HomeOUSDP OfficesDefense Policy BoardDavid McCormick

David McCormick

Co-CEO, Member of the Management Committee
Bridgewater Associates
• Serve as member of the Management Committee, Executive Committee and Ethics Committee responsible for
overseeing and managing Bridgewater Associates, a global macro investment firm with over $170 billion in assets
under management and the world 's largest hedge fund.
• Manage all of Bridgewater's external activities, including marketing, client service, and public relations.
• Act as lead executive responsible for overseeing and maintaining deep advisory relationships with the largest, most
sophisticated (sovereign and private) investors in the world.
• Lead all commercial discussions and negotiations and oversee business side of Bridgewater.
• Oversee Bridgewater's interactions with key global economic policy makers to inform investment process.
• Represent Bridgewater with key investors, policy makers, opinion makers, and the media.

Distinguished Service Professor
Heinz College School of Public Policy and Management

Under Secretary for International Affairs - Department of Treasury
• Served as principal advisor to the Secretary of the Treasury and oversaw U.S. policy in international finance, trade
in financial services, and international debt.
• Led the international response to the financial market crisis through coordinating policy actions with developed and
emerging economies and regular communication with global financial leaders.
• Managed economic dialogues with China, India, Brazil, Gulf countries, and other major markets.
• Oversaw U.S. investment policy, including the Committee on Foreign Investment in the United States (CFIUS),
market access for U.S. companies, and coordination with sovereign wealth funds.
• Created multi-billion dollar clean technology fund for low carbon infrastructure in emerging markets.
• Served as board member for the Overseas Private Investment Corporation (OPIC) with $700 million of annual
project financing investments in emerging markets.

Deputy National Security Advisor, International Economic Policy - National Security Council
• Served as the principal White House advisor to the President for international economic policy.
• Acted as the President's personal representative and lead negotiator (sherpa) for the Group of Eight industrialized
• Coordinated U.S. economic dialogues with China, India, Brazil, Japan, and the EU.
• Led White House initiatives encouraging foreign investment in the United States.
• Oversaw high profile negotiations on Open Skies, defense technology treaties with the U .K. and Australia, climate
change, and international HIV/AIDS policy.

Under Secretary for Export Administration - Department of Commerce
• Developed policies affecting $215 billion in annual U.S. high technology exports and promoted U.S. global
leadership in critical technology industries.
• Led U.S. government efforts to reform technology export controls and the policies affecting the role of foreign
nationals in research and development.
• Directed senior level dialogues on technology trade with India and China.
• Oversaw a 400-person bureau with global policymaking, regulatory, and law enforcement responsibilities and
operations in China, India, Russia, and the United Arab Emirates.

President and Director - Ariba, Inc.
• Served as senior executive and director for a $340 million software and services company.
• Collaborated with the Chairman and Board to set vision and strategy for newly-merged company.
• Oversaw software and services operations across 25 offices and 2,000 employees worldwide.
• Led merger integration including creating a 200 person software engineering center in India.
• Established market leading position in procurement software and services.
• Drove $40 million in annualized cost reductions in the six months following the merger.
• Delivered strong improvement in operating profitability in the first year following the merger.

President, Chief Executive Officer, and Director - FreeMarkets, Inc.
• Served as chief executive and director for a $150 million software and services company.
• Led negotiation of strategic sale to Ariba for $500 million in cash and equity.
• Served as executive sponsor for CEO-level customer relationships across Global 1000 companies.
• Recruited and developed team of 1,000 professionals in 19 offices worldwide.
• Acted as the primary company spokesperson with investors, industry analysts, and the media.
• Created new market segment for sourcing software and services.
• Grew revenue by 800 percent from IPO in 1999 to sale in 2004 ($21 to $152 million).
• Achieved operating profitability and positive cash flow from 2002 through 2004.

Consultant - McKinsey & Company Inc.
• Advised senior executives on strategy, operations, and organization.