Ownership of Information Assets

What models and approaches to the ownership of information assets have
others tried?  
 
I am used to the old paradigm of direct ownership attached to a
specific business unit director or management delegate.  In the
company that I work for now, I am considering an approach that looks
more at the business processes themselves - having the owners of each
business process take responsibility for the information assets that
are used as input, processing, and output for the processes
themselves.  This puts the use of information assets into the context
of the business process as opposed to a 1 size fits all approach.  I
can definitely see some clear pro's and con's here...     
 
Have others tried this route?  And what kinds of successes/lessons
learned can you share?    
 
TIA,
 
Brad Bemis, CISSP, CISA
Information Security Professional     
 
P.S.  We are already working toward the use of Lean Six Sigma within
our company, so there is a tremendous level of effort going into
defining business processes and establishing ownership of them...