Management Team


Daniel D. O’Neill
Chief Executive Officer

As CEO, Dan is responsible for all investment management and trading operations. He joined Direxion in 1999 and plays a leading role in the development and launch of new products and value added services for advisors and investors. He is a member of the Direxion Executive Management Committee.

Prior to joining Direxion Funds, he served as Portfolio Manager: Private Equity Investments at Hermitage Capital Management Limited in Moscow, Russia. His responsibilities included monitoring investments by two hedge funds in illiquid Russian equities.

Dan earned a J.D. from the University of Virginia School of Law, where he served on the editorial board for Virginia Law Review. He holds a BA in English and Economics from the University of Virginia in Charlottesville, where he was a Jefferson Scholar.


Eric Falkeis
Chief Operating Officer

As COO, Eric leads day-to-day business operations, strategic planning and business development efforts for Direxion’s entire lineup of products.

Prior to Direxion, Eric served as chief financial officer of US Bancorp Fund Services and previously held several senior positions over 15 years with the bank, including Director of ETF Operations, a division he started from scratch. Under Eric’s leadership U.S Bancorp became one of the top three service providers in the ETF industry. Mr. Falkeis served as chairman and president of the ETF Series Solutions Trust, and was the recipient of Money Management Executive’s “Innovator of the Year” award.

Eric is a graduate of Marquette University, a certified public accountant and a member of the Marquette Accounting Advisory Board. 


Andy O’Rourke
Managing Director, Chief Marketing Officer

As Chief Marketing Officer at Direxion Funds, Andy leads all marketing efforts focusing on building brand and product awareness within the investment advisor community.

Prior to joining Direxion Funds, Andy was the Director of Distribution Marketing for MassMutual Financial Group’s Retirement Services division. Andy has also been employed by State Street Bank, Fidelity Investments, and Emplanet Retirement Services, in various relationship management, product development, and strategic marketing positions.

Andy is a graduate of Miami University in Oxford, Ohio, and has earned a Masters of Business Administration from the F.W. Olin Graduate School of Business at Babson College.

Stephen Rudman
Managing Director, Head of Sales

As the Managing Director, and Head of Sales, Steve is responsible for leading the internal and external sales initiative for Direxion Funds and Direxion Shares. Mr. Rudman has over 25 years of distribution experience in the financial services industry, including the implementation of strategic corporate initiatives and building effective sales distribution teams.

Prior to Direxion, Steve was Senior Vice President, Head of Internal Sales for PIMCO; and SVP, Divisional Sales Manager for the Southeast where he was instrumental in driving exponential sales growth. Previously, Steve was a Vice President at Eaton Vance in Florida, where he helped increase asset levels by tenfold.

Steve holds Series 7, 63, 65, 24 licenses, and a B.S. in Finance from the University of Massachusetts, Amherst Isenberg School of Management.

Patrick Rudnick
Chief Financial Officer

As CFO of the Direxion Funds and Direxion Shares ETFs, Mr. Rudnick is responsible for oversight of all financial matters for the firm, including certification of financial reporting for all products. Pat also has lead responsibility for monitoring operational risk, and internal efficiencies for the firm.

Prior to Direxion, Pat managed various teams in the Fund Administration department at U.S. Bancorp Fund Services in which he was responsible for financial reporting, compliance, board reporting and expense oversight for a number of clients. Pat was also a key member of the team that helped develop USBFS’s ETF servicing model. He served as the Treasurer and Principal Financial Officer for Professionally Managed Portfolios and ETF Series Solutions, both multiple series trusts; and for the Direxion Funds and Direxion Shares ETF Trusts. Prior to U.S. Bancorp, Mr. Rudnick was an audit manager with PricewaterhouseCoopers LLP, specializing in assessing the internal control structure of investment management companies, investment advisers, and broker dealers.

Pat is a Certified Public Accountant, and received his Bachelor of Business Administration degree in accounting from the University of Wisconsin-Whitewater.