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U.S. Bank hires regional leader of UHNW business

U.S. Bank's wealth management division for the super wealthy has snagged the president of an asset-management firm to take charge of the business in Denver.

John Zimmerman will lead a team of approximately 10 professionals in his role as regional managing director of Ascent Private Capital Management, the bank's ultrahigh-net-worth arm.

Zimmerman will join Ascent on June 14 from Denver Investments, where he oversaw the overall strategic direction of the firm for more than three years as president. Prior to joining Denver Investments in June 2013, Zimmerman served as managing director of Northern Lights Capital Group, a firm that provides capital and strategic resources to boutiques in the asset management industry, Zimmerman noted in his LinkedIn profile.
"John's extensive financial services and wealth management experience make him the ideal fit to lead our Denver team," Ascent's president, Michael Cole, said in a statement. "Our clients expect a high-touch experience in all of the services Ascent offers, and John is exactly the type of leader who can deliver on those expectations."

The Ascent team in Denver works with families with an average net worth of more than $440 million, Ascent said.

Read More: Ascent UHNW Business Aims for Next Level of Wealth Management

Zimmerman replaces Paul Ferguson, who left Ascent last fall to join a New York-based private equity firm, Brightstar Capital Partners, as managing director. Ferguson joined Ascent's Denver office in December 2011, just before the facility officially opened.

Ascent opened for business five years ago under Cole's leadership. In addition to Denver, it has offices in San Francisco, Seattle, Minneapolis and Cincinnati.

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