Direxion, a provider of alternative investment solutions, has appointed Eric Falkeis as president and chief operating officer of Rafferty Asset Management, the adviser to Direxion Funds and Direxion Shares.
He was most recently chief financial officer and director of exchange-traded fund operations at US Bancorp Fund Services, where he worked closely with Direxion for more than a decade.
At Direxion, Falkeis (pictured) will report to Dan O’Neill, chief executive officer of Rafferty. 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 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 line-up, 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,” says 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.”
“Direxion’s products are unique investment vehicles which Eric has played an integral role in building,” says 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.”
