(Reuters) – Bridgewater Associates, the hedge fund founded by billionaire Ray Dalio, is naming Karen Karniol-Tambour as its third co-chief investment officer.
Karniol-Tambour, 37, joins Bob Prince and Greg Jensen as a full partner and will be responsible for the company’s investment strategy and outcomes, according to a company statement on Thursday.
She will be Bridgewater’s first female CIO, in an industry still predominantly led by men.
Karniol-Tambour joined as an investment associate on the fixed income team in 2006 and became head of investment research seven years later during which time she worked closely with Dalio, Prince and Jensen.
Karniol-Tambour promotion came few months after Dalio gave up control of one of the world’s biggest hedge fund.
(Reporting by Mehnaz Yasmin in Bengaluru and Carolina Mandl in New York; Editing by Krishna Chandra Eluri and Cynthia Osterman)