Imation Corp., Oakdale, has launched its investment advisory subsidiary GlassBridge Asset Management LLC, concluding the transition of its principal business to an alternative asset manager. GlassBridge intends to use algorithms and other quantitative strategies within a quantitative equity strategy. The transition was the result of a strategic transaction with the Clinton Group Inc.
In addition, the Imation board announced the resignation of Robert Fernander as interim chief executive and appointed Danny Zheng as the next interim CEO of Imation while it conducts a CEO search.
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