Rafferty Asset Management, advisor to Direxion Funds and Direxion Shares, has hired a chief operating officer and president. Eric Falkeis joins the firm in the newly created role with a mandate for growth.
He will focus on growing the firm’s non-leveraged, strategic index-based ETFs and its alternative strategy mutual fund lineup, in addition to exploring other expansion opportunities, and report to Dan O’Neill, chief executive officer of Rafferty.
Before joining Rafferty, Falkeis was chief financial officer and director of Exchange-Traded Fund Operations at U.S. Bancorp Fund Services, where he spent more than 15 years. While at U.S. Bancorp, Falkeis received the Money Management Executive’s Innovator of the Year Award
Falkieis worked on the Direxion account for over 10 years at U.S. Bancorp. He told Money Management Executive that Direxion's commitment to growth was what attracted him to the job, "What really intrigued me about Direxion was the focus on growth," he said.
"We'll be launching new ETF leveraged products and we plan to focus on new alternatives products which should launch towards the latter half of the year.We want to be selective about the products we launch so we'll be spending a signification amount of time structuring them."