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Bridgewater CEO McCormick to leave for Senate run -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. David McCormick (President of Bridgewater Associates) speaks at the Skybridge Alternatives Conference, Las Vegas, May 7, 2015. REUTERS/Rick Wilking/File Photo

(Reuters] – Bridgewater Associates Chief executive Officer David McCormick will leave his position to run in Pennsylvania’s open United States Senate Seat. The world’s biggest hedge fund announced Monday that McCormick would be stepping down.

With immediate effect, the company has appointed Nir Bardea as Deputy CEO and Mark Bertolini co-CEOs.

McCormick was a 2009 investment manager company employee and was made co-CEO in 2017. McCormick was named co-CEO in 2017.

McCormick was previously the U.S. Treasury Under Secretary for International Affairs during the George W. Bush Administration.

This outgoing CEO will join other Wall Street luminaries who have recently turned to politics. The October election will be held Citigroup Inc (NYSE:). Vice-Chairman Ray McGuire has resigned to run for New York mayor.

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