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Bridgewater executive McCormick declines Defense Department role

David McCormick, President Bridgewater Associates, speaks on a panel at the annual Skybridge Alternatives Conference (SALT) in Las VegasBy Lawrence Delevingne NEW YORK (Reuters) – David McCormick has declined an offer to be U.S. deputy secretary of defense in President-elect Donald Trump’s administration, a person familiar with the situation said on Tuesday. It had been unclear how seriously McCormick – an Army veteran and former federal official who is now president of the world’s largest hedge fund manager, Bridgewater Associates LP – had been considered for the post. McCormick, who had previously been under consideration to be Treasury Secretary, declined partly because he is happy with his job at Bridgewater and the government role was not the right fit, said the person, who requested anonymity because the information is private.

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