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	[ameriprise.com Official site]

James M. "Jim" Cracchiolo (born 1958) is an American corporate executive who serves as 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. Before leading the spinoff, Cracchiolo held a series of senior leadership roles at American Express over a career spanning more than two decades, during which he directed numerous turnaround efforts across the company's business divisions. Since 2003, he has also served as Chairman of Threadneedle Asset Management, a London-based global asset management firm. Under his leadership, Ameriprise Financial has grown into a major financial services company focused on the financial planning needs of affluent and mass-affluent clients, and Cracchiolo has consistently ranked among the highest-compensated chief executives in the United States. He is a member of the Business Roundtable.

Early Life

James M. Cracchiolo was born in 1958 in the United States. Details about his family background and upbringing prior to his college years are not extensively documented in available public sources.

Education

Cracchiolo attended the NYU Stern School of Business at New York University, where he earned his degree in business. His education at NYU Stern provided the foundation for a career in financial services that would span several decades across multiple business lines and geographies.

Career

American Express (Pre-Spinoff)

Before becoming the leader of Ameriprise Financial, Cracchiolo spent a substantial portion of his career at American Express, where he rose through the ranks over a period of more than twenty years. During his tenure at American Express, he held a range of senior leadership positions and was responsible for directing numerous turnaround efforts within the company's various business units. His track record of operational improvements and strategic management at American Express positioned him as the executive chosen to lead the company's financial advisory and asset management division through one of the most consequential corporate restructurings of the mid-2000s.

In 2003, Cracchiolo was appointed Chairman of Threadneedle Asset Management, the London-based global asset management subsidiary of American Express. He has continued to hold this position through and beyond the spinoff of Ameriprise Financial.

Cracchiolo's experience managing diverse business units within a large, publicly traded financial services company prepared him for the complex challenge of separating the financial planning and asset management businesses from American Express and establishing them as an independent, publicly traded entity.

Ameriprise Financial Spinoff (2005)

In September 2005, American Express completed the spinoff of its financial advisory business into a new, independent publicly traded company named Ameriprise Financial. Cracchiolo was named Chairman and Chief Executive Officer of the newly formed company. The spinoff was one of the largest of its kind in American corporate history and was subsequently characterized as one of the most successful.

The creation of Ameriprise Financial as a standalone entity involved the separation of a large and complex set of businesses—including financial planning, wealth management, insurance, and asset management operations—from the broader American Express corporate structure. The transaction required Cracchiolo and his management team to establish independent corporate infrastructure, build a new brand identity, and articulate a strategic vision for a company that would need to compete independently in the financial services marketplace.

The spinoff was notable in part because it took place during a period of significant change in the financial services industry. The mid-2000s saw ongoing consolidation among financial services firms as well as evolving regulatory requirements and shifting consumer preferences regarding financial advice and wealth management services. Cracchiolo's task was to position Ameriprise as a competitive independent company capable of thriving in this environment.

Leading Ameriprise Financial

Under Cracchiolo's leadership since the 2005 spinoff, Ameriprise Financial has grown into a diversified financial services company that serves the comprehensive financial planning needs of mass-affluent and affluent clients. The company's principal business lines include wealth management, asset management, retirement planning, and insurance products.

Cracchiolo has overseen a period of significant growth and strategic transformation at Ameriprise. The company has pursued a strategy of expanding its advisory capabilities and its asset management footprint, both organically and through acquisitions. The continued chairmanship of Threadneedle Asset Management has been part of this broader asset management strategy, maintaining the company's international investment management presence from its base in London.

The company expanded its international operations during Cracchiolo's tenure. In a notable move, Ameriprise entered the Indian market as part of its strategy to extend its financial planning services to new geographies.

Cracchiolo's strategic approach has emphasized the importance of financial planning as a core value proposition, differentiating Ameriprise from competitors that focused more narrowly on brokerage or investment management services. This client-centric, planning-based model has been a consistent theme of his leadership.

