Dave McCormick

David McCormick
David McCormick
Born	David Harold McCormick; August 17, 1965 (age 61); Washington, Pennsylvania, U.S.
Occupation(s)	Businessman, politician, former military officer
Years active	1987–present
Known for	CEO of Bridgewater Associates (2020–2022), U.S. Senator from Pennsylvania (2025–present)

David Harold McCormick (born August 17, 1965) is an American businessman, former military officer, and politician who has represented Pennsylvania as the junior United States senator since 2025. Affiliated with the Republican Party, he served as the chief executive officer (CEO) of Bridgewater Associates—among the globe’s largest hedge funds—from 2020 until 2022.

A 1987 graduate of the United States Military Academy, McCormick saw combat during the Gulf War with the 82nd Airborne Division, where he was awarded a Bronze Star. He earned his Ph.D. from Princeton University in 1996. Between 2005 and 2009, he occupied multiple roles within the George W. Bush administration, culminating in his appointment as Under Secretary of the Treasury for International Affairs. After leaving public service in 2009, McCormick became president of Bridgewater Associates, later advancing to co-CEO in 2017 and then sole CEO in 2020 before resigning to pursue a Senate seat.

Following a narrow defeat in the 2022 Republican primary against Mehmet Oz, McCormick launched another campaign for the U.S. Senate in Pennsylvania in 2024, where he achieved a significant upset by narrowly unseating three-term Democratic incumbent Bob Casey Jr.

Early life and education

Born in Washington, Pennsylvania and raised near Pittsburgh, McCormick attended high school within the Bloomsburg area. His father, James H. McCormick, held leadership positions as president of Bloomsburg University and chancellor of the Pennsylvania State System of Higher Education, while his mother, Maryan G. McCormick, was a college educator.

McCormick graduated from West Point in 1987 with a Bachelor of Science degree in mechanical engineering. He was a four-time letter recipient and served as co-captain of the Army wrestling team, achieving runner-up status twice at 167 pounds in Eastern competitions.

In 1996, he completed a Doctor of Philosophy (Ph.D.) in international relations at Princeton University’s School of Public and International Affairs. Two years later, he authored The Downsized Warrior, a publication derived from his doctoral dissertation examining post–Cold War reductions within the U.S. Army.

In 2021, Dickinson College awarded him an honorary degree.

Military career

Upon graduating from West Point, McCormick attended both United States Army Airborne School and Ranger School, earning distinction as Honor Graduate at Ranger School. He was assigned to the 82nd Airborne Division stationed at Fort Bragg, North Carolina starting in 1987.

During the 1991 Gulf War, McCormick was among the initial U.S. forces deployed to Iraq, receiving a Bronze Star for his contributions. He served as executive officer for a combat engineering company tasked with clearing minefields and neutralizing enemy explosives. After five years of commissioned service, he departed the Army in 1992 holding the rank of Captain.

Private sector career

From 1996 until 1999, McCormick worked as a consultant at McKinsey & Co. in Pittsburgh.

In 1999, he joined FreeMarkets, a global provider of software and services that went public that same year. He was promoted to president in 2001 and assumed the CEO role in 2002. McCormick oversaw FreeMarkets’ acquisition by Ariba in 2004 for approximately $500 million and subsequently served as Ariba’s president for eighteen months before entering government service under President Bush.

Bridgewater Associates

McCormick became part of Bridgewater Associates in 2009 as president and advanced to co-CEO in 2017, where he managed the firm's operations and maintained relationships with institutional investors. By December 2019, he assumed the position of sole CEO, completing a leadership transition spanning ten years.

During McCormick's tenure, Bridgewater successfully raised 8 billion yuan (approximately $1.3 billion) for a private fund in China by late 2021. At the same time, while contemplating a U.S. Senate bid in Pennsylvania, he distanced himself from founder Ray Dalio, openly criticizing Dalio’s views on human rights issues in China. The firm also took strategic short positions against prominent Pennsylvania-based companies, including US Steel and Hershey.

McCormick exited Bridgewater on January 3, 2022, with Mark Bertolini and Nir Bar Dea appointed as co-CEOs to succeed him.

