Harris Leaves Bridgewater after Seven Months

June 14, 2005 (PLANSPONSOR.com) - Britt Harris, chief executive officer of Bridgewater Associates, has announced that he is stepping down from the post seven months after he took the position.

In a message to employees, Harris praised the culture of the Westport, Connecticut-based institutional investment firm, but said it was not as comfortable a fit as he and President Ray Dalio had first thought. Harris acknowledged that he was not the best individual to lead the company forward, said informed sources.

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Before joiningBridgewater in November 2004 (See Harris Named as Bridgewater Associates CEO), Harris had most recently been president of the Verizon Investment Management Corporation.

Bridgewater manages investment portfolios and a hedge fund for institutional clients, including pension funds, endowments, foundations, foreign governments and central banks. The firm, founded in 1975, has more than 200 clients. More information is at http://www.bwater.com/default.htm .

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