By 2024, the company had achieved record financial results under Cracchiolo's continued leadership. According to reporting by The Business Journals, Ameriprise posted record earnings for the year. The company's sustained financial performance over multiple years reflected the execution of Cracchiolo's long-term strategy for the firm.

Executive Compensation

Cracchiolo's compensation as CEO of Ameriprise Financial has drawn consistent attention from financial media and corporate governance observers. For 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.

Separate reporting by The Business Journals noted that his direct compensation package for 2024 was approximately $28.1 million, representing a slight decline from the prior year, even as the company posted record earnings. The discrepancy between the $28.1 million figure and the $56.1 million total reflects the difference between the value of compensation at the time of grant versus the realized value of equity awards at the time of vesting or exercise.

Earlier in his tenure, Cracchiolo's compensation was also notable. In 2017, he was reported to have received total compensation of $64.7 million. He has also appeared on the Forbes list of highest-compensated CEOs.

In February 2026, financial reporting outlets noted that Cracchiolo had sold approximately 31 percent of his personal holdings in Ameriprise Financial stock.

Industry and Civic Engagement

Outside of his role at Ameriprise Financial, Cracchiolo has been involved in a number of industry organizations and civic activities. He is a member of the Business Roundtable, an association of chief executive officers of leading American companies. He has also been a member of the Minnesota Business Partnership.

Cracchiolo has been involved with the American Council of Life Insurers (ACLI), reflecting Ameriprise Financial's insurance business operations. He has also served in a board capacity with the March of Dimes, a nonprofit organization focused on maternal and infant health.

In January 2026, Cracchiolo signed an open letter alongside approximately 60 other Minnesota-based CEOs calling for "deescalation" in the state, a move that was covered by financial industry media.

Recognition

Cracchiolo has received recognition from industry publications and business organizations throughout his career. He was named among the financial industry's executives to watch by Registered Rep magazine. He has been featured in Twin Cities Business magazine's profiles of prominent Minnesota business leaders on multiple occasions.

He has also been included on The Power 100 list, a ranking of influential figures in financial services. His profile has been featured in business research databases and corporate profiles maintained by publications including Bloomberg Businessweek.

The recognition Cracchiolo has received has generally centered on his role in executing the Ameriprise Financial spinoff and his subsequent management of the company through periods of both economic turbulence—including the 2007–2008 financial crisis and the COVID-19 pandemic—and growth. His ability to build Ameriprise into an independent company with sustained record financial performance has been a recurring theme in coverage of his career.

Legacy

James Cracchiolo's career is principally defined by his role in creating and building Ameriprise Financial as an independent publicly traded company. The 2005 spinoff from American Express transformed what had been a subsidiary business into a standalone financial services firm with its own brand identity, corporate governance structure, and strategic direction. The transaction has been cited as one of the largest and most successful corporate spinoffs in U.S. history.

Under Cracchiolo's tenure, which has lasted nearly two decades as of the mid-2020s, Ameriprise Financial has established itself as a significant player in the American wealth management and financial planning industry. The company's focus on comprehensive financial planning for affluent and mass-affluent clients has become a defining characteristic of its market position, differentiating it from firms that emphasize transaction-based brokerage services or purely institutional asset management.

Cracchiolo's longevity as CEO of a major financial services company is itself notable. His continuous leadership from the company's inception as an independent entity has provided strategic consistency across multiple business cycles, including the severe financial market disruptions of 2008–2009 and the economic challenges associated with the COVID-19 pandemic beginning in 2020. The company's ability to post record earnings in 2024 reflected the cumulative results of strategic decisions made over this extended period.

His involvement in industry organizations such as the Business Roundtable and the Minnesota Business Partnership has extended his influence beyond the operations of Ameriprise Financial to broader discussions of economic policy, corporate governance, and the role of the financial services industry in the American economy.