Rydex Funds is moving its West Coast office from Santa Barbara, CA to Denver, CO and creating two "regional hub" locations. One hub will be in the new Denver office and another in Massachusetts, which has moved from Ipswich, MA into the city of Boston.
The firm is also planning to beef up staff in both of the new hubs and has already hired two new wholesalers, one for each office. According to Rydex, the two hubs will eventually have double the four current sales staff.
Cheryl Burgut, just hired as Northwest regional sales rep, will be working out of Denver and reporting to
Dan Hornbaker, the regional sales manager for the RIA channel. Hornbaker will report to
Mark Bentley, vice president and national sales manager.
Dan Sullivan will continue as regional sales manager for the RIA channel for the Eastern US, in the Boston office, with
Andrew Waddell, a new hire, working as inside sales rep. Sullivan also reports to Bentley.
Both offices will have salespeople dedicated to the broker/dealer channel as well, reporting to
Dennis Hearns, national broker/dealer sales manager. Hearns is currently working to identify broker/dealers with a "significant commitment to fee-based business."
The Rockville, MD- headquartered firm has 22 mutual funds with about $7.5 billion in assets under management, an asset base which has doubled in the last 12 months. It also has a regional office in Shreveport, LA.
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