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Note: Bridgewater's rapid expansion led founder Ray Dalio to institute a bizarre culture of criticism. Can the world's largest hedge fund--which just had its best year ever--handle its own success?
{1} {2} {3} {4} {5} {Single page} // Sidebar: Dalio's market outlook
Bridgewater's Management Committee and Client Service Management team meet to discuss the 2011 plan.
What does the future hold for Bridgewater? Last year, Dalio began to vastly expand its management committee, part of a 10-year plan to "transition Ray's CEO responsibilities," the firm explained in its 2010 year-end letter to investors. In addition to having two co-CIOs, Bridgewater in 2010 named two co-CEOs. Jensen is both a co-CIO and co-CEO. The other co-CEO is David McCormick, who joined in 2009, having previously served as the Treasury Department's undersecretary for international affairs in the George W. Bush administration.
The financial collapse of 2008 appears to have benefited Bridgewater in more ways than one. Many on its newly expanded management committee previously held jobs in environments much different from Bridgewater's: the corporate and banking world decimated by the crash.
Eileen Murray joined in 2009 from Morgan Stanley, where she was controller and treasurer, among other positions. Joe Parsons joined from GE in 2010, Jim Comey was general counsel at Lockheed Martin until 2010 and had been deputy attorney general in the recent Bush administration, and Tony Murphy had been the CEO...