Hedge fund highflier Ray Daliois stepping down as Bridgewater Associates co-CEO as part of a company-wide shakeup.
Dalio, 67, said Wednesday he will step down as of April 15 from the role he had taken on 10 months ago. His $150 billion firm has been in a seven-year management and equity transition designed to find his successor.
Along with Dalio's move, Jon Rubinstein, who had been co-CEO with Dalio, is leaving the position though he will stay with the firm as an advisor.
His role entailed being co-CEO and co-chief investment officer, a dual role he said was difficult.
However, the move does not mean Dalio is leaving the firm he founded four decades ago.
"As I love markets, I'm excited about this change and expect to remain a professional investor at Bridgewater until I die or until those running Bridgewater don't want me anymore," Dalio said in a statement posted on LinkedIn.