A former Steve Jobs lieutenant is stepping down from a key role at the world's largest hedge fund after just 10 months

pulse

March 1, 2017 3:21 PM

Jon Rubinstein is stepping down as co-CEO and staying on as an external advisor at Bridgewater Associates, the hedge fund announced Wednesday.

ray dalio jon rubinstein

One of the key men at the world's biggest hedge fund is stepping down.

Bridgewater Associates co-CEO Jon Rubinstein is stepping down and transitioning to an external advisory role in April after 10 months on the job, the firm told clients in a note Wednesday.

Last year Dalio told Business Insider why he hired Rubinstein, a former Apple executive who worked with the late Steve Jobs for 16 years.

"There are two things I look for when assessing people," he said then. "First, do we share similar values of producing greatness through thoughtful disagreement? Jon worked next to Steve Jobs for 16 years doing that, and he clearly wants to do that with us. Then I look at the skills we need. Jon has a world-class track record as both a leader of people and a shaper of technology, both of which we need."

Bridgewater's culture is famously unusual and difficult, and its leadership team has likened it to "an intellectual Navy SEALs." In its world of "radical transparency" and "radical truth," employees rate each other's performance in real-time on proprietary iPad apps, and nearly all meetings are recorded to be available for scrutiny. The company reports that 30% of employees leave the company within their first two years.

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