David McCormick worked in the Bush White House as the US Depository Under Secretary for International Affairs and served in the US Armed forces. Now he is planning a run for the US Senate.
As Bridgewater CEO, McCormick manages one of the world’s largest mutual funds. He has said that he “will be stepping down.” Deputy CEO Nir Bar Dea and co-Chair Mark Bertolini will become co-CEOs to replace McCormick. He joined the investment firm in 2009 and was named a co-CEO in 2017. In April, he turned into the sole head when co-CEO Eileen Murray resigned.
What other organization runs with two senior leaders occupying the same throne simultaneously? Maybe sharing power has prepared McCormick for the US Congress’s negotiation factory.
Bridgewater Associates Chief Executive Officer David McCormick intends to run for an open United States Senate seat in Pennsylvania that Republican Senator Pat Toomey is vacating.
McCormick joins Wall Street veterans who have changed career paths and moved into politics. Citigroup Vice-Chairman Ray McGuire ran for mayor of New York and lost to Eric Adams.
If conservatives expect to keep the US Senate seat in Pennsylvania, then McCormick may be the big money ticket they need to run. He left his job as boss at Bridgewater Associates Monday, January 3, 2022. McCormick has a great foundation and business experience.
He was raised in Pittsburgh, attended West Point, served in the Army, and received his Ph.D. in International Relations from Princeton University. As a public safety expert, Dina Powell, McCormick’s wife, served in the Trump and Bush Administrations. Typical power couple stuff.
After this announcement, McCormick will likely gather much of the elite donors to his campaign. Still, he must beat a few other aspiring Senators who have tossed their hats in the Republican primary ring.
Philadelphia-based television superstar doctor Mehmet Oz is in the race. Jeff Bartos, Finance manager, and 2018 Pennsylvania lieutenant governor nominee, is also running for the seat. Carla Sands also declared her candidacy. She is chair and CEO of Vintage Capital Group and was ambassador to Denmark under President Donald Trump. However, the strongest challenge may come from Kathy Barnette, a veteran, a former adjunct Professor of Corporate Finance, and conservative commentator.
Pennsylvania will probably have one of the most cutthroat, mudslinging, and dirty political races in the United States. Thanks to the shenanigans in Philadelphia in 2020, expect more controversies in the Keystone state this time around. Alongside Arizona, Georgia, North Carolina, and Wisconsin, expect voters in Pennsylvania to decide control of the US Senate during this upcoming election cycle.