Bridgewater Associates, former co-CEO Eileen Murray settle compensation dispute

FILE PHOTO: Eileen Murray, former Co-CEO of Bridgewater Associates, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Mike Blake/File Photo

(Reuters) - Bridgewater Associates said on Monday that former co-Chief Executive Officer Eileen Murray has settled a compensation dispute with the world’s biggest hedge fund nearly two and a half months after filing suit against the company.

The terms of the settlement, which was reported earlier by the Wall Street Journal, were not disclosed.

“I can confirm an agreement has been reached”, a Bridgewater spokesman said in an emailed statement. “We are pleased that we were able to amicably and fairly resolve the discussions around Eileen’s post-employment benefits.”

Murray filed suit against the world’s largest hedge fund in July, saying it was withholding up to $100 million in deferred compensation because she publicly disclosed a gender discrimination dispute with the firm.

“After thoughtful discussions with Bridgewater, we have arrived at an amicable and fair agreement regarding my departure from the company,” Murray said in a statement.

The executive, who stepped down as co-CEO earlier this year, had said in the suit that the circumstances surrounding her departure had given rise to substantial claims by her against Bridgewater based on gender discrimination, unequal pay and breach of contract.

According to the lawsuit, the withheld compensation was estimated to be in the range of $20 million to $100 million, due over the course of the next decade.

Murray joined Bridgewater, founded by billionaire Ray Dalio, in 2009 and became co-CEO in 2011.

She was one of the highest-ranking female executives in the industry as co-CEO of the company.

Reporting by Kanishka Singh and Jessica DiNapoli; Editing by Kenneth Maxwell and Shailesh Kuber