Compass announced Thursday that Eileen Murray, the co-CEO of hedgefund giant Bridgewater Associates, is joining the company’s board of directors. The move to add a top name in the finance world comes amid a real estate industry slowdown.
“Part of building a great company with a long-term vision is building a Board of Directors that will ensure we carry out that vision by institutionalizing our intentions,” Ori Allon, Compass’ co-founder and executive chairman said in a statement.
“Murray is among the most accomplished executives in the finance industry. Her wealth of experience combined with her unparalleled track record provides Compass with invaluable board leadership as we continue to pursue our mission of helping everyone find their place in the world.”
Murray began her career in the finance industry at Morgan Stanley more than three decades ago. She held a number of top positions within the company, including global head of technology, treasurer, controller and chief operating officer for the firm’s investment banking business. In 2002 she moved to Credit Suisse as head of global technology, operations and product control.
Since 2014, Murray has served as co-CEO of Bridgewater, a $160 billion hedge fund management firm.
“Compass has been in hyper-growth mode since the day it was founded,” Murray said in a statement. “The company’s high-touch, high-tech approach has not only impacted its own bottom line, but those of Compass agents as well.”
“This consistent focus, coupled with increasingly strong indicators of scalable, profitable growth makes this an incredibly exciting time to join the Compass Board.”
In February, Compass appointed its first independent member in Pamela Thomas-Graham, founder and CEO of Dandelion Chandelier, a digital media company that focuses on luxury products.
Compass is bolstering its board of directors at a time when the industry is seeing a major slowdown due to Covid-19, which has included the banning of real estate activity in certain states. Compass itself was not insulated to the slowdown and was forced to layoffs hundreds of staffers, anticipating plunging revenues.