Former Bridgewater Associates CEO David McCormick is stepping aside to run for a U.S. Senate seat in Pennsylvania. Sen. Pat Toomey will be retiring at the end of his term, and the race to replace him could determine the control of the Senate. The Republican field includes Mehmet Oz, a celebrity surgeon, conservative commentator Kathy Barnette, and former ambassador to Denmark, Carla Sands.
In 1999, McCormick joined FreeMarkets, a global provider of financial software and conducts IPOs. He became president and CEO in 2001, and served as the company’s chairman for eight years. In 2002, McCormick joined Ariba, an investment firm that manages $5.1 billion for Chinese sovereign wealth funds. After leaving Ariba, McCormick was promoted to president. Then, he spent 18 months in the Trump administration, as the deputy national security adviser.
Before becoming a hedge fund CEO, McCormick was an undersecretary at the Department of State. He studied at Carnegie Mellon University and later became President and CEO of FreeMarkets. In 2001, he became co-CEO of Bridgewater, a $150 billion hedge fund. While there, McCormick had several connections across finance, and was considered a friend of the Chinese government by the American Leadership Committee.
Before becoming a political candidate, McCormick worked as a senior advisor to the Obama administration. He served as the U.S.’s top economic diplomat. In this position, he oversaw international finance, investment, and economic development policies. His wife, Dina Powell, was a deputy national security adviser in the Trump administration and returned to Goldman Sachs.
In addition to being a close friend of President Obama, McCormick also has connections in government and finance. He has been living in Connecticut since 2009, but in 2006, he had bought a house in Pittsburgh’s East End. He lived in the area two decades ago and before 2005, but he now lives in Connecticut. This means that he’s a friend of the Chinese government.
The former CEO of the world’s largest hedge fund, Bridgewater, has been named the next president of the United States by a Democratic party. He has long been a friend of the Chinese government. He formerly served as the chief executive of the global financial firm FreeMarkets Inc. in the late 1990s. He was a member of the Obama administration from 2005 to 2007, and now resides in Pittsburgh with his wife.
Bridgewater Capital Management, the world’s largest hedge fund, is run by billionaire Ray Dalio. The fund is currently estimated to manage $150 billion in assets. Although the billionaire Dalio has been a part of the company for decades, he has only been a co-CEO since 2011. However, he remains co-chairman and co-chief investment officer, among other titles.
In the past, McCormick has been a prominent American diplomat and former Treasury Secretary Henry Paulson’s principal economic adviser. He oversaw policies related to international debt, trade in financial services, and economic development. In addition, he also oversaw the management of $80 billion of sovereign wealth funds. And he has a history of working with China.
Former Bridgewater CEO David McCormick has entered the race to be the next U.S. Senate in Pennsylvania. In his bid to make history, McCormick is a highly respected and highly regarded international businessman. The company’s CEO, Nir McCormick, has a long history of experience and vast knowledge of the economy and markets.
In addition to the Senate race, McCormick’s campaign is likely to have a high profile. As a former Bridgewater CEO, he was also a candidate for the Democratic presidential nomination. His campaign has been a success story of a conservative candidate. As a result, it’s not hard to see that he can make history in the future.