Chemistry is a vital component when building an organizational powerhouse. This applies not only to just sports, but also the executive world. In the NBA, the New York Knicks assembled the “Nova Knicks.” This effectively reunited a championship-caliber core of Villanova alumni in Jalen Brunson, Josh Hart, and Mikal Bridges.
In the ETF industry, Direxion is running the same front office playbook. The leveraged and inverse ETF pioneer is doubling down on its connection with the New York Stock Exchange (NYSE) to build its own dream team.
See More: Direxion’s Mo Sparks Talks Advisor Education, Leveraged ETFs
The Starting Lineup
It all started at the top with the search for a proverbial point guard. In the end, it was Douglas Yones who was tapped to become Direxion’s Chief Executive Officer in late 2024. Yones brought with him over a decade of leadership from his time as Head of Exchange Traded Products at the NYSE.
“Doug’s history of delivering innovative ideas and valuable insights in the capital markets was a major reason for bringing him aboard, and Direxion is delighted to welcome him to the team,” said Michael Rafferty, CEO of Rafferty Holdings (Direxion’s parent company) at the time of the hire.
Since then, the ETF roster has seen an expansive growth of products for retail traders, which includes a growing list of single-stock ETFs.
With Yones at the helm, the rest of the team began its buildout. Enter Mo Sparks, who was also brought in from the NYSE as Chief Product Officer less than five months later. Sparks stepped into Direxion to oversee product strategy and innovation. He previously spearheaded ETF product development and championed the broader ecosystem.
The Sparks hire culminated with the recent appointment of Bilal Little as Global ETF Strategist. Little is another industry veteran who previously served as Head of ETF Market Development at the NYSE. Little will help expand Direxion’s global distribution strategy, educate institutional clients, and grow the footprint of the firm’s thematic and leveraged product suites.
“Bilal joins Direxion at a pivotal time for our firm, as investors increasingly seek tactical tools to navigate rapidly changing global markets,” said Yones.
Built-In Chemistry
Just like the Nova Knicks, Direxion’s leadership goes beyond a collection of high-performing resumes. Together, Yones, Sparks, and Little share a collective DNA forged at 11 Wall Street.
Direxion is tapping individuals who deeply understand listing mechanics, market structure, and product distribution in the ETF marketplace. Through this, it continues to offer investors innovative solutions and expand its global presence with slam dunk hires.
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