BETHESDA, Md.--(BUSINESS WIRE)--ProShares, a premier provider of ETFs, today announced that Alex Depetris has been named to the newly created role of managing director, operations & technology. He will report to ProShares CEO Michael L. Sapir.
Mr. Depetris’ principal responsibilities will include overseeing the portfolio group, portfolio operations, financial administration, shareholder services and technology.
"I am delighted to have Alex join our senior leadership team and lead the functions that power the engine that delivers value to our shareholders," said Mr. Sapir. "Alex's broad ETF experience, limitless energy and leadership capabilities will accelerate our capacity to continue to grow and diversify our business as we go into the future."
Mr. Depetris was most recently chief operating officer of OppenheimerFunds’s Beta Solutions businesses, including its ETF and passive SMA platforms. Prior to that, he was the co-founder, chief operating officer and chairman of the board of Deutsche Bank’s U.S. exchange traded products businesses where he managed day-to-day operations and spearheaded the development of several award-winning ETFs. Earlier in his career, Mr. Depetris practiced law, focusing on the investment management industry. He has a BS in finance from the University of Maryland and a JD from the Boston University School of Law.
“I look forward to contributing to the continued growth and success of ProShares, a longstanding and innovative leader in the industry,” Mr. Depetris said.
Mr. Depetris started working out of ProShares headquarters in Bethesda on June 24.
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $30 billion in assets. The company is the leader in strategies such as dividend growth, interest rate-hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
Investing involves risk, including the possible loss of principal. ProShares are generally non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProShares ETF will achieve its investment objective.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.