MutualFundWire.com: A 27-Year-Old AM Comes to the Spiral

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Wednesday, February 14, 2024

A 27-Year-Old AM Comes to the Spiral

The folks at a 27-year-old, $64-billion-AUM fund firm from DMV are planting their distribution arm's flag at a new space in Gotham.

Michael Lynn Sapir
ProShare Advisors, ProFund Advisors
CEO

Last week, Michael Sapir, CEO of Bethesda, Maryland-based ProShares [profile], confirmed that his team is opening a new ProFunds Distributors, Inc. (PDI) office in New York City. That new office will be in midtown Manhattan's Hudson Yards complex, on the 28th floor of the Spiral at 66 Hudson Boulevard. The 66-floor building opened last year.

A spokesperson for ProShares was not able to comment on how big the new PDI office is, how big the team there will be, or what (if anything) the move means for ProShares' existing office space.

Sapir puts the opening of the new PDI office in the context of his team's efforts to "attract top talent in the industry."

"This best-in-class NYC office space in a premier building positions our firm and employees at the forefront of the industry," Sapir states.

Printed from: MFWire.com/story.asp?s=67046

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