William F. Truscott
About William F. Truscott
William F. Truscott (born 1960; age ~65) is Senior Vice President of Tri-Continental Corporation (TY) and a long-tenured Columbia Threadneedle/Ameriprise executive. He has served as CEO, Global Asset Management at Ameriprise Financial since September 2012, and chairs/presides over multiple Columbia Threadneedle affiliates, including Columbia Management Investment Advisers, LLC and Columbia Management Investment Distributors, Inc. His officer role at TY dates to 2001. The TY proxy does not disclose executive performance metrics (TSR, revenue, EBITDA) for officers; TY’s independent director compensation is disclosed, while officers employed by the Manager are not compensated by TY .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Ameriprise Financial, Inc. | Chief Executive Officer, Global Asset Management | Sep 2012–present | Leads global asset management platform (Columbia Threadneedle), responsible for strategy and execution across affiliates . |
| Columbia Management Investment Advisers, LLC | Chairman; President | Chairman since Jul 2004; President since Feb 2012 | Oversees the investment adviser to TY and broader Columbia Funds Complex; governance and product leadership . |
| Columbia Management Investment Distributors, Inc. | Chairman; Chief Executive Officer; President | Chairman since Nov 2008; CEO since Feb 2012; President since Jan 2024 | Heads distribution entity for Columbia Threadneedle US, aligning sales and product . |
| Threadneedle Asset Management Holdings, Sàrl | Chairman; Director (former) | Chairman Mar 2013–Dec 2022; Director Dec 2008–Dec 2022 | Directed EMEA holding company for Threadneedle prior to reorganization . |
| TAM UK International Holdings Limited | Chairman; Director | Since Jul 2021 | UK holding entity oversight within Columbia Threadneedle network . |
| Tri-Continental Corporation (TY) | Senior Vice President | Since 2001 | Officer of the closed-end fund; supports governance and oversight as part of Columbia Funds Complex . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Columbia Wanger Asset Management, LLC | President; Chairman of the Board | Since Oct 2024 | Leadership of affiliate focused on Wanger/Acorn funds . |
| Columbia Threadneedle Investments (various affiliates) | Senior executive across entities | Multi-year | Senior executive capacities across US/UK affiliates . |
Fixed Compensation
- TY does not pay compensation to officers who are employees of the Manager (Columbia Management) or its affiliates (except a portion of the CCO’s compensation) . As a result, base salary, bonus, equity awards, and related terms for Mr. Truscott are not disclosed in TY’s proxy .
Performance Compensation
- Not disclosed for TY officers. TY’s proxy provides no performance metric linkages, targets, or payouts for officers employed by the Manager .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| TY shares owned | 4,000 shares, indirect ownership via LLC (after purchase) . |
| Latest transaction | Open market buy of 4,000 shares at $33.60 on Nov 18, 2024; total $134,400 . |
| Ownership vs shares outstanding | ~0.0077% of TY common (4,000 / 52,030,435.397 shares as of Apr 16, 2024) . |
| Vested vs unvested, options | Not applicable at TY; officer equity grants/option holdings are not disclosed in TY proxy . |
| Pledging/hedging | No pledging/hedging policy disclosures for officers in TY proxy; Form 4 indicates indirect ownership via LLC without pledge notation . |
| Group ownership | Directors and officers as a group own <1% of TY common as of Dec 31, 2024 . |
Employment Terms
- Officers are elected by the Board; they “serve at the pleasure of the Board.” No employment contracts, severance/change-of-control terms, non-compete, non-solicit, or garden leave disclosures are provided in TY’s proxy .
Investment Implications
- Insider buy: A November 2024 open-market purchase of 4,000 TY shares by a senior Ameriprise/Columbia Threadneedle executive and TY officer is a modestly positive alignment signal, with low absolute ownership but direct incremental commitment at ~$33.60 per share .
- Limited selling pressure from pay-driven vesting: TY does not disclose equity-based pay or option grants for officers employed by the Manager, implying minimal TY-specific vesting-driven selling pressure; monitor future filings for any policy changes .
- Compensation alignment resides at Ameriprise/Columbia: Without TY-level officer comp disclosures, incentive levers (performance metrics, severance/CoC economics, clawbacks) cannot be assessed at the fund level; Truscott’s incentives are likely governed by Ameriprise Global Asset Management frameworks rather than TY-specific metrics .
- Governance/retention: Long tenure and multi-affiliate leadership suggest continuity; however, retention economics and restrictive covenants are outside TY’s disclosures. Focus on additional Form 4 activity, any 8-K Item 5.02 changes, and Ameriprise disclosures for a fuller picture .