James Cracchiolo

James M. Cracchiolo
Born	1958
Nationality	American
Occupation	Corporate executive
Title	Chairman and Chief Executive Officer, Ameriprise Financial
Known for	Chairman and CEO of Ameriprise Financial
Website	[www.ameriprise.com Official site]

James M. "Jim" Cracchiolo (born 1958) is an American business executive who has served as the Chairman and Chief Executive Officer of Ameriprise Financial, a diversified financial services company headquartered in Minneapolis, Minnesota. He has held both positions since September 2005, when Ameriprise was spun off from American Express in what has been described as one of the largest and most successful corporate spinoffs in United States history. Prior to leading the spinoff, Cracchiolo held a series of senior leadership roles at American Express, where he directed multiple business turnarounds across the company's financial services and card divisions. Since 2003, he has also served as Chairman of Threadneedle Asset Management, a London-based global investment management firm that became part of the Ameriprise family of companies. Under Cracchiolo's leadership, Ameriprise Financial has grown into a major financial services firm focused on the comprehensive financial planning needs of mass affluent and affluent clients. He is a member of the Business Roundtable, a group of chief executive officers of major U.S. companies.

Early Life

James M. Cracchiolo was born in 1958 in the United States. Details regarding his family background and upbringing prior to his higher education have not been extensively documented in public sources. What is known is that Cracchiolo pursued his academic and professional career in the financial services industry from an early stage, eventually attending graduate school in New York City, where he developed the business acumen that would later define his career trajectory at American Express and subsequently at Ameriprise Financial.

Education

Cracchiolo attended the NYU Stern School of Business, the graduate business school of New York University, where he earned his degree. NYU Stern is one of the oldest and most established business schools in the United States, with particular strengths in finance and financial services — fields that would become central to Cracchiolo's professional life.

Career

American Express

Before leading the creation of Ameriprise Financial as an independent public company, Cracchiolo spent a significant portion of his career at American Express, where he rose through the ranks to hold several senior executive positions. During his tenure at American Express, he was responsible for directing numerous turnarounds within the company's various business units. His work at American Express spanned the company's financial services operations and positioned him as a key figure in the organization's strategic planning.

By 2003, Cracchiolo had been appointed Chairman of Threadneedle Asset Management, the London-based global asset management firm that was then a subsidiary of American Express. This role gave him oversight of international investment management operations and further broadened his experience in global financial services.

Cracchiolo's role at American Express ultimately led to his selection to lead the separation of the company's financial planning and advisory business into a standalone, publicly traded entity. The decision by American Express to spin off its financial advisory division — which traced its roots to Investors Diversified Services (IDS) and later American Express Financial Advisors — represented a major strategic shift for the parent company and created an opportunity for Cracchiolo to build and shape a new Fortune 500 corporation.

Ameriprise Financial Spinoff

In September 2005, Ameriprise Financial was officially spun off from American Express and began trading on the New York Stock Exchange under the ticker symbol AMP. Cracchiolo was named Chairman and Chief Executive Officer of the newly independent company. The spinoff has been characterized as one of the largest and most successful in U.S. corporate history.

The creation of Ameriprise Financial required Cracchiolo to establish the company's independent identity, build its brand, and develop its own corporate infrastructure apart from its former parent. The company inherited a large network of financial advisors and a substantial asset management business, but it needed to differentiate itself in a competitive marketplace. Under Cracchiolo's direction, Ameriprise established itself as a financial services company focused primarily on financial planning and advisory services for mass affluent and affluent individuals.

Leadership at Ameriprise Financial

As Chairman and CEO, Cracchiolo has led Ameriprise Financial through multiple phases of growth and strategic transformation. The company's operations encompass financial planning and advice, asset management, insurance, and annuities. Under his leadership, Ameriprise has pursued a strategy of growth through both organic expansion and strategic acquisitions.

One significant strategic move during Cracchiolo's tenure was the integration and expansion of the company's asset management capabilities. Threadneedle Asset Management, which Cracchiolo had chaired since 2003, became a key component of Ameriprise's global investment management platform. The company later combined its Columbia Management and Threadneedle operations to form Columbia Threadneedle Investments, creating a global asset management business with a substantial presence in both the United States and international markets.

