×

Bridgewater lead marketing executive reportedly leaving world's largest hedge fund

  • Bridgewater marketing chief Parag Shah is leaving the hedge fund firm, The Wall Street Journal says.
  • Shah has worked at Bridgewater since 2002 and was part of the hedge fund's management team that talked to the firm's investors and clients, according to the Journal.
  • The firm is the world's largest hedge fund, managing about $160 billion, according to its website.

Ray Dalio speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.
David A. Grogan | CNBC
Ray Dalio speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.

Bridgewater Associates is losing another top executive, according to a report.

The Wall Street Journal is reporting that the firm's head of marketing Parag Shah "agreed recently to step aside," according to people familiar with the matter.

Shah has worked at Bridgewater since 2002 and was part of the hedge fund's management team that talked to the firm's investors and clients, according to the Journal.

The report said Shah will remain at the firm for a "period of transition."

Executive turnover is a frequent occurrence in recent years at Bridgewater. The Journal noted that the firm has had five chief executives since the beginning of 2016.

Bridgewater is known for its "Pure Alpha" investing product, which became the most successful fund ever in the industry. The fund combined multiple uncorrelated return strategies that are leveraged to maximize returns, while lowering risk.

The firm's founder, Ray Dalio, published a book entitled "Principles: Life and Work," which became available last month.

Bridgewater is the world's largest hedge fund, managing about $160 billion, according to its website. The firm did not respond to a request for comment.

See the full Wall Street Journal report here.