Alternative mutual fund shop Direxion has hired Greg Blue to serve as senior regional sales director, focusing on the Florida market.
Blue is responsible for selling and distributing all of Direxion's buy-and-hold alternative investment strategy products to financial advisors across all channels, including regional broker-dealers, registered investment advisors (RIAs) and wirehouses.
He reports to John Cadigan, national sales manager at Direxion.
Prior to joining Direxion, Blue was at John Hancock (where he worked eight years), serving as a senior vice president and business consultant responsible for expanding the company’s business in Florida. Direxion said that Blue “exponentially” increased Hancock’s sales in this market by broadening financial advisor headcount and relationships, making Florida one of Hancock’s top five business territories.
"Greg's track record of successfully building consultative relationships in Florida and throughout the Southeast will allow Direxion to bring alternative investment strategies to more advisors and investors in this important market," said Cadigan.
Earlier in his career, Mr. Blue was part of ING and Fidelity Advisor Funds.
Direxion has been making a number of moves in the buy-and-hold space this year. Earlier this month, the firm launched the Direxion Indexed Managed Futures Strategy Fund (Ticker: DXMAX), which is designed to replicate the Auspice Managed Futures ER Index. This index is a completely quantitative, rules-based managed futures index made up of 21 futures markets (containing both physical commodities and financials).