Market Overview

Dennis J. DeCore Named Managing Director of Active ETF Initiatives

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GAMCO Investors, Inc. (NYSE:GBL) is pleased to announce that Dennis J. DeCore, has been named Managing Director and will lead Gabelli Fund's ETF business.

Gabelli Funds is a licensee of the Precidian Investments ActiveShares, the first non-transparent, actively managed ETF which was recently approved by the SEC. Gabelli Funds expects that ActiveShares will be a significant offering to investors in the future.

Mr. DeCore has over 44 years of brokerage and asset management experience. Prior to joining Gabelli Funds in 2014, Dennis was a Managing Director at Mitsubishi Securities where he executed share repurchases for large banking clients as well as implemented equity strategies for the firm's proprietary account. As a Managing Director at Nomura Securities, Dennis co-managed a proprietary index arbitrage portfolio consisting of trading earning and funding spreads using equity positions, ETF's and index futures and options. At Merrill Lynch, Mr. DeCore was a Managing Director where he co-founded and co-managed the Program Trading Department.

Commenting on Dennis' appointment, Mario Gabelli said "We are delighted that Dennis, with his knowledge and experience will be leading us in the launch of our actively managed ETF investment products".

Dennis holds a B.S. in Finance and Economics from Rider College and an MBA from New York University Stern School of Business.

About GAMCO Investors, Inc.

GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and is known for its Private Market Value with a Catalyst™ style of investment.

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