Ameriprise Financial Reports Fourth Quarter and Full Year 2015 Results
Operating net revenues were flat at $3.0 billion reflecting flat and volatile equity markets and continued low interest rates, which were offset by asset management performance fees.
Operating expenses were $2.4 billion, up 1 percent from a year ago. General and administrative expenses increased 4 percent primarily associated with performance fees and collateralized loan obligation (CLO) liquidation benefits – these items accounted for 3 percent of the 4 percent increase. Overall, expenses remain well controlled.