Family Offices Battle to Manage Ultra-Rich Clients

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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)

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