Dave McCormick

Dave McCormick is an American businessman, United States Army veteran, and Republican politician. A former CEO of the world's largest hedge fund, Bridgewater Associates, he has been a candidate for the United States Senate from Pennsylvania. His career spans high-level roles in finance, government service in the George W. Bush administration, and competitive statewide politics.

Early life and education

He was born in Washington, Pennsylvania, and raised on a family Christmas tree farm in Blooming Grove. He attended the United States Military Academy at West Point, graduating in 1987 and receiving his commission as an officer in the United States Army. He served as a captain in the 101st Airborne Division, seeing combat during the Gulf War and earning the Bronze Star Medal. Following his military service, he earned a Master of Public Administration and a PhD in international relations from the Princeton School of Public and International Affairs at Princeton University.

Business career

After completing his doctorate, he began his finance career at McKinsey & Company. He later co-founded the software company FreeMarkets, which went public and was subsequently acquired by Ariba. In 2005, he joined the Bush Administration but returned to the private sector in 2009 as a senior executive at Bridgewater Associates, the world's largest hedge fund, based in Westport, Connecticut. He served as the firm's president and later its CEO, managing investments and operations before stepping down in 2022. His business tenure also included serving on the board of directors for the U.S. Steel Corporation.

Political career

His government service began in 2005 when he was appointed by President George W. Bush as the Under Secretary of the Treasury for International Affairs. In this role at the United States Department of the Treasury, he worked on international economic policy, engaging with institutions like the International Monetary Fund and the World Bank. He later served as the Under Secretary of Commerce for Export Administration in the United States Department of Commerce, focusing on technology security and export controls. In 2022, he launched a campaign for the United States Senate in Pennsylvania, seeking the Republican nomination to challenge incumbent Democrat John Fetterman. He lost the primary by a narrow margin to celebrity physician Mehmet Oz, who was endorsed by former President Donald Trump. He launched a second campaign for the Senate in 2024.

Political positions

He identifies as a conservative Republican, advocating for policies such as reduced federal spending, deregulation, and energy independence, particularly supporting the natural gas industry in Pennsylvania. On foreign policy, he takes a hawkish stance, emphasizing a strong stance against China and robust support for Israel and Ukraine. He has expressed support for securing the southern border and has criticized aspects of the Affordable Care Act. His campaign rhetoric often focuses on economic issues, national security, and countering the influence of the Chinese Communist Party.

Electoral history

In the 2022 Republican primary for the U.S. Senate election in Pennsylvania, he was defeated by Mehmet Oz by a margin of approximately 0.1% after a statewide recount. Oz subsequently lost the general election to Democrat John Fetterman. He is the Republican nominee for the 2024 U.S. Senate election in Pennsylvania, where he will face incumbent Democratic Senator Bob Casey Jr..

Personal life

He is married to Dina Powell, a former deputy national security advisor in the Trump administration and former managing director at Goldman Sachs. They reside in Pittsburgh. He has four daughters from a previous marriage. An avid outdoorsman, he often references his upbringing on a farm and his military service as foundational experiences. He serves on several non-profit boards, including those focused on veterans' issues and economic policy research. Category:American businesspeople Category:Republican Party candidates for United States Senate from Pennsylvania Category:United States Army officers