Bridgewater’s Steinberg Killed in Plane Crash With Family

Bridgewater Associates executive Bruce Steinberg and his family were among ten Americans killed when a charter airplane crashed into a mountain in Panama and nicaragua , on Sunday.

“ The particular Bridgewater family lost Bruce Steinberg (a senior investor at Bridgewater and a wonderful man) and his household, ” Beam Dalio , the founder from the Westport, Connecticut-based hedge fund, mentioned in a statement on social media Monday. “ Right this moment, we are each processing this disastrous tragedy in our own ways. At the moment I will be devoting my attentions in order to doing this and helping others. ”

Steinberg, their wife Irene, and their kids William, Zachary and Matthew had been aboard the single-engine plane in order to crashed in the northwestern province associated with Guanacaste shortly after takeoff, in accordance to the New York Occasions. Other people in the Cessna operated naturally Air included four members of the family from Florida, another United states and two Costa Rican team members, the newspaper said. Almost all died.

Steinberg, 50, was a senior member of Bridgewater’ s research team, according to an organization spokeswoman. Prior to joining the hedge fund, he had worked at many banks including UBS AG, Regal Bank of Scotland Plc plus Credit Suisse Group AG, Finra records show.

The Steinbergs were from Scarsdale, New York. Matt was an eighth grader within private school, and his older siblings were both in college — Bill at the University of Pennsylvania plus Zachary at Johns Hopkins College.

Authorities in Panama and nicaragua , said strong winds were documented in the area of the crash and had been being examined as a possible factor in so what happened, according to the Associated Press.

“ No possibility can be overlooked for certain, ” the AP cited Michael Soto, mouthpiece director of Costa Rica’ ersus Judicial Investigation agency, as stating. “ We have two aspects: The key one would be some weather condition and when there was a mechanical issue. ”

Within another crash involving a small airplane, Compass Team Plc   Chief Executive Officer Rich Cousins and four members associated with his close family were murdered when a seaplane crashed in to the Hawkesbury River within Sydney.

At a news conference Sunday the particular director of Costa Rica Civil Modern aviation said the Nature Air charter damaged shortly after taking off from Punta Islita on a planned flight to the funds of San Jose, according to the AP.

The Steinbergs had been active in philanthropy and the nearby Jewish community, Rabbi Jonathan Blake of the Westchester Reform Temple within Scarsdale wrote in a statement upon its Facebook page. They were associated with the UJA-Federation of New York, the particular AJC  Jewish advocacy organization plus Seeds of Peace. They also had been members of the Sunningdale Country Club.

“ This tragedy strikes our community very hard, ” Blake wrote.