Bridgewater Co-CEO Calls Leadership Transition ‘Must-Win Battle’

Bridgewater Associates Co-Chief Executive Officer Nir Bar Dea said the firm’s new leadership has to rewire the organization following founder Ray Dalio’s decision to relinquish control.

The transition, which began 12 years ago, “was a must-win battle” and one on which the future of the company depended, Bar Dea said Wednesday at the Bloomberg Invest conference in New York.

Dalio, 73, built Bridgewater into the world’s biggest hedge fund, and relinquished control of the firm at the end of last month to a younger generation of leaders by transferring his voting rights to the board and stepping down as ...