The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Ameriprise CEO Talks to the Press Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 27, 2005

Ameriprise CEO Talks to the Press

by: Sean Hanna, Editor in Chief

Jim Cracchiolo, CEO of Ameriprise Financial, sat down recently with the local paper (in his case the Minneapolis Star-Tribune) to discuss the firm's spin-off from American Express. The deal is set to be completed at the start of October, at which time the firm's mutual funds will also take the RiverSource name. Two questions during the interview touched on Ameriprise's fund business (see below).

Those wishing to read the entire published interview can find it at StarTribune.com.
Star-Tribune: Though it has improved recently, your mutual fund performance has been disappointing over the years. How do you go from simply having improved mutual-fund performance to having the best mutual-fund performance of your peers?

Cracchiolo: Over the last few years, we brought in top-notch talent. We've invested in the right research capabilities and analysts to support our investment process. The performance over the last years has improved nicely, and we are continuing to make progress. We think we can be a player with strong performance, and we have the right talent to achieve that performance.

Star-Tribune: For years American Express Financial Advisors clung to a proprietary model in which the firm only sold American Express mutual funds to clients and only used its advisers to sell its products. How do you make your culture more nimble and flexible?

Cracchiolo: Today we have full open architecture for our investment products, and [recently] we've launched more products than we did over the last decade and a half. My philosophy and the focus of my leadership now is to be an innovative company again. We had to play catch-up. We had to close gaps we had in our product portfolio.

Having said that, we think there is a great opportunity to use our experience as well as the capabilities we have as a company, both in our asset management and our insurance and our brokerage business to create more appropriate products to satisfy the long-term needs of our clients. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use