Bridgewater Associates is naming Karen Karniol-Tambour as its third co-chief investment officer (CIO), making her the first woman to hold the most senior investing position within the company.
- The $125-billion hedge fund Bridgewater Associates has named the first woman to hold a senior investing position.
- The announcement comes as the firm reworks its leadership team following the step down of founder Ray Dalio.
- Karniol-Tambour will be the co-CIO, along with Greg Jensen and Bob Prince.
Why it’s news
The largest hedge fund in the world is reorganizing its leadership roles, adding a woman into one of the most senior investing roles for the first time within the company.
Bridgewater Associates has begun reworking its leadership team after founder Ray Dalio stepped away from the $125-billion investment firm. In September, Dalio transferred all of his voting rights to the board of directors and stepped down as co-chief investment officer.
Dalio said the step down was crucial in his goal of creating a legacy. He then gave control of his company to the next generation of investors within Bridgewater.
Since the step down, Bridgewater has made many changes, including the most recent—adding Karen Karniol-Tambour as its third co-CIO.
Karniol-Tambour joined the company in 2006, directly after graduating college, and within two years, she had worked up to working with the CIOs, helping them out during the financial crisis of 2008.
“I’ve known Karen since I recruited her to Bridgewater as a college senior, and for all that time, I’ve admired how she lives our values,” says CIO Greg Jensen. “We are lucky to have her leading at the highest level of Bridgewater, and I’m thrilled to have her partnering even more closely with our leadership team going forward.”