York State and is Financial Industry Regulatory Authority (FINRA) Series 7 and 24 certified in the United States.
Cracchiolo is credited with a successful transition to independence for Ameriprise Financial, currently a Fortune 500 company and one of the largest diversified financial services firms in the United States. He admitted in an interview that "the biggest challenge, and ultimately our best opportunity, was to create an entirely new brand in the marketplace – from our name to our identity, from advertising and marketing to re-branding every physical aspect of doing business. That has been exciting and rewarding. We’ve gone from zero brand awareness to almost 50 percent in 18 months."
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."
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