Direxion has added another member to its sales team. Stephen Rudman joined the fund company's advisor, Rafferty Asset Management, the advisor to Direxion Funds and Direxion Shares, as a managing director and the head of sales.

Rudman was formerly head of internal sales at PIMCO, where he played an important role in generating sales growth. Earlier in his career, Rudman was a vice president at Eaton Vance.

Rudman’s hire is part of Direxion’s build out on its strategic product side which includes its alternative products. So far in 2013 the company has also hired Patrick Rudnick as chief financial officer and Eric Falkeis as president and chief operating officer of Rafferty. Rudman reports to Falkeis.

"In addition to working with our client-facing team to provide solutions to investment professionals, I will spearhead efforts to help advisors achieve diversification by integrating our alternative investment products into their clients' portfolios."

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