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    Joseph E. Sweeney

    President, Advice & Wealth Management, Products and Service Delivery at Ameriprise Financial Inc
    Since June 2012
    Age
    63 years
    Education
    Earned a Bachelor of Science (B.S.) and a Master of Business Administration (M.B.A.) from Widener University.
    Tenure
    Joined AMP in 04-2002, then held multiple leadership roles including President of Financial Planning, Products and Services since 2005, President of Advice & Wealth Management, Products and Services since 05-2009, and President, Advice & Wealth Management, Products and Service Delivery since 06-2012.

    Also at Ameriprise Financial Inc

    JMC
    James M. Cracchiolo
    Chairman and Chief Executive Officer
    WD
    William Davies
    EVP and Global Chief Investment Officer

    About

    Joseph E. Sweeney has built a distinguished career in the financial services industry, beginning with his start at AMP in 04-2002 as Senior Vice President and General Manager of Banking, Brokerage, and Managed Products at AEFC. Over time, he progressed through several key leadership roles at AMP, reflecting his commitment and expertise in the evolving financial landscape.

    As he advanced professionally, he took on greater responsibilities including the roles of President of Financial Planning, Products and Services from 2005, and President of Advice & Wealth Management, Products and Services starting in 05-2009. In 06-2012, he assumed his current position as President, Advice & Wealth Management, Products and Service Delivery, guiding strategic decisions across multiple business areas and demonstrating leadership through various market cycles.

    Beyond his executive roles, he actively contributes to the broader financial community by serving on the board of directors of the Securities Industry and Financial Markets Association and the American Securities Association. His extensive experience and steadfast dedication continue to provide significant strategic guidance within the industry.

    Past Roles

    Organization Role Date Range
    Ameriprise Financial, Inc. President-Advice & Wealth Management, Products and Services May 2009 to June 2012
    Ameriprise Financial, Inc. President-Financial Planning, Products and Services 2005 to May 2009
    AEFC Senior Vice President and General Manager of Banking, Brokerage and Managed Products April 2002 to 2005
    American Express Senior Vice President and Head, Business Transformation, Global Financial Services March 2001 to April 2002

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$600,000 Annual 2023Base salary for 2023
    Retirement Plan Contributions$906,997 Annual 2023Contribution to retirement plan
    Deferred CompensationExecutive: $408,000 ; Company: $102,000 ; Aggregate Balance: $1,945,835 Annual 2023Breakdown of deferred compensation contributions
    Pension Benefits$4,144,923 Annual 2023Composed of Retirement Plan: $906,997 and Supplemental Retirement Plan: $3,237,926
    Vested Plan Balances Payable Upon Termination$8,495,676 Upon TerminationDetails: Retirement Plan: $910,110 , 401(k) Plan: $2,302,715 , Supplemental Retirement Plan: $3,337,016 , Deferred Compensation Plan: $1,945,835
    Other Termination PaymentsVoluntary Termination/Retirement: $2,040,000 ; Involuntary Not for Cause: $5,857,670 ; Involuntary/Good Reason Termination following Change in Control: $16,725,760 ; Termination Due to Disability: $9,359,030 ; Termination Due to Death: $9,205,171 Upon Termination EventDetailed termination payment amounts vary based on conditions

    Performance Compensation

    Data from  FY 2023

    Annual Cash Incentive Award

    MetricValueDetails
    Amount$2,040,000 Award based on 2023 performance
    Grant DateJan 27, 2023 Non-equity incentive plan award

    Long-Term Incentive Awards

    ComponentGrant Date Fair ValueVesting SchedulePerformance Metrics/TargetsAdditional Details
    Performance Share Units (PSUs)$1,250,000 Cliff vest in 3 years Target: 3,628 PSUs ; Maximum: 6,349 PSUs ; Metrics: EPS growth, average ROE, and relative TSR with up to ±25 percentage points adjustment ; Payout: 0% to 150% of target Subject to achievement of established performance measures
    Restricted Stock Awards$675,000 Vest in one-third increments annually over 3 years Not directly adjusted by performance metrics Part of long-term equity compensation
    Stock Options$575,000 Vest in one-third increments annually over 3 years Exercise Price: $344.45 per share ; Value dependent on share price increase beyond exercise priceOptions provide additional upside potential