Page 6 - Nir Bar Dea News Today

Former Aetna CEO Mark Bertolini has been named co-CEO of Westport-based Bridgewater Associates, the world’s largest hedge fund, the same day its current corporate chief, David McCormick, announced he will step down to consider a run for the U.S. Senate. Bertolini, who previously served as co-chair of Bridgewater’s operating board of directors, will share leadership responsibilities with Nir Bar Dea, who was also named co-CEO on Monday.

Bridgewater Associates named Nir Bar Dea and Mark Bertolini as co-CEOs to replace David McCormick as he considers running for a U.S. Senate seat.

Bridgewater Associates named two new co-chief executives to head the world’s largest hedge-fund firm on Monday, after CEO David McCormick told staff he would be stepping down to consider running for...

Ray Dalio, 72, is still interested in managing money at Bridgewater but no longer wants to be responsible for running the $US150 billion firm.

(Bloomberg) -- Bridgewater Associates is giving the board that oversees its business more clout, the latest sign that founder Ray Dalio is serious about loosening his grip on the world’s biggest hedge fund.

Bridgewater Associates is shuffling its management ranks after one of the most challenging years in the hedge-fund giant’s history.

Bridgewater promotes from within to fill new deputy CEO position Nir Bar Dea Nir Bar Dea was appointed to the new position of deputy CEO by Bridgewater Associates earlier this month, said David H. McCormick, the firms CEO, in a statement on LinkedIn. The creation of the deputy CEO role is part of a reorganization Mr. McCormick is undertaking for the hedge fund manager, he said in the Feb. 11 memo. He noted that Mr. Dea "will partner with me across all aspects of managing Bridgewater" with an in...

The changes could lay the groundwork for the departure of Ray Dalio, who founded the hedge fund in 1975.