ProFunds has tapped a sales veteran from UBS to head the sales efforts for its exchange-traded products sold through its ProShares Advisors unit. The hiring of the national sales manager comes as providers of ETFs report booming sales of the products and increasing reach into the retail market. ProFunds has focused on building its distribution through financial advisors with active trading strategies.

Robert Holderith will direct the national sales efforts at the month old unit and take the title of vice president and national sales manager, ETF Products at the Bethesda, Maryland-based ProShares Advisors. He reports to Gus Fleites, who heads up ProFunds Group's ETF initiatives and is the firm’s chief investment officer.

Before coming to ProShares, Holderith was a corporate vice president with UBS Financial Services where he worked with the brokerage firm's UBS Equity Models and ETF Models. He was also a senior member of the most successful wealth management team for UBS Wealth Management USA.

ProFunds launched ProShares on June 21 as part of its effort to launch ETFs with short and magnified exposure to the major equity indexes.  

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