Ameriprise 2011 Annual Report Download - page 3
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JAMES M. CRACCHIOLO
CHAIRMAN AND CEO
Dear fellow shareholders,
1
Ameriprise Financial is stronger now than ever before. That’s a fact that few
nancial services companies can claim. For four years now, the business
environment has presented a steady series of challenges, from the near-
collapse of the nancial system in 2008 to the global economic malaise
of 2011 and with several notable are-ups in between. Over that period,
the markets have regressed, with the S&P 500 Index down 14 percent.
Through it all, including a distinctly difcult second half of 2011 — when the
U.S. and Europe careened toward major debt crises, market volatility soared
and interest rates lingered on the oor — Ameriprise Financial has endured
and thrived.
Today, we’re a leading diversied nancial services company with $631 billion
in assets under management and administration. We take a unique approach
to serving individual investors’ and institutions’ nancial needs, combining
leadership positions in nancial planning, wealth management, retirement
and asset management. And we maintain an exceptionally strong nancial
foundation that reinforces our client relationships and ensures we can
continue to invest for growth and return signicant capital to shareholders.
Meeting challenges from a position of strength
Certainly, our business is connected to the markets: volatile equity markets
impact asset levels and fees and create investor anxiety, while low interest
rates limit the income we earn in our spread businesses.
In 2011, just as we have for six years as
a public company and since our founding
in 1894, we met these challenges. The
company delivered record operating
revenues and earnings. For the year,
operating net revenues grew by 10
percent to $10.1 billion. Operating
earnings were $1.2 billion, up 4 percent
from a year ago, with operating earnings
per diluted share increasing 10 percent
to $5.00. And our operating return on
equity ended the year at 13.2 percent,
up from 12.9 percent at year-end 2010.