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ProFunds names Richard Eng COO


ProFunds Group, a provider of alternative ETFs and mutual funds, has named Richard Eng as Chief Operations Officer. Eng, most recently with Legg Mason Capital Management, will oversee fund and investor services, financial administration, and information technology. He reports to Michael L.Sapir, Chairman and CEO of ProShare Advisors LLC and ProFund Advisors LLC.

“With over 15 years of operations and technology experience in the investment management business, Rick is an outstanding addition to our team,” says Sapir. “Rick’s oversight and guidance in many significant areas, including our investment operations, shareholder servicing, and technology strategy will be particularly valuable as we continue to expand our lineup of alternative ETFs and mutual funds.”

Eng was most recently with Legg Mason Capital Management as Chief Operating Officer. During his tenure at Legg Mason, he oversaw professionals in the areas of investment operations, client reporting and production, settlements, trading, information technology, and finance.

Prior to Legg Mason, Eng was Chief Financial Officer at Ramsey Asset Management, LLC, a McLean, Virginia-based hedge fund manager. He has also worked as Product Manager for all hedge fund-related software for San Francisco’s Advent Software, Inc, the largest provider of software to the financial services and hedge fund industry.

Eng received his BS in Organisational Management and Consumer Studies from the University of Maryland at College Park.

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