Monday, May 27, 2024

Bridgewater chief investment strategist departs

Rebecca Patterson, chief investment strategist at Bridgewater Associates, is leaving the world’s largest hedge fund firm after three years.

“I’ve come to realize that my strengths and passion as an investor are best aligned with more discretionary, less systematic approaches,” she said in a LinkedIn post explaining her decision.

“I’m grateful for the opportunity to have helped build on Bridgewater’s already unparalleled research, including through our Daily Observations, to publicly share our insights with the world, and to engage with clients to shape investment solutions that address their goals.”

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She joined the firm in January 2020 as director of its investment research group and had been named chief investment strategist in January this year. She leaves at the end of 2022.

Patterson, who also served on the executive committee and led the firm’s diversity and inclusion work, did not reveal her next move.

A Bridgewater spokesperson thanked her for “tremendous contributions” since joining. “We are certainly stronger because of her, and she will always remain a close friend of the firm.”

Bridgewater’s largest strategy, Pure Alpha II, made about 8% in the first 11 months. The Connecticut firm declined to comment on performance.

Founder Ray Dalio stepped back from control of Bridgewater in October. Nir Bar Dea and Mark Bertolini are co-CEOs while Bob Prince and Greg Jensen are co-chief investment officers.

Now read: Bridgewater’s Greg Jensen on inflation, energy crisis and UK outlook