U.S. Bank, a leading provider of wealth management and private banking services, announced today that Jonathan Firestein has been appointed the head of private capital for Ascent Private Capital Management of U.S. Bank, a unit of U.S. Bank’s Wealth Management Group that serves ultra high net worth clients with more than $25 million in individual or family wealth.
Firestein will lead the effort to construct the private capital investment platform for Ascent clients, including global investment strategies in venture capital, buyouts, private debt, real estate and real asset investment funds. He will also build the “impact” investment platform for Ascent clients, identifying global opportunities for clients to pursue investment opportunities with social and environmental impact as well as potential financial returns. Firestein will report to Kurt Silberstein, Ascent’s head of alternative investments.
“Jonathan’s previous experience in leading the construction of a global private capital investment platform and his focused experience in private equity make him well suited for this position,” Silberstein said. “Additionally, his background in economics provides him with a macro-economic perspective to guide the selection of private capital investment opportunities.”
Firestein brings more than 14 years of investment and business development experience to the Ascent investment team, including extensive experience in leveraged buyouts. He previously served as director of research for Wells Fargo Family Wealth and as a senior associate at Rigel Associates, a California-based private equity firm. Firestein earned a Masters of Science degree in economics and a Masters of Business Administration from Arizona State University. He graduated from the University of Arizona with a Bachelor of Arts degree in economics.
Firestein joined Ascent on August 8, 2011, and will work at the U.S. Bank office located at One California Street in San Francisco.
About Ascent Private Capital Management
Ascent Private Capital Management of U.S. Bank (ascent.usbank.com) helps individuals and families with significant wealth focus on the impact of their wealth rather than simply on accumulating that wealth. Ascent’s unique service delivery model combines traditional wealth management offerings — financial planning; investment management; private banking; trust and estate services; and financial administration — with cutting-edge “wealth impact” services that may help some of the country’s wealthiest families with family governance, family dynamics, and multigenerational wealth planning and education.
About U.S. Bank Wealth Management
U.S. Bank Wealth Management offers comprehensive wealth management solutions, including investment management, brokerage, financial planning, private banking, personal trust and insurance services for individuals, families, and their foundations. Ascent Private Capital Management serves ultra-high-net-worth clients with more than $25 million in investable assets; The Private Client Reserve (privateclientreserve.usbank.com) serves high-net-worth clients with more than $1 million in investable assets; and The Private Client Group serves affluent clients with more than $100,000 in investable assets. Brokerage services are offered through U.S. Bancorp Investments, Inc., and insurance services are offered through U.S. Bancorp Insurance, LLC.