Nir Bar Dea was appointed to the new position of deputy CEO by Bridgewater Associates earlier this month, said David H. McCormick, the firm's CEO, in a statement on LinkedIn.
The creation of the deputy CEO role is part of a reorganization Mr. McCormick is undertaking for the hedge fund manager, he said in the Feb. 11 memo. He noted that Mr. Dea "will partner with me across all aspects of managing Bridgewater" with an initial priority of implementing and running a new operating system.
Mr. Dea was co-head of Bridgewater's Investment Engine (the firm's investment department) and is replaced by Kevin Brenann who was head of investment research analytics, Mr. McCormick said. Osman Nalbantoglu remains co-head of the Investment Engine.
Ryan FitzGibbons, a Bridgewater spokeswoman, did not immediately respond to a request for information about Mr. Brennan's replacement.
Bridgewater manages $150 billion.
