Hedge fund CEO resigns ahead of anticipated US Senate run
HARRISBURG, Pa. (AP) — David McCormick has resigned as CEO of one of the world’s largest hedge funds. That’s according to Connecticut-based Bridgewater Associates on Monday, as McCormick moves closer to declaring his candidacy for U.S. Senate in his native Pennsylvania. McCormick has already aired at least two TV commercials across Pennsylvania, bought a house in Pittsburgh and held closed-door meetings with party brass and donors. The 56-year-old McCormick has worked for Bridgewater Associates and lived in Connecticut since 2009. The race to replace retiring Republican Sen. Pat Toomey in bellwether Pennsylvania is expected to be one of a handful of competitive contests next year that will determine control of the Senate.