Market Overview

Bridgewater's Ray Dalio To Transition From Co-CEO To Investor: I'll Be Here 'Until I Die'

Share:
Bridgewater's Ray Dalio To Transition From Co-CEO To Investor: I'll Be Here 'Until I Die'

Bridgewater Associates' Ray Dalio announced in a Wednesday client note he and co-CEO Greg Jensen will step down from managing the world’s largest hedge fund firm.

In the note posted to LinkedIn, Dalio said he will continue to serve as co-chief investment officer but, effective April 15, will no longer occupy a management position. He added that his present role was never permanent, but he had “temporarily stepped back into management as interim co-CEO for a one-year stint” in 2016 to provide stability during a CEO transition.

Related Link: Ray Dalio On Trump: A Profound, President-Led Ideological Shift Is Imminent

“Handling both a co-CEO job and a co-CIO job is tough,” Dalio wrote. “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.”

Dalio founded Bridgewater Associates — which manages $150 billion — in 1975 after having worked as a trader and broker at multiple firms. He has been with Bridgewater since and said he "expect[s] to remain a professional investor at Bridgewater until I die or until those running Bridgewater don’t want me anymore."

His client note announced additional role changes at the firm, including David McCormick’s rise to co-CEO alongside Eileen Murray and Jon Rubenstein’s departure.

Posted-In: Bridgewater Associates Greg Jensen Ray DalioNews Management Best of Benzinga

 

Related Articles (SPY)

View Comments and Join the Discussion!

Ambarella Lower After Q4 Beat Trumped By Lower Guidance

Stock Index Futures Extend Gains