Read the memo Bridgewater's CEO sent staff about a leadership shake-up at the world's largest hedge fund
Bridgewater Associatesis further shaking up its executive ranks.
- David McCormick, the hedge fund's CEO, announced the changes in a February 11 memo to staff.
- Bridgewater was battered in 2020, losing about $12 billion as other funds found great success.
The largest hedge fund is shuffling its top ranks again.
Bridgewater Associates has appointed Nir Bar Dea to the newly created role of deputy chief executive, CEO David McCormick announced in an email to staff on February 11, which he published on LinkedIn Friday.Among other changes to the fund's investment committee and other operating groups, Chief Operating Officer Brian Kreiter is leaving the firm, McCormick said. Founder and Chairman
Murray, who left Bridgewater in 2020, had since been involved in a dispute with the firm over deferred pay. That lawsuit ended "amicably and fairly" in a settlement in October, a Bridgewater spokesperson previously told Insider.It's not clear when - if ever - Dalio will completely leave the firm. According to McCormick's memo, Dalio "has agreed to stay deeply involved in our investment team as both an idea generator and mentor."
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