U.S. Bank is setting up a new unit for the ultra-wealthy clients. The unit, known as Ascent Private Capital Management, will focus on clients with at least $25 million in investable assets.
The business is headed by Michael Cole, president, who was the former head of Wells Fargo’s family wealth group and wealth planning center. The first two Ascent offices will open in the fourth quarter in Denver and Minneapolis, adds Business Journal.
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