The most powerful woman in hedge funds is stepping down.

Bridgewater Associates said Tuesday that co-Chief Executive Eileen Murray is leaving the world’s biggest hedge fund in early 2020. David McCormick will take over as the sole CEO.

The 61-year-old Murray was rumored to be in the mix for the top job at Wells Fargo earlier this year. She has survived numerous power struggles at Bridgewater during her tenure, partly because of a close bond with the fund’s founder, Ray Dalio.

McCormick will be the first solo CEO of Bridgewater since Dalio elevated Murray to share the role with him in 2011.

One of nine children of Irish immigrant parents raised in the Inwood neighborhood of Upper Manhattan, Murray vaulted into the highest echelons of finance after attending Cardinal Spellman High School.

After leaving Morgan Stanley’s executive committee in 2007, Murray joined Dalio at his fast-growing firm in 2009. Within two years, Murray was Dalio’s co-CEO, a female chief executive at a $50 billion fund. Today, Bridgewater manages roughly $160 billion.

Murray spent eight years as co-CEO at Bridgewater, whose brutal culture of “radical transparency” encourages confrontation.

Known for her toughness in hedge fund circles, Murray once famously replied, “Harvard? Never heard of it,” when Ivy League-educated colleagues mocked her BA in accounting from Manhattan College.