Family Offices Battle to Manage Ultra-Rich Clients

Aug. 6 (Bloomberg) -- Ascent Private Capital Management, a new unit of U.S. Bancorp, was the second fastest-growing money manager in the world catering to wealthy families in 2012, according to Bloomberg Markets' annual ranking of family offices. Michael Cole, head of Ascent, is determined to make Minneapolis based U.S. Bancorp, the fifth-largest U.S. lender, a contender in the market for high-end financial services. The ranking is featured in the September issue of Bloomberg Markets magazine. Bloomberg's Maureen Damer reports. (Source: Bloomberg)
Fed's Yellen Speaks About U.S. Economy, Monetary Policy
20:43 - Federal Reserve Chair Janet Yellen speaks about the U.S. economy and monetary policy. Yellen said she still expects to raise interest rates this year if the economy meets her forecasts, with a gradual pace of tightening to follow. She speaks in Providence, Rhode Island. (Source: Bloomberg)
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