Bridgewater Associates Names Two New CEOs as McCormick Exits
Posted on 01/03/2022
Bridgewater Associates was founded by Ray Dalio in 1975. David McCormick resigned from the CEO role to consider a run for the U.S. Senate in Pennsylvania. Dalio remains the Co-Chief investment officer and Co-Chairman of Bridgewater. Nir Bar Dea (age 40), the deputy chief executive of Bridgewater Associates, and Mark Bertolini (age 65), a Bridgewater Associates board member and former chief executive of Aetna, will now lead the hedge fund jointly as co-CEOs.
Nir Bar Dea joined firm in 2015 and was elevated to the No. 2 role in February 2021. A former major in the Israeli military, Nir Bar Dea has been an architect of pandemic planning for Bridgewater. Bertolini joined Bridgewater’s board in 2019. He was previously chief executive of Aetna, one of the largest health insurers in the U.S., and served in that role from 2010 through 2018 when Aetna was acquired by CVS Health in a US$ 69 billion deal.
