Jon Rubinstein 2016

Jon Rubinstein attends the Wall Street Journal interview event at the Venetian Hotel and Casino Resort on Jan. 8, 2010 in Las Vegas.

Denise Truscello/WireImage

Bridgewater Associates, the world’s biggest hedge fund manager ($154 billion in global investments) has hired former Apple executive and Steve Jobs confidant Jon Rubinstein as co-CEO, replacing Greg Jensen. He starts in May and will share the chief title with Eileen Murray.

Rubinstein spent 16 years at Apple, where he rose to svp and was instrumental in the creation of the iPod and its subsequent dominance in the portable media player market. During his tenure, Apple also developed the iMac and PowerMac personal computers. He later helped develop smartphones at Palm and was most recently the svp of product innovation at HP.

The Connecticut-based hedge fund announced the hire in a client memo, obtained by Business Insider.

"Technology is pervasively important at Bridgewater, especially since one of our major strategic initiatives in the coming years is to continue building out the systemized decision-making that has been so successful in our investment area and to extend it to our management as well," the memo reads. "Jon's track-record of building world class products will be a tremendous boost to the efforts we already have underway. We are thrilled to have him join us and bring his unique management and technology talents to our team."