• Bridgewater Associates, the world’s largest hedge fund, has settled its compensation fight with former co-CEO Eileen Murray. 
  • A spokesperson confirmed the deal, but offered no details on the settlement size or terms.
  • Murray originally filed her lawsuit in July, saying the firm balked on up to $100 million in deferred pay after she disclosed her internal dispute to an industry body. 
  • Visit Business Insider’s homepage for more stories.

Bridgewater Associates settled a multimillion-dollar gender pay-disparity lawsuit with its former co-CEO Eileen Murray for an undisclosed amount of money, it said Monday.

A spokesperson for the Connecticut-based hedge fund confirmed the settlement to Business Insider, saying: “We are pleased that we were able to amicably and fairly resolve the discussions around Eileen’s post-employment benefits.”

Murray, who helmed the $140 billion firm from 2009 to earlier this year, originally filed her complaint in July after departing. She claimed the firm withheld up to $100 million in deferred compensation after she told FINRA about the pay dispute when joining the self-regulatory body’s board of directors.

“Bridgewater has used a false and otherwise grossly expanded, bad faith assertion under the terms of the Plan to claim forfeiture of Ms. Murray’s earned Deferred Compensation, all as part of a cynical plan to intimidate and silence her,” she said in the lawsuit.

The Bridgewater spokesperson declined to elaborate on the size or terms of its settlement with Murray.

“We have a tremendous amount of respect for Eileen and the many contributions she made to Bridgewater during her 10 years of helping to lead the company,” their statement continued. “She will always be a valued member of the Bridgewater community and we wish her well in her various new ventures.”

In September, The Wall Street Journal reported that another high-ranking woman at the hedge fund, research director

A women-run company led by investing titan Sallie Krawcheck, known as “the most powerful woman on Wall Street,” is taking on the ambitious role of narrowing the gender wealth gap.

“There have been two big drivers of wealth in our country: one of which has been real estate, which people of color have been redlined out of, the other of which has been investing,” Krawcheck told CBS News’ Michelle Miller. “And women and people of color have been kept out from that.”

The gender wage gap between men and women in the U.S. has been the subject of debate and countless campaigns for equality, and that wage gap is even steeper for women of color. That wage gap, coupled with women taking more time out of their careers to care for children and investing less than men, means that even women who successfully saved for retirement could find themselves with as much as $1 million less in assets than their male counterparts. 

“Women make 82 cents to a man’s dollar. It’s slowly getting better, but to be frank — it’s decades away from closing for White women, 100 plus years for Black women, and 200 plus years for Latinx women,” Krawcheck explained. 

The disparity then leads to a long term gender wealth gap, or “how much money we keep” versus how much is earned.

“That gender wealth gap is 32 cents for a man’s dollar, and just a single digit number of pennies for Black women,” she said. 

And unlike the wage gap, Krawcheck said the wealth gap is “moving in the wrong direction” and will take more than bigger paychecks to close. 

She realized it would take more than larger paychecks to close the widening gap — so in 2014, Krawcheck founded Ellevest, a digital investment platform designed