ProShares has hired exchange-traded fund industry veteran Ben Fulton as managing director, the company announced Wednesday.
Fulton will contribute to ProShares’ strategy and business growth. In that role he will direct the company’s tactical products business that represents more than $28 billion in assets. He will report to ProShares CEO Michael Sapir.
Fulton has more than 30 years of experience in the global financial services industry, including his role overseeing the PowerShares ETF business as managing director of the global ETF business for Invesco. Most recently, he was CEO of exchange-traded product company Elkhorn Investments, a company he founded in 2013. In April, Elkhorn closed two of its last four ETFs, and the other two were taken over by Innovator Capital Management.
ProShares is the tenth-largest ETF sponsor in the U.S. with total assets of more than $30 billion.