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Bridgewater paid off employee after relationship with top executive: WSJ

Posted by: Admin | Posted on: November 7th, 2017 | 0 Comments

(Reuters) – Bridgewater Associates paid a settlement to a woman who was pushed out after having a consensual relationship with top executive Greg Jensen, The Wall Street Journal reported on Tuesday.

Shortly after that incident occurred roughly three years ago, the company heard from another female employee that Jensen had groped her in the buttocks, the newspaper said.

The woman who complained of being groped has also left the hedge fund but didn’t leave because of the incident, and wasn’t pushed out, the Journal reported, citing people familiar with the matter. Neither woman was identified in the article.

Jensen, Bridgewater’s co-chief investment officer, described the description of his behavior as “inaccurate and salacious” in a statement emailed by Bridgewater to Reuters.

Bridgewater in the statement called the story “an uninformed misrepresentation of what actually occurred.”

According to the Wall Street Journal, the incidents were brought to Bridgewater’s attention roughly three years ago, when Jensen was co-chief executive of the world’s largest hedge fund.

Bridgewater’s billionaire founder Ray Dalio was personally involved in mediating both matters, the paper quoted the people as saying, and approved a settlement of more than $1 million for the woman who had a relationship with Jensen.

Reporting by Diptendu Lahiri in Bengaluru. Editing by Carmel Crimmins and Alden Bentley

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