ProShares Names Steve Vanourny as Head of Corporate Development, Strategy and Planning
Oct 16, 2023
BETHESDA, Md. — ProShares, a premier provider of ETFs, announced today that Steve Vanourny has joined the firm as Managing Director, Head of Corporate Development, Strategy and Planning.
In this newly created role, Mr. Vanourny is charged with a diverse set of responsibilities, including long-term and annual planning, new product development, business intelligence, and partnerships and acquisitions. Mr. Vanourny will report directly to ProShares’ CEO Michael L. Sapir and serve on the firm’s Management Team.
Mr. Vanourny joins ProShares with nearly three decades of asset management experience, serving as Global Head of Strategy and Global Head of Investment Analytics at State Street, as well as a Partner in McKinsey & Co’s asset and wealth management practice. Most recently, Mr. Vanourny co-founded Continuum Capital Managers, a Boston-based private equity firm that invested in and helped scale a portfolio of asset management firms.
“As ProShares celebrates its 25th anniversary, it is clear that our firm’s commitment to innovation has long put us at the forefront of the ETF revolution and fueled our growth,” said Mr. Sapir. “As we embark on our next 25 years, we must continue finding new ways to innovate and grow—including developing more products that allow investors to pursue enhanced returns and manage risk, and exploring potential new strategic partnerships and possible acquisitions. Steve is an experienced and results-oriented leader, and I look forward to working with him to take ProShares to the next level.”
Going forward, Mr. Vanourny will oversee new product development, an area in which ProShares has an impressive track record. ProShares pioneered the first geared (leveraged and inverse) ETFs in the United States, offers the largest lineup of dividend growth ETFs, and is the global leader in crypto-linked ETFs.
“I am struck by ProShares’ impressive record of growth and innovation, but I am even more energized by what I see as the firm’s enormous potential,” said Mr. Vanourny. “ProShares has a bright future ahead, and I look forward to working with Michael and the ProShares team to build on what is already a very strong platform for growth and continued success.”
Mr. Vanourny graduated from Dartmouth College and earned his MBA from Harvard Business School. Beyond his work in the asset management industry, Mr. Vanourny has led and served on the boards of several healthcare institutions, including Beth Israel Deaconess Medical Center and Beth Israel Deaconess Hospital–Needham. He is currently a member of the investment committee of Beth Israel Lahey Health, a leading Harvard-affiliated healthcare system in Massachusetts.
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs and, along with its affiliates, now manages more than $60 billion in assets. The company is a leader in crypto, dividend growth, 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.