Mark Bertolini, former CEO of Aetna, was named co-CEO of Bridgewater Associates, the largest hedge fund in the world, according to a Jan. 3 news release.
Mr. Bertolini led Aetna as CEO and chair from 2010 to 2018 when it was acquired by CVS Health. Following the acquisition, he served as a director of the CVS Health board before being dropped from his role in 2020.
The announcement came as Bridgewater Associates shakes up its leadership, naming Mr. Bertolini to co-lead the company after serving as co-chair of its board of directors, according to the news release.
Bridgewater cited Mr. Bertolini's leadership amid the CVS Health and Aetna acquisition in choosing him to lead the hedge fund.
Mr. Bertolini and his co-CEO Nir Bar Dea transition into their new roles immediately, according to the announcement.