It's official now.

Direxion [profile] has officially announced the appointment of Eric Falkeis as president and chief operating officer of Rafferty Asset Management, the advisor to Direxion Funds and Direxion Shares.

MFWire broke this story three weeks ago.

Falkeis was recently chief financial officer and director of ETF operations at U.S. Bancorp Fund Services, where he reportedly worked closely with Direxion for more than a decade.

At Direxion, Falkeis will report to Dan O’Neill, Rafferty's chief executive officer. Falkeis is Rafferty’s first COO, and will work alongside O’Neill to oversee day-to-day business operations and lead strategic planning and business development efforts. In the latter area, Falkeis reportedly intends to ensure Direxion’s leveraged and inverse ETF platform continues to experience organic growth. He will also 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.

Here is the press release:

---

Company Press Release

Former Money Management Executive “Innovator of the Year” Will Lead Strategic Planning and Business Development

  Direxion, a leader in alternative investment solutions, announces that Eric Falkeis has been appointed President and Chief Operating Officer of Rafferty Asset Management, the advisor to Direxion Funds and Direxion Shares. He was most recently Chief Financial Officer and Director of Exchange-Traded Fund (ETF) Operations at U.S. Bancorp Fund Services, where he worked closely with Direxion for more than a decade.

  At Direxion, Mr. Falkeis will report to Dan O’Neill, Chief Executive Officer of Rafferty. Mr. Falkeis is Rafferty’s first COO, and will work alongside Mr. O’Neill to oversee day-to-day business operations and lead strategic planning and business development efforts. In the latter area, Mr. Falkeis intends to ensure Direxion’s leveraged and inverse ETF platform continues to experience organic growth. He will also 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.

  “Working closely with Direxion for 14 years gives me unique insights to help identify ways we can maximize the profitability and efficiencies of Direxion’s ETFs and mutual funds, while pursuing additional avenues for growth,” said Mr. Falkeis. “Direxion remains committed to maintaining and expanding its array of alternative investment strategies in order to help short- and long-term investors pursue healthy returns in both bear and bull markets.”

  Mr. Falkeis spent more than 15 years at U.S. Bancorp Fund Services, where he received Money Management Executive’s Innovator of the Year Award and grew the firm into a top ETF service provider. He holds a Certified Public Accountant (CPA) designation, received his Bachelor of Business Administration degree in Accounting from Marquette University and is a member of the Marquette University Accounting Advisory Board. 

  “Direxion’s products are unique investment vehicles which Eric has played an integral role in building,” said Mr. O’Neill. “Eric’s expertise will prove vital to our clients as they seek out a wider variety of dynamic, active and cost-effective portfolio strategies that allow them to grow their businesses.”

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE