May 15, 2020

Life Annuity Specialist – Ameriprise CEO Took Home Sweetest Pay Package Last Year

By Cyril Tuohy

Ameriprise Financial CEO James Cracchiolo, who helped push the company further into more profitable life and annuity products last year, was rewarded as the industry’s top-earning CEO, according to proxy filings.

Cracchiolo’s compensation was $24.5 million in 2019, down almost 5%. The company’s share price surged almost 60% over that period, about twice as much as the S&P 500 Index.

Pay ratios from 2018 to 2019 were stable as life insurance isn’t an “outlier type” of industry, said Robin Ferracone, CEO of executive compensation consultants Farient Advisors. “Many are the same as the year before and the pay is the same,” she said.

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