ProFund Advisors LLC, the investment adviser to the ProFunds family of index-based mutual funds, has announced the hiring of a chief investment officer from State Street Global Advisors.
The Bethesda, Md., fund company said Monday that it had named Agustin J. Fleites its investments chief. He will report to ProFund Advisors' chairman and chief executive officer Michael L. Sapir and is to have investment oversight responsibility for the more than 90 funds managed by ProFund Advisors. In his new role, he also is to lead ProFund Advisors' exchange-traded funds initiatives.
Mr. Fleites was a senior principal of State Street Global Advisors, where he worked for 18 years. As president of its funds management and managing director of its adviser strategies unit, he managed its registered investment adviser business and oversaw the distribution and management of the company's registered mutual fund, exchange-traded fund, and managed accounts businesses.
He was chairman of the board and the president of State Street Global Advisors' family of exchange-traded funds, the chief executive officer and a director of the SSgA Funds, and a director of the Select Sector SPDR Trust.
