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Rating:With Direxion Hire, an Alt Shop Plans a B-D Blitz Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 28, 2013

With Direxion Hire, an Alt Shop Plans a B-D Blitz

Reported by Tommy Fernandez

ETF and alt fund shop Arrow Investment Advisors [profile] has hired a new general, John Cadigan, to lead its sales army in a new push into broker-dealer territory.

Cadigan was most recently managing director and national sales manager for Direxion Funds, having worked there since September, 2011.. Before that, he served ten years at Rydex, now part of Guggenheim Investments.

Cadigan was replaced at Direxion by ex-Pimco executive Steve Rudman.

Arrow executives cited Cadigan's experience at both Direxion and Rydex as key for Arrow's future plans. The shop says that while at Direxion, Cadigan developed the distribution strategy for that firm's alternative and ETF lineup within the broker-dealer and registered investment advisor (RIA) channels, as well as the retail and institutional investor marketplaces.

He also reportedly spent more than ten years at Rydex Investments where he helped to establish the firm as an early entrant in the alternative investment mutual funds space.

Arrow's president and director of sales Jake Griffith described his company's vision for Cadigan in this way:
John has a lot of experience managing a distribution team, working with key account relationships. He is very effective communicating within the industry, explaining to people the advantages of alternative investments and exchange-traded funds. He will be traveling with the sales team visiting with our top clients and prospects. A big component of his short-term goals will be to get to know our clients and their goals and processes. He will do a lot of work developing relationships with investment consultants as well.
Griffith said that Arrow currently has five external investment consultants and three internals and has plans to expand in both areas. His shop is also looking to expand its capabilities in the RIA channel, where they plant to hire some hybrid sales staff.

One of the big goals of this sales push is to promote awareness of the firm's global yield and global allocation products.  

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