Bridgewater Associates, the world’s largest hedge fund manager, has announced a shake-up in its upper echelons. Ray Dalio will step down from management, a role he re-assumed for ten months to help transition Greg Jensen into the co-chief executive officer position. Dalio said he intends to remain co-chief investment officer, now serving with Bob Prince and Jensen, until he dies or his services are no longer needed. David McCormick will join Eileen Murray as co-CEO, Jon Rubenstein is leaving as co-CEO but being retained in an advisory capacity, Osman Nalbantoglu after nine years is being promoted to senior researcher, Carsten Stendevad has been brought on as a distinguished fellow to serve in an advisory capacity, and John Megrue has been brought on as co-chair. Bridgewater manages $103 billion in hedge funds and is known for its “unusual and difficult” corporate culture. Dedicated to “radical transparency” and “radical truth,” employees rate each other in real-time on proprietary apps, all meetings are recorded, and 30% of employees don’t last two years.