Nella Domenici's Wall Street Past: What She's Not Telling New Mexico in First TV Ad

May

2024

PRESS RELEASE

Nella Domenici's Wall Street Past: What She's Not Telling New Mexico in First TV Ad

Nella Domenici, a multimillionaire hedge fund executive who recently moved to New Mexico to run for office, released her first ad today, touting her ascent to Chief Financial Officer of the world’s largest hedge fund, Bridgewater Associates.

Not surprisingly, the ad conveniently glosses over her abysmal business record at Bridgewater, well known for its connection to scandal-ridden GOP candidate for Pennsylvania Senate David McCormick.

“Under Nella’s tenure as Chief Financial Officer of Bridgewater Associates, the world’s largest hedge fund, the company invested in Chinese companies later sanctioned by the U.S., had troubling ties to Russia and Vladimir Putin, and was plagued by scandals over workplace discrimination, illegal labor practices, and sexual harassment,” said Democratic Party of New Mexico Spokesperson Daniel Garcia. “Half a million dollars can’t hide the fact that Nella spent her life on the East Coast and recently moved back after she was recruited by Trump allies to run for New Mexico’s Senate seat. Nella is touting her business resume, but if you look closer, you’ll see a long string of bad judgment calls and questionable values that belong on Wall Street, not in New Mexico”

Under Domenici’s tenure as Chief Financial Officer, Bridgewater invested in Chinese companies later sanctioned by the U.S. The firm disclosed in filings with the U.S. Department of Labor, holding billions of dollars in common stocks of Chinese and Hong Kong companies. This includes millions of dollars in investments of Chinese companies that would later be sanctioned by the United States for their association with the Chinese military.

At the same time, Bridgewater expanded its deep ties with China and the Chinese Communist Party, including raising billions of dollars for its hedge fund clients from Chinese clients including the China Investment Corporation sovereign wealth fund and the State Administration of Foreign Exchange, which manages the country’s currency reserves, and had troubling ties to Russia and Vladimir Putin.

Also during her time, Bridgewater was plagued by scandals over workplace discrimination, illegal labor practices, and sexual harassment.