GAMCO Investors
GAMCO Investors, Inc formerly known as Gabelli Asset Management Company is a provider of investment advice and brokerage services to mutual funds, institutional and select investors. One of the companies key elements of their success is the investment research publishing. It is listed on the New York Stock Exchange under the symbol GBL. The company was founded by Mario Gabelli and is based in Rye, New York. In 2005, the company elevated the brand name 'GAMCO' from its asset management business to become the name of the entire company.[1]
The company made a Public offering (IPO) in 1999; Mario Gabelli owns a 50% stake and Bill Gates through his investment group Cascade, LLC owns 1.3%.[2]
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[edit] History
GAMCO Asset Management, Inc. (GAMCO) was formed in 1977 to provide discretionary investment services to a broad spectrum of investors. The principal objective is to seek long term capital appreciation primarily through the equity markets by applying an analytical process to management of client portfolios. The Firm's client base includes corporate pension and profit sharing plans, municipalities, substantial private investors and individuals via the Gabelli Family of Funds.
[edit] Controversy
In March 2006,[3] a judge determined Mario Gabelli had unfairly prevented a long time investment partner and Gabelli's former lawyer Mancheski and Perlmutter from selling their shares in Gabelli Group Capital Partners. In the settlement Gabelli paid the couple $100 million that would amount to a total of 2.1 million Gamco shares, currently worth about $80 million, and more than $20 million in cash.
[edit] References
- ^ "GAMCO Investors, Inc. Name Change Effective". BNET Business Network. 2005-08-29. http://findarticles.com/p/articles/mi_m0EIN/is_2005_August_29/ai_n14934805. Retrieved 2008-10-11.
- ^ http://moneycentral.msn.com/ownership?Holding=Institutional+Ownership&Symbol=GBL
- ^ Sorkin, Andrew Ross (2006-05-05). "Gabelli Settles Investor Suit for $100 Million". The New York Times. p. Late Edition - Final, Section C, Page 3, Column 3,. http://select.nytimes.com/gst/abstract.html?res=F10C12F7355B0C768CDDAC0894DE404482. Retrieved 2006-05-30.
[edit] External links
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