Bush administration

McCormick’s public service began in 2005 when he was appointed as the Under Secretary of Commerce for Industry and Security at the Commerce Department, where he managed export controls and contributed to the development of the India–United States Civil Nuclear Agreement. Subsequently, he served as Deputy National Security Advisor for International Economic Policy and acted as President George W. Bush’s envoy to the G8 prior to his move to the Treasury Department in 2007.

From 2007 through 2009, McCormick held the position of Under Secretary of the Treasury for International Affairs, serving as the principal U.S. economic diplomat on the international stage. He provided counsel to Treasury Secretary Henry Paulson on matters encompassing international finance, trade in financial services, investment policies, economic development initiatives, and sovereign debt management. McCormick coordinated financial market strategies with members of the Group of Seven and Group of Twenty (G20), working closely with finance ministers and their deputies. He was instrumental in orchestrating the global response to the 2008 financial crisis, utilizing his connections with international leaders and policymakers to support Treasury’s approach.

Consideration for roles in the Trump administration

Following Donald Trump’s election victory in 2016, McCormick was considered for the role of U.S. Secretary of Treasury, but was ultimately offered the position of U.S. Deputy Secretary of Defense, which he declined to remain at Bridgewater. In early 2019, he was again under consideration for the post of U.S. Secretary of Defense within the Trump administration.

In 2017, then-Defense Secretary James Mattis appointed McCormick to serve on the Defense Policy Board Advisory Committee, providing strategic advice to the U.S. Department of Defense. However, in 2020, President Trump removed McCormick along with other members associated with traditional foreign policy circles.

Political donations and endorsements

Since 2009, McCormick has contributed over $300,000 to various politicians, political parties, and political action committees. His donations have supported figures such as Senators John McCain, Mitch McConnell, and Representative Mike Pompeo. In 2014, he donated $25,000 to the Republican Governors Association and endorsed Jeb Bush’s campaign for president in 2016. Notably, he did not provide financial support to Donald Trump’s campaigns in either 2016 or 2020.

While predominantly backing Republican candidates, McCormick has also made contributions to Democratic politicians including congressional hopefuls Dan Helmer, Amy McGrath, and Senator Jack Reed.

2022

In December 2021, Republican leaders began encouraging McCormick to run for the Pennsylvania U.S. Senate seat that Pat Toomey was vacating. On November 22, 2021, Sean Parnell, who had Trump’s endorsement and was considered a leading candidate, withdrew following allegations of domestic violence. McCormick officially declared his Senate bid on January 13, 2022.

McCormick encountered scrutiny due to his recent residence in Connecticut and his role heading a hedge fund with investments in China. A Super PAC backing Mehmet Oz alleged that McCormick outsourced jobs from Pittsburgh to India during his tenure as CEO of FreeMarkets; McCormick denied outsourcing but admitted to cutting 40 to 50 jobs in Pittsburgh. In response to Oz, McCormick challenged him to relinquish his dual Turkish citizenship.

In February 2022, McCormick released a Super Bowl commercial addressing inflation and the U.S. withdrawal from Afghanistan, which included the chant "Let's go Brandon," a veiled critique of President Biden.

Trump endorsed Oz on April 10, highlighting Oz’s television fame and appeal among female voters. McCormick sought Trump’s endorsement but was told he needed to assert that the 2020 election had been stolen.

The Republican primary concluded with McCormick narrowly losing to Oz by 31.2% to 31.1%, prompting an automatic recount. McCormick’s campaign filed a lawsuit seeking the inclusion of undated mail-in ballots potentially favorable to him. Oz’s final lead was fewer than 1,000 votes. McCormick conceded on June 3.

Throughout the primary, McCormick ran ads criticizing Oz’s stances on abortion and gun rights, branding him a "Hollywood liberal" and a "RINO." According to Politico, these advertisements later damaged Oz’s prospects in the general election against Democrat John Fetterman, who ultimately prevailed.

2024

On September 21, 2023, McCormick announced his second run for Pennsylvania’s Class 1 Senate seat. Soon after his announcement, he received endorsements from the Pennsylvania Republican Party and former President Trump. Prior to declaring his candidacy, many Republican officials already favored him. His nomination path faced little opposition after two minor candidates were disqualified.

