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Bridgewater Co-CEO Murray Joins Board at SoftBank-Backed Compass

Bridgewater Co-CEO Murray Joins Board at SoftBank-Backed Compass

(Bloomberg) -- Eileen Murray, who is preparing to step down as co-CEO of the world’s largest hedge fund, has joined the board of SoftBank-backed real estate brokerage Compass.

Murray, 62, has been at Ray Dalio’s Bridgewater Associates LP for more than a decade and plans to leave later this month. She previously worked at Morgan Stanley and Credit Suisse Group AG.

“Part of building a great company with a long-term vision is building a board of directors that will ensure we carry out that vision by institutionalizing our intentions,” Ori Allon, Compass founder and executive chairman, said in a statement. “Eileen is among the most accomplished executives in the finance industry. Her wealth of experience combined with her unparalleled track record provides Compass with invaluable board leadership as we continue to pursue our mission of helping everyone find their place in the world.”

Bridgewater Co-CEO Murray Joins Board at SoftBank-Backed Compass

In February, Compass -- one of the largest U.S. real estate brokerages -- named its first independent director, Pamela Thomas-Graham, to its board, which now comprises two women and three men.

SoftBank has sought to improve corporate governance at its portfolio companies, which also include DoorDash Inc. and WeWork, after the office-sharing startup faced criticism for not having a female director on its board when it filed paperwork for an initial public offering last year.

Goldman Sachs Group Inc.’s CEO David Solomon said earlier this year the bank would no longer take a company public in the U.S. or Europe if it lacks a director who is either female or diverse.

Compass, which generated revenue of more than $2 billion in 2019, recently laid off 15% of its workforce and predicted a 50% decrease in revenue over the next six months because of the coronavirus pandemic.

“Compass has been in hyper-growth mode since the day it was founded,” Murray said in a statement. “The company’s high-touch, high-tech approach has not only impacted its own bottom line, but those of Compass agents as well.”

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