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Rating:An Ex-Pimco Exec Will Lead Sales for an Alts Shop Not Rated 1.0 Email Routing List Email & Route  Print Print
Monday, May 20, 2013

An Ex-Pimco Exec Will Lead Sales for an Alts Shop

Reported by Tommy Fernandez

Stephen Rudman
Managing Director, Head of Sales
For every door that closes, another opens.

Mere weeks after one of its executives, RIA sales vice president Angelo Pirri, left to join HSBC, Direxion has hired a managing director and head of sales.

And this new hire, Steve Rudman, joins from Pimco.

With more than 25-years of industry experience, Rudman had served as head of internal sales at PIMCO. Before that, he was a vice president at Eaton Vance.

Here is the press release:

Company Press Release

Former PIMCO Sales Executive Will Lead Sales Initiatives for The Alternative Investment Firm

  Direxion, a leader in alternative investment solutions, announces that Stephen Rudman has joined Rafferty Asset Management, the advisor to Direxion Funds and Direxion Shares, as a Managing Director and the Head of Sales. In this role, he will lead all of Direxion’s sales initiatives for both its exchange-traded fund (ETF) and alternative-strategy mutual fund products, and is part of the firm’s senior leadership team.  

Mr. Rudman has more than 25 years of experience in the financial services industry. Prior to Direxion, Mr. Rudman served as Head of Internal Sales at PIMCO, where he played an important role in generating sales growth. Earlier in his career, Mr. Rudman was a Vice President at Eaton Vance in Florida, where he successfully grew their client base and assets.

  “Direxion is uniquely positioned to capitalize on the growing demand among investors for short- and long-term alternative investment strategies, and I look forward to leading efforts to deliver Direxion’s products to a greater number of investors,” said Mr. Rudman. “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.”  

Mr. Rudman reports to Eric Falkeis, President and Chief Operating Officer of Rafferty. Mr. Falkeis joined Direxion earlier this year. Direxion also announced that Patrick Rudnick was appointed Chief Financial Officer earlier this month.  

“Steve’s extensive experience implementing strategic corporate initiatives and building effective client-facing teams make him an ideal fit for Direxion’s senior leadership,” said Mr. Falkeis. “He’ll be instrumental in our plans for extending the distribution of our innovative strategies among financial advisors.”

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