Former Bridgewater Associates employee James Comey will receive a multi-million dollar payout from the hedge fund if he is confirmed to be the next director of the Federal Bureau of Investigation.
Bloomberg Businessweek reported that Comey, who left Connecticut-based Bridgewater in January as its general counsel, would receive approximately $3.07 million as part of his interests in the firm’s profit-sharing plan.
If Comey is confirmed to head the FBI by the U.S. Senate, he would receive the payout prior to him assuming the new position.
President Barack Obama nominated Comey, who also served as the deputy attorney general in the Bush administration, to run the FBI last month. Comey is scheduled to testify Tuesday in front of the Senate Judiciary Committee for the nomination.
Founded by Ray Dalio, Bridgewater Associates is the world’s largest hedge fund with $144 billion in assets.