Ameriprise CEO Jim Cracchiolo said Tuesday that it's been "great to be together again in person" as employees have been coming into the office a few days a week this summer.
"We're looking forward to being more fully back this fall when conditions are safe to do so while maintaining a level of flexibility," he told investors on a conference call after the financial services firm reported better-than-expected second quarter earnings.
With nearly 5,000 employees at its headquarters, Ameriprise is one of the largest employers in downtown Minneapolis. Others, such as Wells Fargo and U.S. Bancorp, are planning a full return to the office in September.
Cracchiolo also was upbeat about Ameriprise's prospects for the rest of the year as the economy rebounds and as the company has been serving more clients and is seeing organic growth in its asset and wealth management.
"The environment in the U.S. continues to improve as the economy reopens more fully and equity markets remain strong," he said. "Recent spikes in the virus are putting some pressure on Europe's recovery, but overall there's a lot to be hopeful for as we look ahead."
He said that clients have been engaging with Ameriprise both in person and through its enhanced digital capabilities, the latter of which has helped lead to higher client inflows.
At the same time, Cracchiolo nodded to the fact that the firm recruited fewer new advisors than it usually does, which he attributed in part to people being focused on the reopening of the economy and delaying start dates. But he added that things are getting back to a more normal rhythm and said he feels good about the pipeline in the coming months.
For the quarter ending June 30, Ameriprise reported net earnings of $591 million, or $4.88 a share. In the same period last year, the company lost $539 million, or $4.31 a share.
