ProFunds Group, a Bethesda, Md., manager of short and leveraged funds, announced Thursday that it had hired Joanne M. Hill to head investment strategy.

In this newly created post, she is to oversee research, development, and "dissemination of investment strategies" using the company's exchange-traded funds and mutual funds.

Ms. Hill worked 17 years at Goldman Sachs, most recently as a managing director in the pensions, endowments, and foundations group.

ProFunds had $28 billion of assets under management at Dec. 31 in 76 ProShares short and leveraged ETFs and 115 ProFunds mutual funds. It introduced the first short and leveraged ETFs in 2006.

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