Former CEO of Bridgewater drags the world’s largest hedge fund to court

Bridgewater Associates former co-chief executive officer Eileen Murray escalated her feud with the $138 billion firm founded by billionaire Ray Dalio, seeking a court order that public disclosures of her dispute with the company won’t void her right to deferred compensation.

According to a report by Bloomberg, Murray, 62, has been negotiating with the world’s biggest hedge fund for three months over her departure package — a fight that has dragged on because Bridgewater’s offer was less than what has been paid to men who left the firm and below the status of her position, according to one of Murray’s advisers. It was the third time since 2017 that the firm had offered her compensation that was lower than that of male colleagues of comparable levels, according to the person.

In her suit, filed Friday in federal court in Connecticut, Murray says the firm told her in writing on July 14 that her public disclosures about her dispute with the company will lead to forfeiture of her deferred compensation, which she said could range from $20 million to $100 million. She called the firm’s attempt to withhold the deferred pay an “improper gambit to silence her voice” and a “cynical plan to intimidate and silence her.”

Bridgewater didn’t immediately respond to a request for comment.

When Murray, who joined Bridgewater in 2009 and became co-CEO two years later, departed in April she was the lone woman among the top four non-investment executives at the firm, and the longest tenured other than Dalio. She was elected chairman of the Financial Industry Regulatory Authority in June and has joined other corporate boards this year.

The case is Murray v Bridgewater Associates, 20-cv-1052, U.S. District Court, District of Connecticut.