McCormick was present at the July 2024 rally in Pennsylvania during the assassination attempt on Donald Trump, standing in the front row beside Trump. He described the incident as "very scary" and remarked that Trump was "very lucky to be alive."

By November 7, Fox News projected McCormick as the winner; the Associated Press followed on November 12. Major networks such as ABC, CBS, NBC, and CNN called the race after incumbent Bob Casey conceded on November 21. McCormick’s victory was widely seen as an upset.

Tenure

McCormick took office on January 3, 2025. Shortly thereafter, on January 9, he attended the state funeral of Jimmy Carter.

He has supported all of Trump’s cabinet nominees, including Pete Hegseth for secretary of defense.

On March 11, 2025, McCormick co-introduced his first bipartisan and bicameral legislation alongside fellow Pennsylvania Senator John Fetterman. The bill aims to improve federal efforts in combating the fentanyl epidemic. McCormick highlighted that this legislation would "enable our federal government to coordinate all available resources to fight the trafficking of deadly fentanyl devastating American families."

Committee assignments

During the 119th Congress, McCormick's committee roles include:

2021 U.S. Capitol attack

McCormick voiced sorrow regarding the events of the 2021 Capitol assault, describing it as "a dark chapter in American history" that highlights the duty of leaders to encourage constructive dialogue. He placed considerable blame on former President Trump, asserting that history will render a stern judgment on all parties involved.

Free trade

Highlighting the advantages of free trade, McCormick remarked in 2008 that maintaining competitiveness relies heavily on openness to trade, investment, and workforce mobility. Although he previously argued that the overall benefits of free trade surpass the challenges of job displacement—advocating for retraining programs for those affected—he later endorsed President Trump's America First agenda. He opposed U.S. exports that could strengthen China's military capabilities and co-authored a 2009 opinion article in the Wall Street Journal Asia supporting the Trans-Pacific Partnership.

Foreign policy

McCormick supports an assertive American presence globally that promotes human rights while simultaneously addressing issues at home. In 2016, he stressed the importance of advancing equality and pluralism internationally by building upon America’s ongoing progress.

China

During the Bush administration in 2007, McCormick expressed that the prosperity of China directly benefits the United States, acknowledging that China's economic expansion has contributed positively to strengthening the relationship between the two nations. He encouraged China to appreciate its currency and later commended the Trump administration for adopting a firmer approach toward China.

Immigration

McCormick supports expanding the influx of skilled immigrants into the United States while also endorsing the construction of a barrier along the US-Mexico border.

LGBTQ rights

In 2013, McCormick was among 131 Republicans who signed an amicus brief advocating for the legalization of same-sex marriage prior to the Supreme Court decision in Obergefell v. Hodges. As CEO of Bridgewater Associates, he ensured that gender transition surgeries were fully covered by company health plans. Nevertheless, during his campaign for the Senate, McCormick opposed federal funding for gender transition procedures and was against transgender girls competing in girls’ sports.

Personal life

McCormick married Dina Powell in 2019; she is a former Deputy National Security Advisor under President Trump and an executive at Goldman Sachs. Before this, he was married to Amy Richardson until their divorce in 2015, with whom he shares four children. Through his marriage to Powell, he has two stepdaughters.

The couple currently lives in Pittsburgh’s Squirrel Hill area. They previously owned a residence in Westport, Connecticut—a location where his children attend high school and where he resided before entering politics. After divorcing in 2015, Richardson kept their main home in Westport; McCormick retained a property in Southport, Connecticut, along with 70 acres of farmland in Pennsylvania. In January 2023, he sold a condominium on Manhattan’s Upper East Side and now leases a $16 million house in Westport. As of March 2024, McCormick divides his time between Connecticut and Pennsylvania—a residency matter that became notable during his 2024 Senate campaign.

In 2009, McCormick held the position of Distinguished Service Professor at Carnegie Mellon University’s Heinz College campus in Washington, D.C., and was appointed to CMU’s board of trustees in 2011.

He is also a board member for both the United Service Organizations (USO) and the Hospital for Special Surgery (HSS).

Published works

The Downsized Warrior: America's Army in Transition (1998)
Superpower in Peril: A Battle Plan to Renew America (2023)
Who Believed in You?: How Purposeful Mentorship Changes the World (2025)

External links