US-based hedge fund Bridgewater Associates sued by former co-CEO Murray

Bridgewater Associates co-chairman Ray Dalio. Photo by Emily Hey. Nikkei Asian Review.

Bridgewater Associates former co-Chief Executive Officer Eileen Murray filed a lawsuit against the hedge fund on Friday, saying it is withholding up to $100 million in deferred compensation because she publicly disclosed her gender discrimination dispute with the firm.

Murray, who stepped down as coCEO earlier this year, said in the suit that the circumstances surrounding her departure had given rise to substantial claims by her against Bridgewater based on gender discrimination, unequal pay and breach of contract.

Murray had informed the Financial Industry Regulatory Authority (FINRA), a self-regulatory agency that she now chairs, of the dispute with Bridgewater, which is the world’s largest hedge fund. In response, Bridgewater told Murray on July 14 in writing that her public disclosures of her dispute with the firm would result in a forfeiture of her deferred compensation, according to the complaint.

According to the lawsuit, which was filed in federal court in Connecticut, the withheld compensation is estimated to be in the range of $20 million to $100 million, due over the course of the next decade.

In the suit, Murray, who was one of the highest-ranking female executives in the industry as coCEO of the hedge fund, called Bridgewater‘s attempt to withhold the deferred pay an “improper gambit to silence her voice” and “part of a cynical plan to intimidate and silence her.”

The hedge fund said it had no immediate comment on the lawsuit.

Murray, 62, joined the hedge fund, founded by billionaire Ray Dalio, in 2009 and became coCEO in 2011.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.