Brian Jacobs, a 25-year asset management veteran, has been hired as the new president of Direxion Funds.

Before joining Direxion, Jacobs served as an industry consultant at the firm he founded, Jacobs Strategic Consulting, where he consulted with a number of major asset managers and structured a long-term joint venture to launch and distribute alternative mutual funds for clients Cliffwater LLC,and Virtus Investment Partners.

Prior to that, Jacobs served as CEO of Hatteras Funds. He joined Hatteras after more than 18 years at Eaton Vance and Allianz/PIMCO.

Jacobs is based in New York and reports to Direxion CEO Dan O’Neill.

“Given his broad experience in distribution and alternative investments, Brian’s expertise will prove invaluable in helping us enhance our capabilities and products to meet the rise in demand from both retail and institutional investors,” said O’Neill.