Bridgewater, which manages around $150 billion in assets, stands out within the secretive hedge<br />fund industry for its culture of radical transparency that Mr. Dalio recently called “unusual.”<br />“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<br />Bridgewater Associates, World’s Biggest Hedge Fund, Shakes Up Leadership -<br />By ALEXANDRA STEVENSON and MATTHEW GOLDSTEINMARCH 1, 2017<br />Ray Dalio, the 67-year-old billionaire founder of Bridgewater Associates, is stepping down<br />from the helm of the world’s biggest hedge fund in a management shake-up at the firm.<br />Mr. Dalio also said that Jon Rubinstein, the former Apple executive<br />that Mr. Dalio hired less than a year ago to become co-chief executive, would leave the firm.<br />About Mr. Rubinstein’s departure, Mr. Dalio said that both men “mutually agree that he is not a cultural fit.”<br />David McCormick, the firm’s president, will step in as co-chief executive with Eileen Murray.
