ProFunds Taps Kendrick for Marketing Director

ProFunds Group said that Richard Kendrick was recently named managing director, Marketing.

Kendrick, who was most recently with RiverSource Investments, will oversee all marketing operations for ProShares ETFs and ProFunds mutual funds. He reports to ProFunds Group Chairman and CEO Michael L. Sapir, and replaces Steve Cohen, who is assuming new responsibilities as head of ProFunds’ new Strategy Group.

At RiverSource Investments, Kendrick was vice president, Asset Management Marketing, and was responsible for overseeing the retail marketing of over 70 funds with combined assets of some $65 billion. Previously, Kendrick was director, Product and Program Marketing, with Rydex Investments, where he managed the marketing initiatives for more than 100 mutual funds and ETFs. He has also worked with the Corporate Executive Board, Oppenheimer & Co., and Merrill Lynch.

ProFunds Group includes 76 ProShares short and leveraged ETFs, and 115 ProFunds mutual funds. ProShares, which, according to the firm introduced the first short and leveraged ETFs in 2006.