The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The $75MM Fundster Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 11, 2016

The $75MM Fundster

News summary by MFWire's editors

The founding CEO of a publicly-traded mutual fund shop earned $75 million last year. Yet that was a big drop year-over-year.

Mario J. Gabelli
GAMCO Investors, Inc
Chairman, Chief Executive Officer
Anders Melin of Bloomberg reports on Gamco [profile] chief and PM Mario Gabelli's compensation for 2015. Per Gamco's proxy filing on Friday, Gabelli's 2015 compensation broke down into about $13 million in the form of an "incentive management fee" and about $62 million for "portfolio manager and other variable remuneration." Yet Gabelli does receive a regular salary, bonuses, or stock.

Bloomberg says that Gabelli's pay puts him "among last year's highest-paid Wall Street executives," and it notes that Gamco's second-highest paid executive was chief operating officer Douglas Jamieson, who brought home $3.65 million in 2015.

The pub also points out that Rye, New York-based Gamco's shares fell 35 percent in 2015 and Gabelli's "management fee is based on 10 percent of its pretax profits." Gamco's "income from continuing operations" fell almost 18 percent year-over-year to about $87 million in 2015. And Gabelli's total compensation fell more than 15 percent from $88.5 million in 2014 and almost 12 percent from $85 million in 2013.

Also, though Bloomberg doesn't mention it, it's worth noting that Gabelli is basically paying himself. He owns 41.49 percent of Gamco's class A stock and 98.59 percent of its class B stock. In the language of their SEC filings, when you cut through the details of the different interwoven companies and the way the different share classes work, "Mr. Gabelli is deemed to control GBL." 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. Nicsa webinar - Luxembourg: The FinTech Gateway to Europ, May 18
  2. MMI webinar - How Wealth Firms Can Attract and Retain the Modern Investor, May 18
  3. ICI webinar - New Research Shows "First-Mover" Is a Universal Investor Response — Not Unique to Open-End Mutual Funds, May 18
  4. MFDF webinar - Mutual Fund Director Compensation: The MPI Annual Survey (2022), May 19
  5. 2022 ICI Leadership Summit, May 25-26
  6. ALFI Roadshow to New York, May 25
  7. 2022 IDC Fund Directors Workshop, May 26
  8. Irish Funds Annual Global Funds Conference 2022, May 30-31
  9. WealthManagement Edge, May 31 - June 3
  10. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  11. 28th annual Expect Miracles East Coast Classic, June 9
  12. 2022 Sohn Investment Conference, June 9
  13. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  14. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  15. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  16. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  17. 2022 MMI Emerging Asset Managers Forum, June 23
  18. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  19. Financial Planning INVEST, Jun 28-29
  20. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  21. MFDF Director Discussion Series - Open Forum (New York), July 20
  22. 2022 MMI Distribution Leadership Forum, Jul 20-21
  23. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  24. MFDF webinar - Performance, Perception and Manager Selection, September 14
  25. 2022 ICI Tax and Accounting Conference, Sep 18-21
  26. 5th annual Expect Miracles Atlantic Coast Classic, October 3

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use