They succeed David H. McCormick, an under secretary of the Treasury in the administration of President George W. Bush. He is considering a run for the U.S. Senate seat in Pennsylvania being vacated by Republican Pat Toomey, who is retiring.
“Through this Co-CEO model, we are getting a powerful combination of Nir, a well-respected internal leader who has worked closely with Dave, management, and the (chief information officers) for six years, and Mark, who has enormous experience and is a globally respected and proven CEO,” founder Ray Dalio and other executives said in a statement posted on its website.
Bridgewater said Bertolini led Aetna’s transition from a “traditional health insurance company to a consumer-oriented health care company focused on delivering holistic, integrated care in local communities.”
Dalio, Bridgewater’s co-chief investment officer, and Bertolini share an outlook that’s critical of conventional health care and economics.
Bertolini, 65, has promoted his vision of a modest and local health care systems rooted in communities using “smaller and smaller governance models.” He has said social and economic systems have gotten too big for government to manage.
He negotiated the $69 billion acquisition of Aetna, a presence in Hartford since 1853. He was thwarted a few years earlier when a federal judge blocked his bid to buy Humana Inc. for $37 billion.
Dalio, 72, told an audience at the Greenwich Economic Forum in November 2019 that capitalism needs to be fixed and does not work for the “average person.”
Bridgewater and then-Gov. Dannel P. Malloy faced criticism in 2016 when the hedge fund received $22 million in forgivable state loans and grants to create 750 jobs and keep the 1,402 positions it then had. The money was to be used to renovate and expand the firm’s Westport headquarters and operations in Wilton and Norwalk.
Stephen Singer can be reached at firstname.lastname@example.org.
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