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

Direxion, a leading provider of leveraged, inverse, and non-traditional ETFs, has announced Douglas Yones as its new Chief Executive Officer, marking a significant step in its strategy to bolster its market presence and foster innovation. Yones, with his extensive background in the ETF sector, including his recent role as Head of Exchange Traded Products at the New York Stock Exchange, is poised to lead Direxion through its next phase of growth.

Michael Rafferty, CEO of Rafferty Holdings, Direxion's parent company, highlighted Yones' proven track record in delivering innovative solutions and insights in the capital markets as key to his appointment. Yones' prior experience at The Vanguard Group, where he led Domestic Equity Indexing/ETF Product Management, and his contributions to ETF development across multiple countries, equip him with the expertise to navigate the complexities of the ETF landscape.

Yones expressed enthusiasm about joining Direxion, citing the company's reputation for pioneering ETF solutions. His leadership is expected to enhance Direxion's ability to offer precise and purpose-built ETF products, catering to the dynamic needs of traders and investors. With approximately $48.5 billion in assets under management, Direxion is well-positioned under Yones' guidance to capitalize on emerging market opportunities.

The appointment comes at a pivotal time for the ETF industry, characterized by rapid growth and innovation. Yones' deep understanding of product development and market operations aligns with Direxion's mission to provide investors with tools for risk management and market perspective expression. This strategic leadership change signals Direxion's ambition to maintain its competitive edge and drive future success in the ETF market.

For more information on Direxion's ETF offerings, visit https://www.direxion.com. It's important for investors to recognize that leveraged and inverse ETFs carry higher risks compared to traditional investment options, necessitating careful consideration of a fund's objectives and risks before investing.