US provider of leveraged and strategic beta exchange-traded products (ETFs) Direxion Investments has beefed up its distribution team with four senior hires.
Direxion has reorganised and expanded its distribution team to provide complementary service and support to institutional investors and financial advisers. The firm said its distribution team now includes seven external regional directors and four institutional strategists.
“At a time when non-traditional investment products continue to generate investor interest and increase in market share, it is important that advisers and investors understand the strategies that are available to them as well as how these options can help investors reach their financial goals,” said Brian Jacobs, president of Direxion Investments. “Our organisation is now well-positioned to provide excellent service to financial advisers and institutions.”
The newly appointed executives include Brendan Cavanaugh, vice-president, capital markets institutional strategist, in New York City who was formerly vice-president for global corporate access at Goldman Sachs; Phillip Hall, senior vice-president, regional director serving the North Central territory, based in Chicago who joins from Morgan Stanley; Michael Lee Jr., senior vice-president, regional director for the Southeast, based in Raleigh, North Carolina who joins from Hatteras Funds, where he promoted hedge fund of funds, private equity fund of funds and alternative mutual funds throughout various channels; and John Vaughan, senior vice-president, institutional strategist who joins from Eaton Vance.
All four executives report to Stephen Rudman, managing director and head of sales at Direxion Investments. Including the internally based sales professionals, the total distribution team at Direxion now stands at 19.
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