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Benedicte Gravrand, Opalesque Geneva: Ray Dalio, chairman and CIO at Connecticut-based Bridgewater Associates, announced in a letter to clients posted on LinkedIn several management changes that will take effect in April.
He said his transition out of management will be complete as of April 15th. He had been planning his transition since he turned 60, seven years ago.
Ten months ago, he temporarily stepped back into management as interim co-CEO for a one-year stint in order to help transition Greg Jensen's co-CEO responsibilities.
"Handling both a co-CEO job and a co-CIO job is tough," he said. "For that reason, we decided that Greg would shift his full attention to the co-CIO role. I will be doing the same in April. As I love markets, I'm excited about this change and expect to remain a professional investor at Bridgewater until I die or until those running Bridgewater don't want me anymore. So Bob Prince (who has been with Bridgewater for 31 years), Greg Jensen (who has been with Bridgewater 21 years), and I (who have been here 42 years) will remain focused on investing as co-CIOs."
David McCormick, currently president and at Bridgewater for eight years, will be stepping up to join Eileen Murray (who has been at Bridgewater for eight years and a co-CEO for four years) in the co-CEO role.
Jon Rubinstein will step out of the co-CEO role and will be leaving Bridgewater, though he...................... To view our full article Click here
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