HARRISBURG — David McCormick has resigned as CEO of one of the world’s largest hedge funds, Connecticut-based Bridgewater Associates said Monday, as McCormick moves closer to declaring his candidacy for U.S. Senate in his native Pennsylvania.

McCormick has already aired at least two TV commercials across Pennsylvania, bought a house in Pittsburgh and held closed-door meetings with party leaders and donors.

McCormick, 56, had worked for Bridgewater Associates and lived in Connecticut since 2009.

The race to replace retiring Republican Sen. Pat Toomey is expected to be one of several competitive contests this year.