Bridgewater Co-CIO Karen Karniol-Tambour to leave, become first CEO of Canada's new sovereign wealth fund

Nov 12 — According to Global Market Broadcast, Bridgewater Associates co-Chief Investment Officer Karen Karniol-Tambour will leave the firm to take charge of Canada's newly established sovereign wealth fund as its first CEO.

The Canada Strong Fund is one of the policy initiatives championed by Canadian Prime Minister Mark Carney. Carney seeks to strengthen Canada's key strategic industries, and crucially, to reduce the country's economic dependence on the United States. The fund is initially capitalized with C$25 billion (US$17.7 billion) from the federal government and will invest only in Canadian companies and projects in pursuit of long-term returns.

Karniol-Tambour, 41, has worked at Bridgewater ever since graduating from Princeton University in 2006. In 2023, during a large-scale corporate overhaul led by CEO Nir Bar Dea, she became co-Chief Investment Officer alongside Greg Jensen and Bob Prince. She oversees Bridgewater's Asia strategy, including its China investment management business. A person familiar with the matter said Bridgewater has no plans to hire or promote anyone else to replace Karniol-Tambour. Besides Jensen and Prince, Bridgewater has two deputy CIOs, Ben Melkman and David Trinh.