Direxion Appoints Douglas Yones as CEO to Drive Innovation in ETF Market

Direxion, a prominent provider of leveraged, inverse, and non-traditional ETFs, has appointed Douglas Yones as its new Chief Executive Officer, signaling a strategic commitment to enhancing its market position and driving innovation in the ETF space. Yones brings extensive experience from his previous role as Head of Exchange Traded Products at the New York Stock Exchange, where he oversaw listings and operations for ETPs, Closed-End Funds, and SPACs while supporting issuers in product development, regulatory compliance, and listing processes. His expertise in driving growth, distribution, and market quality positions him as a valuable addition to Direxion's leadership team during a period of rapid industry evolution.

Michael Rafferty, CEO of Rafferty Holdings, Direxion's parent company, expressed enthusiasm about the appointment, stating that Yones' history of delivering innovative ideas and valuable insights in capital markets was a major reason for bringing him aboard. Rafferty emphasized that Yones will play a crucial role in building upon Direxion's two decades of momentum and continuing to provide high-quality fund solutions to customers. The company has established itself as a significant player in the ETF market with approximately $48.5 billion in assets under management as of September 30, 2024, and is known for its specialized ETF offerings that allow investors to manage their risk exposure.

Yones' background in the ETF industry includes 17 years at The Vanguard Group, where he led Domestic Equity Indexing/ETF Product Management and contributed to ETF development across multiple countries including the U.S., U.K., Canada, and Asia. His educational background includes an M.B.A. from Villanova and a bachelor's degree from Penn State, along with ChFC and CETF designations and registration as an Options and General Securities Principal with FINRA. The new CEO expressed excitement about joining Direxion, praising the company's reputation for progressive ETF ideas, particularly in the non-traditional, leveraged, and inverse space, and stated that together with the talented team, they are ready to bring fresh ideas to life.

This appointment represents a strategic move to enhance Direxion's competitive edge as the ETF landscape continues to evolve, with Yones' experience in product development and market operations aligning well with Direxion's reputation for developing products that precisely express market perspectives. Investors and industry observers will likely monitor how Yones' leadership influences Direxion's product offerings and market strategies, particularly as the company positions itself to capitalize on market opportunities and meet the evolving needs of traders and investors. For more information on Direxion's ETF offerings, interested parties can visit https://www.direxion.com, though it is important to note that leveraged and inverse ETFs pursue daily leveraged investment objectives which can be riskier than traditional investment alternatives.