Cracchiolo also oversaw the company's expansion into international markets, including entry into India's financial services sector. In 2011, Ameriprise's presence in the Indian market was noted as part of the company's broader international strategy.

The company's financial performance under Cracchiolo's leadership has been notable. Ameriprise has posted record earnings in recent years, and the company's stock price has appreciated significantly from its initial public offering price at the time of the spinoff.

Industry Recognition and Rankings

Cracchiolo has been recognized in various industry rankings and lists over the course of his career. He was included in Forbes' listing of CEO compensation, reflecting his position among the highest-paid executives in the United States. He was also identified by industry publications as an executive "to watch" in the financial services sector.

Additionally, Cracchiolo appeared on The Power 100, a list recognizing influential figures in the financial services industry.

Compensation

Cracchiolo's executive compensation has been a subject of public reporting, as is typical for CEOs of publicly traded companies. For the fiscal year 2024, Cracchiolo realized $56.1 million in total compensation, which included stock rewards, salary, and bonuses. This marked the fifth consecutive year in which his total compensation exceeded $50 million. On a base compensation measure excluding certain stock award valuations, his 2024 pay was reported as approximately $28.1 million, which represented a slight decline from the previous year, even as the company posted record financial results.

In 2017, Cracchiolo's total compensation was reported at $64.7 million, which was among the highest compensation figures for financial services CEOs that year.

In February 2026, it was reported that Cracchiolo sold approximately 31% of his personal holdings of Ameriprise Financial stock.

Civic and Corporate Involvement

Cracchiolo is a member of the Business Roundtable, an association of chief executive officers of leading American companies that advocates for public policies to strengthen the U.S. economy. He has also been involved with the American Council of Life Insurers (ACLI).

Cracchiolo has participated in civic efforts in Minnesota, where Ameriprise Financial is headquartered. In early 2026, he signed a letter alongside approximately 60 other Minnesota-based CEOs calling for "de-escalation" in the state, reflecting his engagement with the broader Minnesota business community.

He is a member of the Minnesota Business Partnership, an organization of CEOs from Minnesota's largest companies. Additionally, Cracchiolo has been associated with the March of Dimes, having served on its board.

Personal Life

Cracchiolo maintains a relatively private personal life. He is based in the Minneapolis–Saint Paul metropolitan area, where Ameriprise Financial has its corporate headquarters. Beyond his corporate responsibilities and board memberships, publicly available information about his personal life remains limited. His career has been closely intertwined with the financial services industry for several decades, spanning his early work at American Express through his ongoing leadership of Ameriprise Financial.

Recognition

Throughout his career, Cracchiolo has received recognition from various business publications and industry organizations. Twin Cities Business magazine has profiled him on multiple occasions, recognizing his role in building Ameriprise Financial into a major independent financial services company following its separation from American Express.

His inclusion in Forbes' CEO compensation rankings and on The Power 100 list reflected his prominence among financial services executives nationally. Industry publications such as Registered Rep identified him as one of the key executives to watch in the wealth management and financial advisory space.

His membership in the Business Roundtable places him among a select group of CEOs who participate in shaping U.S. economic policy discussions at the national level.

Legacy

James Cracchiolo's principal legacy in the financial services industry is the creation and development of Ameriprise Financial as an independent public company. The 2005 spinoff from American Express transformed what had been a subsidiary — with roots stretching back to the founding of Investors Diversified Services — into a standalone Fortune 500 company with its own brand identity, corporate culture, and strategic direction.

Under Cracchiolo's stewardship spanning nearly two decades as of the mid-2020s, Ameriprise grew from a newly independent entity into a diversified financial services firm with significant operations in financial planning, wealth management, and global asset management through Columbia Threadneedle Investments. The company's consistent financial performance, including multiple years of record earnings, has been achieved during periods that included the 2007–2008 financial crisis and other market disruptions.

Cracchiolo's tenure also reflects a broader trend in American corporate history of large conglomerates spinning off business units to create focused, independent companies. The Ameriprise spinoff is frequently referenced as an example of how such separations can unlock value for shareholders and create companies with clearer strategic focus.

His long tenure as both Chairman and CEO of the same company — holding both roles continuously since the company's founding as an independent entity — is itself notable in an era when corporate governance trends have increasingly favored separating the two roles at public companies.