The chief of Columbia Threadneedle's
] publicly traded parent is still openly on the hunt for more asset management acquisitions.
"The activity in the industry has picked up a bit and we very much have the capability and the ability to continue to bolt-on," Jim Cracchiolo
, chairman and CEO of Ameriprise
, said yesterday morning on Ameriprise's Q1 2018 earnings call, as transcribed by Seeking Alpha.
"We think there are some additional capabilities that we would like to add on to our asset management capabilities."
Cracchiolo was responding to analyst Adam Klauber
, co-group head of the financial services and technology sector at William Blair
, who asked about Ameriprise's deal pipeline and the likelihood of seeing "one or two more deals in the next 12 to 18 months."
an adjusted $3.70 per share for Q1 2018 thanks to $3.1 billion in adjusted operating net revenues, beating expectations by $0.24 per share and $20 million, respectively. Its asset management arm saw Q1 revenue rise seven percent year-over-year (to $778 million) and its pretax adjusted operating earnings rise 30 percent (to $195 million). AUM rose four percent year-over-year to $485 billion, yet quarterly net outflows rose 36 percent to $7.7 billion.
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