- Current report filing (8-K)
January 20 2009 - 4:12PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported)
January 20, 2009
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
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001-32525
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13-3180631
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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55 Ameriprise
Financial Center
Minneapolis, Minnesota
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55474
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(Address of principal executive offices)
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(Zip Code)
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Registrants
telephone number, including area code
(612) 671-3131
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other
Events.
Ameriprise Financial, Inc. (the Company) will record a pre-tax
restructuring charge of approximately $60 million in its fourth quarter 2008
results. The Company expects to realize over $130 million in annual run-rate
expense savings as a result of accelerated re-engineering efforts. Savings in
2009 are expected to be over $80 million.
The Company expects to achieve these savings primarily through
selective reductions in employee headcount. The Companys client service
operations will be largely unaffected by these moves, and the Company is
committed to maintaining its high level of service to clients and advisors.
Forward Looking Statement
Certain
statements in this Current Report on Form 8-K relate to future events and
expectations and as such constitute forward-looking statements involving known
and unknown risks and uncertainties that may cause actual results, performance
or achievements of the Company to be different from those expressed or implied
in the forward-looking statements. The Company disclaims any obligation to
update publicly any forward-looking statements, whether in response to new
information, future events or otherwise, except as required by applicable law.
Important factors that could cause actual results to differ materially from
those in the forward-looking statements include: (a) material adverse
changes in economic or financial services industry conditions generally,
including global supply and demand conditions and fluctuations in prices for
investment and protection products and services; (b) material adverse
changes in the businesses and organizations served by the asset management
business of the Company; (c) the Companys inability to achieve the level
of cost reductions or operating efficiencies anticipated by management in
connection with its re-engineering activities; (d) continued volatility or
deterioration in the financial markets, including disruptions in the commercial
paper, capital and credit markets; (e) the Companys inability to achieve
efficiency improvements at acquired businesses as planned and by targeted
completion dates; (f) unfavorable changes in laws, governmental
regulations or policies, foreign currency exchange rates or competitive factors
in the countries in which the Company operates; (g) significant legal
proceedings or investigations adverse to the Company; and (h) the other
risk factors summarized in the Companys Form 10-K for the year ended December 31,
2007, Forms 10-Q for the quarters ended March 31, 2008, June 30, 2008
and September 30, 2008 and other reports filed with the Securities and
Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
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AMERIPRISE
FINANCIAL, INC.
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(Registrant)
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Date:
January 20, 2009
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By
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/s/
Walter S. Berman
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Walter S.
Berman
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Executive
Vice President and
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Chief
Financial Officer
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