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Rating:Someone New Wears the President's Hat at Direxion Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 31, 2014

Someone New Wears the President's Hat at Direxion

Reported by Tommy Fernandez

Direxion has deepened its top talent bench by appointing a former distribution consultant, and former Hatteras CEO, to the role of president.

Brian Jacobs started in his new role today as president of Direxion, based in New York and reporting to CEO Dan O'Neill.

Before Jacobs, Eric Falkeis had been appointed both president and COO in March 2013. Falkeis, who was previously CFO of US Bancorp Fund Services, will continue as Direxion's COO.

“We are very excited to work with an established industry leader like Brian, who has a proven track record of building successful asset management companies,” O’Neill said in a statement. “Given his broad experience in distribution and alternative investments, Brian’s expertise will prove invaluable in helping us enhance our capabilities and products to meet the rise in demand from both retail and institutional investors.”

Before joining Direxion, Jacobs had served as a managing partner at the firm he founded, Jacobs Strategic Consulting. There, he consulted with a number of major asset managers and, among other projects, structured a long-term joint venture to launch and distribute a wide range of alternative mutual funds for his client, Cliffwater LLC, and Virtus Investment Partners, according to Direxon. According to his Linkedin page, he also consulted for major asset managers such as Fortress Investment Group, New York Life Investment Management/ Mainstay Mutual Funds, Legg Mason and Balter Liquid Alternatives.

Before founding Jacobs Strategic Consulting, Jacobs had served for two years as CEO at alts boutique Hatteras Funds. Before that, he had served as chief distribution officer at Baron Capital.

Before Baron, Jacobs had served as managing director, head of sales at Allianz Global Investors. During his eight years at the firm, he helped assets grow from $20 billion in 2000 to $140 billion in 2008. He was a member of a member of five person Managing Director team responsible for strategy, P&L, budget, branding, fee negotiation with affiliates and overall management of Allianz's Distributor.

Prior to Allianz, Jacobs had served for ten years as national sales director for Eaton Vance

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