Bridgewater, which manages around $150 billion in assets, stands out within the secretive hedge
fund industry for its culture of radical transparency that Mr. Dalio recently called “unusual.”
“Some people absolutely hate it, and some people could never work anywhere else,” Mr. Dalio said at a hedge fund conference in Manhattan in September
Bridgewater Associates, World’s Biggest Hedge Fund, Shakes Up Leadership -
By ALEXANDRA STEVENSON and MATTHEW GOLDSTEINMARCH 1, 2017
Ray Dalio, the 67-year-old billionaire founder of Bridgewater Associates, is stepping down
from the helm of the world’s biggest hedge fund in a management shake-up at the firm.
Mr. Dalio also said that Jon Rubinstein, the former Apple executive
that Mr. Dalio hired less than a year ago to become co-chief executive, would leave the firm.
About Mr. Rubinstein’s departure, Mr. Dalio said that both men “mutually agree that he is not a cultural fit.”
David McCormick, the firm’s president, will step in as co-chief executive with Eileen Murray.