The board of directors of Gabelli Asset Management plan to ask shareholders to approve a name change to GAMCO Investors in a meeting on May 10, according to an SEC filing.

"Since 1977, GAMCO has been the name of our asset management business, representing our institutional and high net worth effort … GAMCO is a more encompassing parent company name, and more appropriately represents the various investment strategies, philosophies, and asset management brands contributing to the continued growth of our company," stated officials in the filing.

The name change will take effect if a majority of shareholders approve the vote.  

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