McFadden launches U.S. Senate bid

(MPR Video/Tom Scheck)

(MPR Video/Tom Scheck)

Mike McFadden made his intentions known in a video release. He is the first official GOP candidate who will try to unseat incumbent Democrat Sen. Al Franken, who is seeking a second term.

McFadden is co-CEO of Lazard Middle Market, a Minneapolis-based finance and asset management firm. It is a branch of Lazard Financial, a global investment bank.

Franken has been raising money and organizing his campaign despite the lack of a challenger. He announced the hiring of Matt Burgess as his campaign manager.