Bridgewater adds Nagaswami as senior strategist

Ranj Nagaswami
Ranji H. Nagaswami, who was adviser to the New York City Retirement Systems, joined Bridgewater Associates, manager of the world's biggest hedge fund.

Ranji H. Nagaswami was hired by hedge fund manager Bridgewater Associates to serve in a “senior strategist role,” Ms. Nagaswami said.

Ms. Nagaswami had been adviser to the $122 billion New York City Retirement Systems, appointed by Mayor Michael Bloomberg two years ago. Her last day was Aug. 21. She was replaced by Janice Emery, former CIO at Pinnacle West Capital, said Lauren Passalacqua, a spokeswoman for Mr. Bloomberg.

Ms. Nagaswami was hired by the city in 2010 to make changes backed by the mayor and City Comptroller John Liu that would have consolidated management and investment practices among five pension funds run for police, firefighters, teachers, school administrators and civil-service workers. The plans were stymied by union opposition.

“It was an amazing two years, and I'm just ready to move on,” Ms. Nagaswami said in a telephone interview.

Bridgewater, the Westport, Conn.-based hedge fund manager founded by Ray Dalio, manages about $130 billion in assets. Ms. Nagaswami declined further comment on her new role at the firm.

Ms. Nagaswami previously served as CIO of AllianceBernstein (AB)'s blend strategies group, overseeing the firm's multiasset and blend equity portfolios. Before that she was co-head of U.S. fixed income at UBS Asset Management.