Bridgewater Associates has named co-CEO deputy chief executive Nir Bar Dea, and former Aetna Chief Executive Mark Bertolini, – a member of Bridgewater’s board for three years – as co-Chief Executives of the world’s largest hedge fund, according to a Finance News report.
The announcement was made in a memo to Bridgwater employees that was released publicly, informing staff that CEO David McCormick would be stepping down to consider running for the US Senate in Pennsylvania.
Bridgewater has had performance problems in recent years with the firm’s flagship Pure Alpha macro fund posting its worst monthly loss in March 2020.
