David McCormick is resigning as CEO of the Westport-based hedge fund Bridgewater Associates to explore a potential campaign to secure the Republican nomination for the U.S. Senate in Pennsylvania.
McCormick is a West Point graduate and Gulf War veteran who served an official in the Treasury Department during President George W. Bush”™s administration. He joined Bridgewater in 2009. He was named co-CEO in 2017 and assumed the full chief executive position in 2020.
Bridgewater, which is the world”™s largest hedge fund with $150 billion under its management, named two new co-CEOs to replace McCormick: co-CEO deputy chief executive Nir Bar Dea and board member Mark Bertolini, who was a former CEO at Aetna.
If he officially declares his candidacy to succeed retiring Sen. Pat Toomey, McCormick will be joining a crowded field of Republican primary candidates that includes television talk show host Dr. Mehmet Oz, former U.S. Ambassador to Denmark Carla Sands and businessman Jeff Bartos.
